What Are Wall Street’s Thoughts On Centene Corporation Shares (CNC)?

The stock of Centene Corporation (NYSE:CNC) increased by increased by $0.25 on Friday to finish at $69.24, up 0.36 percent. The last five days have seen an average of 3,763,200 shares of common stock traded. 14 times new highs were reached in the current year, with a gain of $9.21. The average number of shares traded over the last 20 days was 3,247,780, while the average volume over the last 50 days totaled 3,212,682.

CNC stock appreciated 10.61% since last month. On 10/06/21, the company’s shares reached a one-month low of $60.81. The stock touched a high of $75.59 on 07/13/21, after rallying from a low of $57.16 in 52 weeks. The price of CNC stock has risen by 15.34% or $9.21 this year, reaching a new high 14 times. Still, the stock price is down -8.40% from the 52-week high.

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Insider Transactions

There have been 14 days since Centene Corporation (CNC) last reported insider trading activity on Oct 11. On Oct 11, Director GEPHARDT Richard A sold 3,300 shares at $64.13 each. This transaction resulted in the insider making $211,629. On Jul 29, AYALA ORLANDO sold 9,366 shares at a price of US$70.00. After the transaction, the insider now owns 90,895 shares. EVP, Pres. HP, Products & Intl LAYTON BRENT D had earlier sold 4,000 shares on Jul 29 for $70.00 a share. The transaction was completed for $280,000.

Valuation Metrics

Centene Corporation (CNC) has a trailing price-to-earnings (P/E) ratio of 57.08. This level actually compares unfavorably with the industry at large, as the PE for the Healthcare Plans industry stands at about 22.45. Further, its PE also compares unfavorably with the Healthcare sector’s trailing 12 months PE ratio, which comes in at 33.43 right now. The PE ratio of Centene Corporation has varied between 61.23 and 13.25 in the last five years. Beta for the stock is 0.46. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.34, the price-to-book (PB) ratio of 1.56, and the price-to-cash flow ratio of 14.05.

The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.64, and the total debt to equity ratio is 0.65. Centene Corporation’s operating margin stood at 1.30% for the same period. Based on annual data, it had gross profit of $15.22 billion and revenue of $111.11 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. CNC’s return on assets (ROA) during the last 12 months has been 1.00%. There was a 5.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 2.80%. ROE has averaged 16.45 in the past year for the broader industry.

Earnings Surprise

According to Centene Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $31.02 billion, while revenues rose by 10.68% to $29.98 billion. It was predicted that Centene Corporation’s quarterly earnings would be $1.25, but it ended up being $1.39, beating the consensus by -10.10%. EBITDA was -$62.0 million for the quarter. At the end of Centene Corporation’s most recent quarter ended June 29, its liabilities totaled 45.49 billion, while its total debt was $18.31 billion. Equity owned by shareholders amounts to $583.04 million.

Technical Picture

Here’s a quick look at Centene Corporation’s (CNC) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 74.25%, suggesting the stock is Overbought, with a 32.99% historical volatility rate.

The stochastic %K and %D were 96.27% and 90.05% respectively, while the average true range (ATR) was 1.76. Based on the 14-day stochastic reading of 95.80%, the RSI (14) reading is 67.88%. On the 9-day MACD Oscillator, the stock is at 3.38, and the 14-day reading is at 4.08.

Analyst Ratings

In its analyst report released on September 10, 2021, Cowen began covering Centene Corporation (NYSE: CNC). The stock was rated as an Outperform by the brokerage firm.


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