Centene Corporation (NYSE:CNC) saw a downside of -0.05% to close Tuesday at $63.80 after subtracting -$0.03 on the day. The 5-day average trading volume is 2,667,960 shares of the company’s common stock. It has gained $65.60 in the past week and touched a new high 1 time within the past 5 days. An average of 3,281,995 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,327,346.
CNC’s 1-month performance is -9.96% or -$6.83 on its low of $62.94 reached on 08/17/23. The company’s shares have touched a 52-week low of $61.34 and high of $96.98, with the stock’s rally to the 52-week high happening on 01/03/23. YTD, CNC has lost -22.20% or -$18.21 and has reached a new high 1 time. However, the current price is down -34.21% from the 52-week high price.
Insider Transactions
CNC stock investors last saw insider trading activity on Apr 27.Robinson Lori Jean (Director) most recently sold 1,400 shares at $66.59 per share on Apr 27. This transaction cost the insider $93,226.
Valuation Metrics
CNC stock has a beta of 0.57. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.23 while the price-to-book (PB) in the most recent quarter is 1.36, with the price to cash flow ratio at 4.51.
Centene Corporation’s quick ratio for the period ended June 29 was 1.10, with the current ratio over the same period at 1.10. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.70, while the total debt to equity was 0.70.. In terms of profitability, the gross margin trailing 12 months is 11.40%. The firm’s gross profit as reported stood at $16.66 billion against revenue of $144.55 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 116.26% to $1.06 billion, while revenue of $1.13 billion was -6.81% off the previous quarter. Analysts expected CNC to announce $2.03 per share in earnings in its latest quarter, but it posted $2.1, representing a 3.40% surprise. EBITDA for the quarter stood at more than $1.48 billion. CNC stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 57.09 billion, with total debt at $21.35 billion. Shareholders hold equity totaling $541.48 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 22 August was 33.92% to suggest the stock is trending Neutral, with historical volatility in this time period at 17.58%.
The stock’s 5-day moving average is $63.83, reflecting a -2.25% or -$1.47 change from its current price. CNC is currently trading -9.27% above its 20-day SMA, +0.24% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -7.54% and SMA200 by-24.99%.
Stochastic %K and %D was 15.88% and 12.00% and the average true range (ATR) pointed at 1.25. The RSI (14) points at 38.50%, while the 14-day stochastic is at 19.63% with the period’s ATR at 1.35. The stock’s 9-day MACD Oscillator is pointing at -0.97 and -1.48 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Centene Corporation (NYSE: CNC), Wolfe Research downgraded it to a Peer perform rating. They previously had an Outperform 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 9 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 2 rates the stock as overweight while 9 have offered a “buy” rating.
