Centene (NYSE:CNC) Issues FY24 Earnings Guidance

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

Centene Price Performance

Centene stock opened at $58.60 on Wednesday. The firm’s 50-day moving average is $69.34 and its two-hundred day moving average is $71.41. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $29.58 billion, a P/E ratio of 10.17, a P/E/G ratio of 0.83 and a beta of 0.49. Centene has a 12-month low of $58.56 and a 12-month high of $81.42.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Sanford C. Bernstein cut their price target on Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. Jefferies Financial Group cut Centene from a “buy” rating to a “hold” rating and lowered their price target for the company from $83.00 to $69.00 in a report on Wednesday, July 24th. Robert W. Baird decreased their target price on shares of Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, TD Cowen increased their price target on shares of Centene from $80.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.92.

Insider Buying and Selling at Centene

In related news, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction that occurred on Friday, November 8th. The shares were purchased at an average cost of $60.80 per share, with a total value of $250,313.60. Following the transaction, the chief executive officer now owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.29% of the stock is currently owned by corporate 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.