Centene (NYSE:CNC) Updates FY 2024 Earnings Guidance

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

Centene Stock Up 0.4 %

CNC stock opened at $59.71 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.10 and a current ratio of 1.10. Centene has a fifty-two week low of $55.03 and a fifty-two week high of $81.42. The stock’s 50 day simple moving average is $61.01 and its 200 day simple moving average is $68.29. The company has a market cap of $30.15 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CNC shares. Cantor Fitzgerald restated an “overweight” rating and set a $90.00 price objective on shares of Centene in a report on Wednesday, December 11th. StockNews.com downgraded Centene from a “strong-buy” rating to a “buy” rating in a research note on Monday, October 28th. Stephens lowered their price objective on Centene from $75.00 to $73.00 and set an “equal weight” rating for the company in a research note on Friday, December 13th. UBS Group raised Centene from a “neutral” rating to a “buy” rating and lifted their target price for the company from $79.00 to $80.00 in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $75.00 price objective (down from $80.00) on shares of Centene in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $80.92.

Insider Buying and Selling

In other news, Director Theodore R. Samuels II purchased 5,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $58.86 per share, with a total value of $294,300.00. Following the completion of the acquisition, the director now owns 23,000 shares in the company, valued at $1,353,780. This trade represents a 27.78 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Thomas Greco bought 17,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $59.75 per share, for a total transaction of $1,015,750.00. Following the completion of the purchase, the director now directly owns 19,309 shares in the company, valued at approximately $1,153,712.75. The trade was a 736.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 45,010 shares of company stock valued at $2,660,276. 0.33% of the stock is 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.