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Why Centene Corporation (CNC)’s Most Recent Report Reveals Some Hints About Its Future

Centene Corporation (NYSE:CNC) went down by -0.04% from its latest closing price compared to the recent 1-year high of $98.53. The company’s stock price has collected -1.28% of loss in the last five trading sessions. The Wall Street Journal reported on 02/08/22 that Peloton, Pfizer, Meta, General Motors: What to Watch in the Stock Market Today

Is It Worth Investing in Centene Corporation (NYSE :CNC) Right Now?

Centene Corporation (NYSE:CNC) scored a price-to-earnings ratio above its average ratio, recording 22.11 x from its present earnings ratio. Plus, the 36-month beta value for CNC is at 0.58. Opinions of the stock are interesting as 13 analysts out of 21 who provided ratings for Centene Corporation declared the stock was a “buy,” while 2 rated the stock as “overweight,” 5 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $98.68, which is $23.07 above the current price. CNC currently public float of 563.21M and currently shorts hold a 1.13% ratio of that float. Today, the average trading volume of CNC was 3.50M shares.

CNC’s Market Performance

CNC stocks went down by -1.28% for the week, with a monthly drop of -7.21% and a quarterly performance of 2.59%, while its annual performance rate touched -1.79%. The volatility ratio for the week stands at 1.96% while the volatility levels for the past 30 days are set at 2.37% for Centene Corporation. The simple moving average for the period of the last 20 days is -3.67% for CNC stocks with a simple moving average of -10.04% for the last 200 days.

Analysts’ Opinion of CNC

Many brokerage firms have already submitted their reports for CNC stocks, with BofA Securities repeating the rating for CNC by listing it as a “Underperform.” The predicted price for CNC in the upcoming period, according to BofA Securities is $85 based on the research report published on December 13th of the previous year 2022.

Argus, on the other hand, stated in their research note that they expect to see CNC reach a price target of $90. The rating they have provided for CNC stocks is “Buy” according to the report published on September 30th, 2022.

Wells Fargo gave a rating of “Equal Weight” to CNC, setting the target price at $99 in the report published on August 26th of the previous year.

CNC Trading at -7.16% from the 50-Day Moving Average

After a stumble in the market that brought CNC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -23.11% of loss for the given period.

Volatility was left at 2.37%, however, over the last 30 days, the volatility rate increased by 1.96%, as shares sank -7.88% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.68% lower at present.

During the last 5 trading sessions, CNC fell by -1.28%, which changed the moving average for the period of 200-days by -13.04% in comparison to the 20-day moving average, which settled at $78.32. In addition, Centene Corporation saw -7.62% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at CNC starting from BAGLEY SHANNON, who sale 9,000 shares at the price of $92.21 back on Jul 29. After this action, BAGLEY SHANNON now owns 118,194 shares of Centene Corporation, valued at $829,890 using the latest closing price.

Robinson Lori Jean, the Director of Centene Corporation, sale 1,200 shares at $92.77 during a trade that took place back on Jul 28, which means that Robinson Lori Jean is holding 9,908 shares at $111,324 based on the most recent closing price.

Stock Fundamentals for CNC

Current profitability levels for the company are sitting at:

  • +2.77 for the present operating margin

The net margin for Centene Corporation stands at +1.07. Equity return is now at value 7.60, with 2.50 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.11.

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