Research Recommendations For Centene Corporation (CNC): Here is What You Should Know

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Centene Corporation (NYSE:CNC) saw a downside of -0.06% to close Tuesday at $81.58 after subtracting -$0.05 on the day. The 5-day average trading volume is 2,750,720 shares of the company’s common stock. It has gained $82.96 in the past week and touched a new high 2 times within the past 5 days. An average of 3,407,835 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,451,064.

CNC’s 1-month performance is -3.87% or -$3.28 on its low of $79.39 reached on 12/21/22. The company’s shares have touched a 52-week low of $73.19 and high of $98.53, with the stock’s rally to the 52-week high happening on 08/15/22. YTD, CNC has lost -1.00% or -$0.82 and has reached a new high 17 times. However, the current price is down -17.20% from the 52-week high price.


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Insider Transactions

CNC stock investors last saw insider trading activity on Jul 29.BAGLEY SHANNON (EVP, Chief Admin. Officer) most recently sold 9,000 shares at $92.21 per share on Jul 29. This transaction cost the insider $829,890. Director, Robinson Lori Jean, sold 1,200 shares at a price of $92.77 on Jul 28. Then, on Jul 08, Director GEPHARDT Richard A sold 4,480 shares at a price of $88.00 per share. This transaction amounted to $394,240.

Valuation Metrics

CNC stock has a beta of 0.59. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.33 while the price-to-book (PB) in the most recent quarter is 1.84, with the price to cash flow ratio at 6.21.

As well, the company’s long term debt to equity for the quarter ending September 29 was 0.71, while the total debt to equity was 0.72. The firm’s gross profit as reported stood at $14.2 billion against revenue of $125.98 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 20.87% to $738.0 million, while revenue of -$172.0 million was 123.31% off the previous quarter. Analysts expected CNC to announce $1.24 per share in earnings in its latest quarter, but it posted $1.3, representing a 4.80% surprise. EBITDA for the quarter stood at more than $867.0 million. CNC stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 55.64 billion, with total debt at $21.56 billion. Shareholders hold equity totaling $566.26 million.

Let’s look briefly at Centene Corporation (CNC) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 27 December was 41.89% to suggest the stock is trending Neutral, with historical volatility in this time period at 22.06%.

The stock’s 5-day moving average is $81.50, reflecting a +0.20% or $0.16 change from its current price. CNC is currently trading -3.94% above its 20-day SMA, -12.25% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +9.80% and SMA200 by-2.19%.

Stochastic %K and %D was 26.47% and 28.24% and the average true range (ATR) pointed at 1.88. The RSI (14) points at 44.48%, while the 14-day stochastic is at 26.07% with the period’s ATR at 1.98. The stock’s 9-day MACD Oscillator is pointing at 0.30 and -1.31 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Centene Corporation (NYSE: CNC), BofA Securities downgraded it to an Underperform rating. They previously had a Neutral rating on the stock. Analysts offering their rating for CNC stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate CNC as a “sell,”, while 5 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 2 rates the stock as overweight while 14 have offered a “buy” rating.

What is CNC’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $85.00 and a high of $115.00, with their median price target at $100.00. Looking at these predictions, the average price target given by analysts is for Centene Corporation (CNC) stock is $99.89.

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