Centene Corp. (NYSE: CNC) is -2.02% lower on its value in year-to-date trading and has touched a low of $60.83 and a high of $81.42 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CNC stock was last observed hovering at around $72.98 in the last trading session, with the day’s loss setting it -0.27%.
Currently trading at $72.71, the stock is -4.53% and -5.43% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.38 million and changing -0.37% at the moment leaves the stock 1.31% off its SMA200. CNC registered 10.13% gain for a year compared to 6-month gain of 3.56%. The firm has a 50-day simple moving average (SMA 50) of $0.25 and a 200-day simple moving average (SMA200) of $6.79.
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The stock witnessed a -6.95% loss in the last 1 month and extending the period to 3 months gives it a -5.28%, and is 0.36% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.98% over the week and 1.93% over the month.
Centene Corp. (CNC) has around 76000 employees, a market worth around $38.89B and $154.00B in sales. Current P/E ratio is 14.80 and Fwd P/E is 9.62. Profit margin for the company is 1.75%. Distance from 52-week low is 19.53% and -10.69% from its 52-week high. The company has generated returns on investments over the last 12 months (6.08%).
Centene Corp. quarterly earnings per share for the current quarter are estimated at $2.09 with sales reaching $36.54B over the same period.The EPS is expected to grow by 1.38% this year, but quarterly earnings will post -4.90% year-over-year. Quarterly sales are estimated to grow 1.40% in year-over-year returns.
Centene Corp. (CNC) Top Institutional Holders
1,291 institutions hold shares in Centene Corp. (CNC), with institutional investors hold 98.64% of the company’s shares. The shares outstanding are 534.48M, and float is at 529.07M with Short Float at 1.81%. Institutions hold 98.35% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 63.74 million shares valued at $4.3 billion. The investor’s holdings represent 11.77% of the CNC Shares outstanding. As of Jun 29, 2023, the second largest holder is Capital World Investors with 47.94 million shares valued at $3.23 billion to account for 8.85% of the shares outstanding. The other top investors are Blackrock Inc. which holds 38.82 million shares representing 7.17% and valued at over $2.62 billion, while FMR, LLC holds 6.51% of the shares totaling 35.26 million with a market value of $2.38 billion.
Centene Corp. (CNC) Insider Activity
The most recent transaction is an insider sale by Robinson Lori Jean,the company’sDirector. SEC filings show that Robinson Lori Jean sold 10,000 shares of the company’s common stock on Feb 13 ’24 at a price of $77.41 per share for a total of $0.77 million. Following the sale, the insider now owns 11455.0 shares.
Centene Corp. disclosed in a document filed with the SEC on Feb 07 ’24 that FASOLA KENNETH J (President) sold a total of 12,000 shares of the company’s common stock. The trade occurred on Feb 07 ’24 and was made at $75.07 per share for $0.9 million. Following the transaction, the insider now directly holds 0.24 million shares of the CNC stock.
Still, SEC filings show that on Apr 27 ’23, Robinson Lori Jean (Director) disposed off 1,400 shares at an average price of $66.59 for $93226.0. The insider now directly holds 8,508 shares of Centene Corp. (CNC).
