Centene Corp. (NYSE:CNC) finished Friday with a subtraction of -$0.38 to close at $68.88, a downside of -0.55 percent. An average of 3,306,960 shares of common stock have been traded in the last five days. There was a gain of $0.20 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 3,891,305 shares traded, while the 50-day average volume stands at 3,440,898.
CNC stock has increased by 9.82% in the last month. The company shares reached their 1-month lowest point of $60.83 on 09/01/23. With the stock rallying to its 52-week high on 01/03/23, shares of the company touched a low of $60.83 and a high of $87.84 in 52 weeks. It has reached a new high 1 time so far this year and lost -16.01% or -$13.13 in price. In spite of this, the price is down -21.58% from the 52-week high.
Insider Transactions
CNC stock investors should be aware that Centene Corp. (CNC) stock had its last reported insider trading activity 156 days ago on Apr 27.
Valuation Metrics
Centene Corp. (CNC) has a trailing price-to-earnings (P/E) ratio of 14.19. The stock’s beta is 0.52. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.25, the price-to-book (PB) ratio at 1.47, and the price-to-cash flow ratio at 4.87.
Financial Health
Further, the company has a long term debt to equity ratio of 0.82 and a total debt to equity ratio of 0.83 for the quarter ending June 29. Its gross profit as reported stood at $16.66 billion compared to revenue of $144.55 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Centene Corp.’s return on assets was 3.31%.
Earnings Surprise
For the three-month period that ended June 29, Centene Corp. had $17.9 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 $1.06 billion in the quarter, while revenues of $1.13 billion were grew 116.26%. The analyst consensus anticipated Centene Corp.’s latest quarter earnings to come in at $2.03 per share, but it turned out to be $2.1, a 3.40% surprise. For the quarter, EBITDA amounted to $1.48 billion. Shareholders own equity worth $541.48 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Centene Corp. (CNC) price momentum. RSI 9-day as of the close on 29 September was 56.93%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.36%.
As of today, CNC’s price is $69.69 +0.29% or $0.20 from its 5-day moving average. CNC is currently trading +11.73% higher than its 20-day SMA and +0.88% higher than its 100-day SMA. However, the stock’s current price level is -1.85% below the SMA50 and -20.73% below the SMA200.
The stochastic %K and %D were 71.37% and 79.54%, respectively, and the average true range (ATR) was 1.49. With the 14-day stochastic at 64.21% and the average true range at 1.49, the RSI (14) stands at 57.69%. The stock has reached 0.12 on the 9-day MACD Oscillator while the 14-day reading was at 0.63.
Analyst Ratings
BofA Securities upgraded Centene Corp. (NYSE: CNC) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Underperform.
