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 Analysts Forecast Growth

CNC has been the topic of several recent analyst reports. TD Cowen boosted their target price on shares of Centene from $80.00 to $89.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Oppenheimer cut their target price on Centene from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Stephens restated an “equal weight” rating and set a $78.00 price target on shares of Centene in a report on Monday, August 5th. Finally, Sanford C. Bernstein dropped their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.92.

Centene Stock Performance

Shares of CNC stock opened at $58.69 on Friday. Centene has a one year low of $57.56 and a one year high of $81.42. The company has a market cap of $29.63 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.80 and a beta of 0.49. The firm has a 50-day moving average of $68.61 and a 200-day moving average of $71.21. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Insider Buying and Selling at Centene

In related news, CEO Sarah London acquired 4,117 shares of the stock in a transaction on Friday, November 8th. The shares were acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the completion of the transaction, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. The trade was a 0.62 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew Lynn Asher bought 17,200 shares of Centene stock in a transaction dated Wednesday, November 13th. The shares were bought at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the completion of the transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 3.66 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.