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Why Centene Corp. (CNC) Stock Could See Much Higher Prices Ahead

Centene Corp. (NYSE: CNC) is 3.96% higher 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 continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CNC stock was last observed hovering at around $77.79 in the last trading session, with the day’s loss setting it -0.64%.

Currently trading at $77.15, the stock is 3.29% and 2.23% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.45 million and changing -0.82% at the moment leaves the stock 6.27% off its SMA200. CNC registered 14.52% gain for a year compared to 6-month loss of 7.96%.

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The stock witnessed a 9.08% gain in the last 1 month and extending the period to 3 months gives it a -0.98%, and is 2.68% 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 1.54% over the week and 2.39% over the month.

Centene Corp. (CNC) has around 76000 employees, a market worth around $41.17B and $155.52B in sales. Current P/E ratio is 15.33 and Fwd P/E is 10.15. Profit margin for the company is 1.76%. Distance from 52-week low is 26.83% and -5.24% from its 52-week high. The company has generated returns on investments over the last 12 months (6.10%).

with sales reaching $36.22B over the same period.The EPS is expected to grow by 2.43% this year, but quarterly earnings will post -3.20% year-over-year. Quarterly sales are estimated to shrink -0.70% in year-over-year returns.

Centene Corp. (CNC) Top Institutional Holders

The shares outstanding are 534.48M, and float is at 528.09M with Short Float at 1.43%.

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.

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