Centene Corporation (NYSE: CNC)’s stock price has increased by 0.32 compared to its previous closing price of 63.34. Nevertheless, the company has seen a loss of -5.02% in its stock price over the last five trading days. 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) has a price-to-earnings ratio of 31.25x that is above its average ratio. Additionally, the 36-month beta value for CNC is 0.58. There are mixed opinions on the stock, with 12 analysts rating it as a “buy,” 2 rating it as “overweight,” 7 rating it as “hold,” and 0 rating it as “sell.”
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The average price predicted by analysts for CNC is $89.86, which is $27.18 above the current price. The public float for CNC is 545.25M and currently, short sellers hold a 1.27% ratio of that float. The average trading volume of CNC on March 16, 2023 was 3.78M shares.
CNC’s Market Performance
CNC’s stock has seen a -5.02% decrease for the week, with a -13.05% drop in the past month and a -26.87% fall in the past quarter. The volatility ratio for the week is 2.93%, and the volatility levels for the past 30 days are at 2.15% for Centene Corporation The simple moving average for the last 20 days is -8.31% for CNC stock, with a simple moving average of -22.47% for the last 200 days.
Analysts’ Opinion of CNC
Many brokerage firms have already submitted their reports for CNC stocks, with Deutsche Bank repeating the rating for CNC by listing it as a “Hold.” The predicted price for CNC in the upcoming period, according to Deutsche Bank is $79 based on the research report published on March 08th of the current year 2023.
JP Morgan, on the other hand, stated in their research note that they expect to see CNC reach a price target of $90, previously predicting the price at $94. The rating they have provided for CNC stocks is “Neutral” according to the report published on February 23rd, 2023.
BofA Securities gave a rating of “Underperform” to CNC, setting the target price at $85 in the report published on December 13th of the previous year.
CNC Trading at -13.10% 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 -35.51% of loss for the given period.
Volatility was left at 2.15%, however, over the last 30 days, the volatility rate increased by 2.93%, as shares sank -13.41% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -22.52% lower at present.
During the last 5 trading sessions, CNC fell by -5.02%, which changed the moving average for the period of 200-days by -22.41% in comparison to the 20-day moving average, which settled at $68.81. In addition, Centene Corporation saw -22.52% 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 Asher Andrew Lynn, who purchase 3,800 shares at the price of $71.97 back on Feb 10. After this action, Asher Andrew Lynn now owns 314,755 shares of Centene Corporation, valued at $273,486 using the latest closing price.
Asher Andrew Lynn, the EVP, CFO of Centene Corporation, purchase 3,000 shares at $71.89 during a trade that took place back on Feb 09, which means that Asher Andrew Lynn is holding 310,955 shares at $215,670 based on the most recent closing price.
Stock Fundamentals for CNC
Current profitability levels for the company are sitting at:
- +2.67 for the present operating margin
The net margin for Centene Corporation stands at +0.83. Equity return is now at value 4.70, with 1.50 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.06.
Conclusion
In conclusion, Centene Corporation (CNC) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
