Centene (NYSE:CNC) Releases FY24 Earnings Guidance

Centene (NYSE:CNC) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $6.80 for the period, compared to the consensus estimate of $6.72.

Analysts Set New Price Targets

Several research firms have recently commented on CNC. Robert W. Baird decreased their price objective on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. TD Cowen raised their price objective on Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein decreased their price objective on Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Oppenheimer decreased their target price on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 29th. Finally, StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Price Performance

Centene stock opened at $58.04 on Thursday. Centene has a 52-week low of $57.56 and a 52-week high of $81.42. The company has a market cap of $29.30 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.80 and a beta of 0.49. The firm’s fifty day moving average is $68.91 and its 200 day moving average is $71.30. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64.

Insider Activity

In related news, CEO Sarah London acquired 4,117 shares of Centene stock in a transaction on Friday, November 8th. The shares were bought at an average cost of $60.80 per share, with a total value of $250,313.60. Following the completion of the purchase, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at $40,567,523.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sarah London acquired 4,117 shares of the business’s stock in a transaction on Friday, November 8th. The shares were acquired at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the transaction, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were purchased at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the transaction, the chief financial officer now directly owns 486,847 shares of the company’s stock, valued at approximately $28,305,284.58. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

Centene Company Profile

Centene Corporation operates as a healthcare enterprise that provides programs and services to under-insured and uninsured families, commercial organizations, and military families in the United States. The company operates through Medicaid, Medicare, Commercial, and Other segments. The Medicaid segment offers health plan coverage, including medicaid expansion, aged, blind, disabled, children’s health insurance program, foster care, medicare-medicaid plans, long-term services and support.