Centene (NYSE:CNC) Issues FY 2024 Earnings Guidance

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Barclays lifted their price objective on shares of Centene from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Sanford C. Bernstein cut their target price on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group lowered shares of Centene from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $68.00 to $52.00 in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $75.00 price objective (down previously from $80.00) on shares of Centene in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Centene has a consensus rating of “Moderate Buy” and a consensus target price of $80.92.

Centene Trading Down 0.2 %

Shares of 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 PEG ratio of 0.78 and a beta of 0.46. Centene has a one year low of $55.03 and a one year 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 business has a 50-day moving average price of $60.75 and a two-hundred day moving average price of $68.21.

Insider Activity at Centene

In other news, Director Thomas Greco bought 17,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $59.75 per share, with a total value of $1,015,750.00. Following the transaction, the director now directly owns 19,309 shares in the company, valued at approximately $1,153,712.75. This trade represents a 736.25 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sarah London purchased 4,117 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was purchased at an average cost of $60.80 per share, with a total value of $250,313.60. Following 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 disclosure for this purchase can be found here. Over the last three months, insiders have purchased 45,010 shares of company stock valued at $2,660,276. 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.