Centene (NYSE:CNC) Releases FY24 Earnings Guidance

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

Wall Street Analyst Weigh In

CNC has been the subject of a number of recent research reports. Stephens reiterated an “equal weight” rating and set a $78.00 price target on shares of Centene in a report on Monday, August 5th. Robert W. Baird dropped their target price on Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. TD Cowen upped their price objective on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com cut shares of Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Wells Fargo & Company reduced their price target on shares of Centene from $91.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Centene has an average rating of “Moderate Buy” and a consensus target price of $83.92.

Centene Price Performance

Shares of NYSE CNC traded down $0.20 during mid-day trading on Wednesday, reaching $58.40. 293,470 shares of the company traded hands, compared to its average volume of 3,939,308. The firm has a market cap of $29.48 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.83 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. Centene has a fifty-two week low of $58.18 and a fifty-two week high of $81.42. The stock has a fifty day simple moving average of $69.34 and a 200-day simple moving average of $71.41.

Insider Activity

In other Centene news, CEO Sarah London bought 4,117 shares of Centene stock in a transaction on Friday, November 8th. The stock was purchased at an average cost of $60.80 per share, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

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.