Gains May Be On The Menu For Centene Corp. (NYSE: CNC)

Currently, there are 534.48M common shares owned by the public and among those 529.07M shares have been available to trade.

However, the script later moved the day high at 78.66, down -6.82%. The company’s stock has a 5-day price change of -5.99% and -2.37% over the past three months. CNC shares are trading -2.37% year to date (YTD), with the 12-month market performance up to 12.97% higher. It has a 12-month low price of $60.83 and touched a high of $81.42 over the same period. CNC has an average intraday trading volume of 2.99 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.58%, -6.02%, and 1.19% respectively.

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Institutional ownership of Centene Corp. (NYSE: CNC) shares accounts for 94.85% of the company’s 534.48M shares outstanding.

It has a market capitalization of $38.75B and a beta (3y monthly) value of 0.39. The stock’s trailing 12-month PE ratio is 14.75, while the earnings-per-share (ttm) stands at $4.91. The company has a PEG of 1.26 and the debt-to-equity ratio at 0.73. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.75% over the week and 1.94% over the month.

Earnings per share for the fiscal year are expected to increase by 1.41%, and 11.72% over the next financial year. EPS should shrink at an annualized rate of 11.71% over the next five years, compared to 17.00% over the past 5-year period.

Looking at the support for the CNC, a number of firms have released research notes about the stock. Stephens stated their Equal-Weight rating for the stock in a research note on March 21, 2024, with the firm’s price target at $92-$85. Barclays coverage for the Centene Corp. (CNC) stock in a research note released on March 06, 2024 offered a Overweight rating with a price target of $101. Wells Fargo was of a view on January 02, 2024 that the stock is Overweight, while BofA Securities gave the stock Neutral rating on September 05, 2023, issuing a price target of $79- $72. Morgan Stanley on their part issued Equal-Weight rating on August 30, 2023.

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