Centene (NYSE:CNC) Updates FY 2024 Earnings Guidance

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

Centene Stock Performance

Shares of CNC opened at $59.58 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.64. Centene has a 12 month low of $55.03 and a 12 month high of $81.42. The firm has a fifty day simple moving average of $60.75 and a 200 day simple moving average of $68.20. The stock has a market capitalization of $30.08 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 0.78 and a beta of 0.46.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial decreased their price objective on shares of Centene from $89.00 to $84.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Barclays raised their price objective on Centene from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Jefferies Financial Group cut Centene from a “hold” rating to an “underperform” rating and dropped their price target for the company from $68.00 to $52.00 in a research note on Tuesday, December 10th. Wells Fargo & Company decreased their price target on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Robert W. Baird reduced their price target on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.92.

Insider Buying and Selling at Centene

In related news, CEO Sarah London bought 4,117 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were purchased at an average price of $60.80 per share, with a total value of $250,313.60. Following the completion of the purchase, the chief executive officer now owns 667,229 shares in the company, valued at $40,567,523.20. This represents a 0.62 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas Greco acquired 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $59.75 per share, for a total transaction of $1,015,750.00. Following the acquisition, the director now owns 19,309 shares in the company, valued at $1,153,712.75. This represents a 736.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 45,010 shares of company stock worth $2,660,276 over the last 90 days. 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.