Centene (NYSE:CNC) Issues FY 2024 Earnings Guidance

Centene (NYSE:CNC) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 6.800- for the period, compared to the consensus earnings per share estimate of 6.700. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNC. Jefferies Financial Group cut Centene from a “hold” rating to an “underperform” rating and cut their price target for the stock from $68.00 to $52.00 in a research note on Tuesday, December 10th. Robert W. Baird cut their target price on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Stephens dropped their price target on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. StockNews.com downgraded shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Sanford C. Bernstein dropped their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.92.

Centene Stock Down 0.2 %

NYSE:CNC opened at $59.58 on Friday. The firm has a market capitalization of $30.08 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. Centene has a 52 week low of $55.03 and a 52 week high of $81.42. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $60.75 and a 200-day moving average of $68.21.

Insider Buying and Selling

In other Centene news, Director Thomas Greco purchased 17,000 shares of Centene stock in a transaction on Wednesday, December 18th. The stock was bought at an average price of $59.75 per share, for a total transaction of $1,015,750.00. Following the transaction, the director now owns 19,309 shares of the company’s stock, valued at $1,153,712.75. The trade was a 736.25 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sarah London purchased 4,117 shares of the stock in a transaction dated Friday, November 8th. The shares were acquired at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the acquisition, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. This trade represents a 0.62 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 45,010 shares of company stock worth $2,660,276 in the last three months. 0.33% of the stock is owned by insiders.

About Centene

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.