As of Friday close, Centene Corporation’s (NYSE:CNC) stock was down -$0.86, moving down -1.24 percent to $68.68. The average number of shares traded per day over the past five days has been 3,057,360 shares. 3 times new highs have been achieved over the past 5 days, with a $0.87 gain in that time frame. In the last twenty days, the average volume was 3,720,120, while in the previous 50 days, it was 3,488,834.
Since last month, CNC stock rose 7.94%. Shares of the company fell to $60.83 on 09/01/23, the lowest level in the past month. A 52-week high of $87.84 was reached on 01/03/23 after having rallying from a 52-week low of $60.83. Since the beginning of this year, CNC’s stock price has dropped by -16.25% or -$13.33, and marked a new high 1 time. However, the stock has declined by -21.81% since its 52-week high.
CNC stock investors should be aware that Centene Corporation (CNC) stock had its last reported insider trading activity 149 days ago on Apr 27. Robinson Lori Jean, the Director of the company, disposed of 1,400 shares for $66.59 on Apr 27. It resulted in a $93,226 divestment by the insider. LONDON SARAH added 30,000 shares at an average price of $62.60 on Mar 17. The insider now owns 313,953 shares following the transaction. On Feb 10, EVP, CFO Asher Andrew Lynn bought 3,800 shares at $71.97 apiece. The transaction was valued at $273,486.
Valuation Metrics
Right now, Centene Corporation (CNC) has a P/E ratio of about 14.15. The stock’s beta is 0.53. Besides these, the trailing price-to-sales (P/S) ratio of 0.25, the price-to-book (PB) ratio of 1.47, and the price-to-cash flow ratio of 4.86 may also be considered.
Financial Health
In the three months ended June 29, Centene Corporation’s quick ratio stood at 1.10, while its current ratio was 1.10, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 0.70, and the total debt-to-equity ratio was 0.70. On the profitability front, the trailing twelve-month gross margin is 11.40% percent. In the year ended June 29, operating margins totaled 1.80%. 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 10.80%.
In Centene Corporation’s quarter-end financial report for June 29, it reported total debt of $17.9 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 4.45% to $38.89 billion during the quarter, while net income inched up to $37.61 billion. While analysts expected Centene Corporation to report $2.03 quarterly earnings, the actual figure was $2.1 per share, beating the consensus estimate by 3.40%. During the quarter, the company generated $1.48 billion in EBITDA. The liabilities of Centene Corporation were 57.09 billion at the end of its most recent quarter ended June 29, and its total debt was $21.35 billion. The value of shareholders’ equity is $541.48 million.
Technical Picture
This quick technical analysis looks at Centene Corporation’s (CNC) price momentum. With a historical volatility rate of 17.11%, the RSI 9-day stood at 64.73% on 22 September.
With respect to its five-day moving average, the current Centene Corporation price is up by +1.28% percent or $0.87. At present, CNC shares trade +7.38% above its 20-day simple moving average and +0.10% percent above its 100-day simple moving average. However, the stock is currently trading approximately +7.90% above its SMA50 and -20.46% below its SMA200.
Stochastic coefficient K was 88.98% and Stochastic coefficient D was 87.61%, while ATR was 1.47. Given the Stochastic reading of 84.91% for the 14-day period, the RSI (14) reading has been calculated as 61.35%. As of today, the MACD Oscillator reading stands at 0.68, while the 14-day reading stands at 1.89.
Analyst Ratings
BofA Securities upgraded its rating on Centene Corporation (NYSE: CNC) to a Neutral in a note to investors on September 05, 2023. The analysts firm previously had an Underperform rating on the stock.Centene Corporation (CNC) has been rated Overweight by analysts. According to 0 brokerage firms, CNC is a sell, and 11 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Centene Corporation stock as buy, with 8 recommending it as overweight.
With a median target price of $82.00, the current consensus forecast for the stock is $71.00 – $110.00. Based on these forecasts, analysts predict Centene Corporation (CNC) will achieve an average price target of $81.38.
