Centene Corporation (CNC) Reached A New High 1 time During The Past Five Days


As of Friday close, Centene Corporation’s (NYSE:CNC) stock was down -$0.64, moving down -1.01 percent to $62.55. The average number of shares traded per day over the past five days has been 4,736,600 shares. 1 time new highs have been achieved over the past 5 days, with a -$2.55 fall in that time frame. In the last twenty days, the average volume was 3,610,450, while in the previous 50 days, it was 3,972,076.

Since last month, CNC stock retreated -14.43%. Shares of the company fell to $61.82 on 03/17/23, the lowest level in the past month. A 52-week high of $98.53 was reached on 01/03/23 after having rallying from a 52-week low of $62.38. Since the beginning of this year, CNC’s stock price has dropped by -23.73% or -$19.46, and marked a new high 1 time. However, the stock has declined by -36.52% since its 52-week high.

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CNC stock investors should be aware that Centene Corporation (CNC) stock had its last reported insider trading activity 1 day ago on Mar 17. LONDON SARAH, the Chief Executive Officer of the company, purchased of 30,000 shares for $62.60 on Mar 17. It resulted in a $1,878,000 investment by the insider. Asher Andrew Lynn added 3,800 shares at an average price of $71.97 on Feb 10. The insider now owns 314,755 shares following the transaction. On Feb 09, EVP, CFO Asher Andrew Lynn bought 3,000 shares at $71.89 apiece. The transaction was valued at $215,670.

Valuation Metrics

Right now, Centene Corporation (CNC) has a P/E ratio of about 30.77. The stock’s beta is 0.58. Besides these, the trailing price-to-sales (P/S) ratio of 0.24, the price-to-book (PB) ratio of 1.46, and the price-to-cash flow ratio of 6.62 may also be considered.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending December 30 was 0.75, and the total debt-to-equity ratio was 0.75. In the year ended December 30, operating margins totaled 0.90%. Based on annual data, CNC earned $16.66 billion in gross profit and brought in $144.55 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 1.40%. Return on equity (ROE) for the past 12 months was 4.70%.

In Centene Corporation’s quarter-end financial report for December 30, it reported total debt of $17.94 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. CNC’s revenue rose 8.42% to $35.87 billion during the quarter, while net income inched up to $35.56 billion. While analysts expected Centene Corporation to report $0.85 quarterly earnings, the actual figure was $0.86 per share, beating the consensus estimate by 1.20%. During the quarter, the company generated $93.0 million in EBITDA. The liabilities of Centene Corporation were 52.69 billion at the end of its most recent quarter ended December 30, and its total debt was $18.02 billion. The value of shareholders’ equity is $551.26 million.

Technical Picture

This quick technical analysis looks at Centene Corporation’s (CNC) price momentum. With a historical volatility rate of 5.54%, the RSI 9-day stood at 11.69% on 17 March.

With respect to its five-day moving average, the current Centene Corporation price is down by -3.92% percent or -$2.55. At present, CNC shares trade -14.33% below its 20-day simple moving average and -15.30% percent below its 100-day simple moving average. However, the stock is currently trading approximately -21.28% below its SMA50 and -23.19% below its SMA200.

Stochastic coefficient K was 10.26% and Stochastic coefficient D was 8.55%, while ATR was 1.58. Given the Stochastic reading of 8.87% for the 14-day period, the RSI (14) reading has been calculated as 17.43%. As of today, the MACD Oscillator reading stands at -1.60, while the 14-day reading stands at -3.04.

Analyst Ratings

Centene Corporation downgraded its rating on Centene Corporation (NYSE: CNC) to a Hold in a note to investors on March 08, 2023. The analysts firm previously had a Buy rating on the stock.Centene Corporation (CNC) has been rated Overweight by analysts. According to 0 brokerage firms, CNC is a sell, and 7 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 2 analysts rate Centene Corporation stock as buy, with 12 recommending it as overweight.

With a median target price of $90.00, the current consensus forecast for the stock is $73.00 – $110.00. Based on these forecasts, analysts predict Centene Corporation (CNC) will achieve an average price target of $89.86.


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