Centene (NYSE:CNC) Updates FY 2024 Earnings Guidance

Centene (NYSE:CNC) updated its FY 2024 earnings guidance on Friday. 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 -.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CNC. Jefferies Financial Group cut Centene from a “hold” rating to an “underperform” rating and reduced their target price for the company from $68.00 to $52.00 in a report on Tuesday, December 10th. 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. Stephens dropped their target price on shares of Centene from $75.00 to $73.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Centene in a research report on Wednesday, December 11th. Finally, Oppenheimer decreased their target price on Centene from $95.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.92.

Centene Stock Down 0.2 %

Shares of NYSE CNC opened at $59.58 on Friday. Centene has a 52 week low of $55.03 and a 52 week high of $81.42. The company has a market cap of $30.08 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 0.78 and a beta of 0.46. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.64. The firm’s fifty day moving average is $60.75 and its 200 day moving average is $68.20.

Insider Buying and Selling at Centene

In other Centene news, CFO Andrew Lynn Asher purchased 17,200 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were acquired at an average price of $58.14 per share, for a total transaction of $1,000,008.00. Following the purchase, the chief financial officer now directly owns 486,847 shares of the company’s stock, valued at $28,305,284.58. The trade was a 3.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sarah London bought 4,117 shares of Centene 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 completion of the acquisition, the chief executive officer now directly 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 90 days, insiders bought 45,010 shares of company stock valued at $2,660,276. 0.33% of the stock is currently owned by company 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.