While Centene Corp has underperformed by -3.04%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, CNC fell by -23.13%, with highs and lows ranging from $81.42 to $56.44, whereas the simple moving average fell by -20.24% in the last 200 days.
On December 10, 2024, Jefferies Downgraded Centene Corp (NYSE: CNC) to Underperform. A report published by Jefferies on July 24, 2024, Downgraded its rating to ‘Hold’ for CNC. Robert W. Baird also rated CNC shares as ‘Neutral’, setting a target price of $83 on the company’s shares in an initiating report dated May 30, 2024. Stephens March 21, 2024d the rating to Equal-Weight on March 21, 2024, and set its price target from $92 to $85. Barclays initiated its ‘Overweight’ rating for CNC, as published in its report on March 06, 2024. Wells Fargo’s report from January 02, 2024 suggests a price prediction of $90 for CNC shares, giving the stock a ‘Overweight’ rating. BofA Securities also rated the stock as ‘Neutral’.
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Analysis of Centene Corp (CNC)
Further, the quarter-over-quarter increase in sales is 10.46%, showing a positive trend in the upcoming months.
Centene Corp’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 11.66% is sufficient for you to turn a profit off your investment.
For any stock, average volume can be an extremely valuable indicator of volatility, and CNC is registering an average volume of 5.60M. On a monthly basis, the volatility of the stock is set at 2.81%, whereas on a weekly basis, it is put at 3.51%, with a loss of -4.54% over the past seven days. Furthermore, long-term investors anticipate a median target price of $80.25, showing growth from the present price of $56.71, which can serve as yet another indication of whether CNC is worth investing in or should be passed over.
How Do You Analyze Centene Corp Shares?
A giant in the Healthcare Plans market, Centene Corp (CNC) is based in the USA. When comparing Centene Corp shares with other companies under Healthcare, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 9.83, there is a growth in quarterly earnings of 57.17%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.09%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 98.27% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
CNC shares are owned by institutional investors to the tune of 98.27% at present.
