The stock price of Centene Corp. (NYSE: CNC) has surged by 0.65 when compared to previous closing price of 74.33, but the company has seen a 1.09% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-05-03 that The Medical-HMO industry continues to witness an expanding customer base resulting from contract wins. However, high technology expenses and a shortage of medical personnel are a concern.
Is It Worth Investing in Centene Corp. (NYSE: CNC) Right Now?
The price-to-earnings ratio for Centene Corp. (NYSE: CNC) is 14.86x, which is above its average ratio. Moreover, the 36-month beta value for CNC is 0.48. Analysts have varying opinions on the stock, with 7 analysts rating it as a “buy,” 5 as “overweight,” 5 as “hold,” and 0 as “sell.”
The public float for CNC is 528.08M and currently, short sellers hold a 1.44% of that float. On May 06, 2024, CNC’s average trading volume was 3.25M shares.
CNC’s Market Performance
CNC stock saw an increase of 1.09% in the past week, with a monthly gain of 3.83% and a quarterly increase of -0.80%. The volatility ratio for the week is 2.87%, and the volatility levels for the last 30 days are 2.46% for Centene Corp. (CNC). The simple moving average for the past 20 days is 1.80% for CNC’s stock, with a 3.31% simple moving average for the past 200 days.
Analysts’ Opinion of CNC
Many brokerage firms have already submitted their reports for CNC stocks, with Stephens repeating the rating for CNC by listing it as a “Equal-Weight.” The predicted price for CNC in the upcoming period, according to Stephens is $85 based on the research report published on March 21, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see CNC reach a price target of $101. The rating they have provided for CNC stocks is “Overweight” according to the report published on March 06th, 2024.
Wells Fargo gave a rating of “Overweight” to CNC, setting the target price at $90 in the report published on January 02nd of the current year.
CNC Trading at -1.41% 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 -8.11% of loss for the given period.
Volatility was left at 2.46%, however, over the last 30 days, the volatility rate increased by 2.87%, as shares surge +2.79% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.57% lower at present.
During the last 5 trading sessions, CNC rose by +1.09%, which changed the moving average for the period of 200-days by +9.23% in comparison to the 20-day moving average, which settled at $73.59. In addition, Centene Corp. saw 0.81% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at CNC starting from Robinson Lori Jean, who sale 10,000 shares at the price of $77.41 back on Feb 13 ’24. After this action, Robinson Lori Jean now owns 11,455 shares of Centene Corp., valued at $774,100 using the latest closing price.
FASOLA KENNETH J, the President of Centene Corp., sale 12,000 shares at $75.07 during a trade that took place back on Feb 07 ’24, which means that FASOLA KENNETH J is holding 235,365 shares at $900,817 based on the most recent closing price.
Stock Fundamentals for CNC
Current profitability levels for the company are sitting at:
- 0.02 for the present operating margin
- 0.18 for the gross margin
The net margin for Centene Corp. stands at 0.02. The total capital return value is set at 0.06. Equity return is now at value 10.52, with 3.30 for asset returns.
Based on Centene Corp. (CNC), the company’s capital structure generated 0.4 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 0.67. The interest coverage ratio of the stock is -7.68.
Currently, EBITDA for the company is 2.93 billion with net debt to EBITDA at 0.13. When we switch over and look at the enterprise to sales, we see a ratio of 0.26. The receivables turnover for the company is 9.24for trailing twelve months and the total asset turnover is 1.88. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.17.
Conclusion
To wrap up, the performance of Centene Corp. (CNC) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
