Centene Corp. (NYSE: CNC) is -16.92% lower on its value in year-to-date trading and has touched a low of $59.77 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 $64.22 in the last trading session, with the day’s loss setting it -2.57%.
Currently trading at $61.65, the stock is -9.00% and -15.01% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.62 million and changing -4.00% at the moment leaves the stock -16.22% off its SMA200. CNC registered -9.48% loss for a year compared to 6-month gain of -16.50%. The firm has a 50-day simple moving average (SMA 50) of $72.54 and a 200-day simple moving average (SMA200) of $73.58965.
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The stock witnessed a -17.34% loss in the last 1 month and extending the period to 3 months gives it a -20.04%, and is 1.07% 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 3.97% over the week and 2.50% over the month.
Centene Corp. (CNC) has around 76000 employees, a market worth around $32.43B and $161.73B in sales. Current P/E ratio is 10.69 and Fwd P/E is 8.56. Profit margin for the company is 1.90%. Distance from 52-week low is 3.15% and -24.28% from its 52-week high. The company has generated returns on investments over the last 12 months (6.85%).
with sales reaching $38.48B over the same period.The EPS is expected to grow by 0.82% this year, but quarterly earnings will post 1.90% year-over-year. Quarterly sales are estimated to shrink -2.50% in year-over-year returns.
Centene Corp. (CNC) Top Institutional Holders
1295.0 institutions hold shares in Centene Corp. (CNC), with institutional investors hold 100.18% of the company’s shares. The shares outstanding are 534.48M, and float is at 520.45M with Short Float at 1.55%. Institutions hold 99.91% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 60.72 million shares valued at $4.03 billion. The investor’s holdings represent 11.3467% of the CNC Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 47.44 million shares valued at $3.15 billion to account for 8.8657 of the shares outstanding. The other top investors are FMR LLC which holds 35.08 million shares representing 6.5557% and valued at over $2.33 billion, while CAPITAL WORLD INVESTORS holds 4.9777 of the shares totaling 26.64 million with a market value of $1.77 billion.
Centene Corp. (CNC) Insider Activity
The most recent transaction is an insider sale by COUGHLIN CHRISTOPHER J, the company’s Director. SEC filings show that COUGHLIN CHRISTOPHER J sold 878 shares of the company’s common stock on May 14 ’24 at a price of $76.75 per share for a total of $67382.0. Following the sale, the insider now owns 0.0 shares.
Centene Corp. disclosed in a document filed with the SEC on May 13 ’24 that FASOLA KENNETH J (President) sold a total of 8,000 shares of the company’s common stock. The trade occurred on May 13 ’24 and was made at $77.62 per share for $0.62 million. Following the transaction, the insider now directly holds 0.3 million shares of the CNC stock.
Still, SEC filings show that on Feb 13 ’24, Robinson Lori Jean (Director) disposed off 10,000 shares at an average price of $77.41 for $0.77 million. The insider now directly holds 11,455 shares of Centene Corp. (CNC).
