Analysts Issue Research Notes On Centene Corporation (CNC)

RTX Stock
RTX Stock

Centene Corporation (NYSE:CNC) finished Wednesday with a subtraction of -$2.5 to close at $80.91, a downside of -3.00 percent. An average of 6,887,260 shares of common stock have been traded in the last five days. There was a fall of -$3.01 in the past week, and it reached a new high 35 times over the past 12 months. The last 20 days have seen an average of 4,586,125 shares traded, while the 50-day average volume stands at 3,363,386.

CNC stock has decreased by -16.42% in the last month. The company shares reached their 1-month lowest point of $80.79 on 09/21/22. With the stock rallying to its 52-week high on 08/15/22, shares of the company touched a low of $60.81 and a high of $98.53 in 52 weeks. It has reached a new high 17 times so far this year and lost -1.81% or -$1.49 in price. In spite of this, the price is down -17.88% from the 52-week high.

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Insider Transactions

55 days have passed since Centene Corporation (CNC) last reported insider trading activity. BAGLEY SHANNON, who is EVP, Chief Admin. Officer, most recently acquired $9,000 shares at $92.21 per share on Jul 29. In this transaction, the insider spent $829,890. Director, Robinson Lori Jean, disposed of 1,200 shares at a price of $92.77 on Jul 28. The insider now owns more than $111,324 worth of shares. Prior to that, Director GEPHARDT Richard A went on to Sale 4,480 shares at $88.00 each on Jul 08. An amount of $394,240 was transacted.

Valuation Metrics

Centene Corporation (CNC) has a trailing price-to-earnings (P/E) ratio of 25.73. The stock’s beta is 0.52. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.34, the price-to-book (PB) ratio at 1.80, and the price-to-cash flow ratio at 7.88.

Financial Health

Further, the company has a long term debt to equity ratio of 0.70 and a total debt to equity ratio of 0.71 for the quarter ending June 29. Its gross profit as reported stood at $14.2 billion compared to revenue of $125.98 billion.

Earnings Surprise

For the three-month period that ended June 29, Centene Corporation had $18.46 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$172.0 million in the quarter, while revenues were shrunk -211.05%. The analyst consensus anticipated Centene Corporation’s latest quarter earnings to come in at $1.59 per share, but it turned out to be $1.77, a 11.30% surprise. For the quarter, EBITDA amounted to $268.0 million. Shareholders own equity worth $580.07 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Centene Corporation (CNC) price momentum. RSI 9-day as of the close on 21 September was 26.89%, suggesting the stock is oversold, with historical volatility in this time frame at 41.92%.

As of today, CNC’s price is $83.87 -3.59% or -$3.01 from its 5-day moving average. CNC is currently trading -14.93% lower than its 20-day SMA and -0.83% lower than its 100-day SMA. However, the stock’s current price level is -6.90% below the SMA50 and +13.88% above the SMA200.

The stochastic %K and %D were 11.87% and 18.39%, respectively, and the average true range (ATR) was 2.92. With the 14-day stochastic at 0.94% and the average true range at 2.77, the RSI (14) stands at 31.44%. The stock has reached -3.44 on the 9-day MACD Oscillator while the 14-day reading was at -4.71.

Analyst Ratings

Wells Fargo downgraded Centene Corporation (NYSE: CNC) to a an Equal weight rating in its most recent analyst report. Previously, the stock was rated as an Overweight.


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