Currently, Centene Corporation [CNC] is trading at $63.19, down -0.55%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The CNC shares have lost -3.59% over the last week, with a monthly amount drifted -13.89%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Centene Corporation [NYSE: CNC] stock has seen the most recent analyst activity on March 08, 2023, when Deutsche Bank downgraded its rating to a Hold and also revised its price target to $79 from $94. Previously, JP Morgan downgraded its rating to Neutral on February 23, 2023, and dropped its price target to $90. On December 13, 2022, downgrade downgraded it’s rating to Underperform and revised its price target to $85 on the stock. Argus started tracking the stock assigning a Buy rating and suggested a price target of $90 on September 30, 2022. Wells Fargo downgraded its rating to a Equal Weight and reduced its price target to $99 on August 26, 2022. In a note dated July 14, 2022, Jefferies upgraded an Buy rating on this stock and boosted its target price from $82 to $115.
This stock has fluctuated between a low of $62.38 and a high of $98.53 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $89.86 within the next 12 months. Centene Corporation [NYSE: CNC] shares were valued at $63.19 at the most recent close of the market. An investor can expect a potential return of 42.21% based on the average CNC price forecast.
Analyzing the CNC fundamentals
Recent quarter sales for Centene Corporation [NYSE:CNC] were 35.56 billion which represents 9.20% growth.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 62.66 points at the first support level, and at 62.12 for the second support level. However, for the 1st resistance point, the stock is sitting at 63.70, and for the 2nd resistance point, it is at 64.20.
Centene Corporation [CNC] reported earnings per share of $0.86 for its fiscal quarter that ended on 12/30/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.85/share, meaning a difference of $0.01 and a surprise factor of 1.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2022 were $1.3 per share as compared to estimates of $1.24 per share, a difference of $0.06 representing a surprise of 4.80%.
Ratios To Look Out For
Considering the valuation of this stock, the price to sales ratio is 0.33, the price to book ratio is 1.88 and the P/E (TTM) ratio is 31.08.
Transactions by insiders
Insider trading has also been a hot topic recently, with 15 insiders purchasing 26,545 shares and 5 selling 55,094 shares in the past 3 months. Recent insider trading involved Asher Andrew Lynn, EVP, CFO, that happened on Feb 10 when 3800.0 shares were purchased. EVP, CFO, Asher Andrew Lynn completed a deal on Feb 09 to buy 3000.0 shares. Meanwhile, Director Samuels Theodore R. II bought 7000.0 shares on Feb 08.