Centen Corporation [CNC] Is currently below its 200 period moving average at 1.02: what does this mean?

Centen Corporation [NYSE: CNC] The scrip closed at $82.96, up 1.02% or 0.84 points with a heavy trading volume of 3328743 shares. Health Net is providing special assistance to members affected by wildfires, flash floods, the company reported on November 22, 2022.

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Health Net assists members in Alpine, El Dorado, Inyo, Los Angeles and Placer counties during emergencies.

In response to Gov. Gavin Newsom’s declared state of emergency in Alpine, El Dorado, Inyo, Los Angeles and Placer counties, Health Net is providing specialized assistance to assist members affected by wildfires and flash flooding. Health Net seeks to ensure that its members have access to essential prescription drugs, important Health Net information and other health services should their services be interrupted.

It opened the trading session at $82.73, shares rose to $83.53 and fell to $82.37, the range in which the stock price traded throughout the day. The daily chart for CNC shows that the company has registered a loss of -4.87% in the last six months. However, it is still -19.35% lower than its most recent trading low.

If we look at the average trading volume of 3.99M shares, CNC reached a volume of 3328743 in the most recent trading day which is why market watchdogs consider the stock as active.

Here’s what top stock market gurus are saying about Centen Corporation [CNC],

Based on careful and fact-backed analyzes by Wall Street experts, the current consensus on the target price for CNC shares is $101.32 per share. Target prices and analysis on the performance of stocks are usually carefully studied by market experts, and the current Wall Street consensus on CNC stock is a recommendation at 2.00. This rating represents a strong buy recommendation on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 indicates hold and 2 indicates buy.

Argus has an outlook for the shares of Centene Corporation on September 30, 2022, keeping its view on the stock as Buy, in line with its previous recommendation. While these analysts kept the previous recommendation, Wells Fargo raised its target price from $103 to $99. The new note on the price target was issued on August 26, 2022, which represents the official price target for Centene Corporation stock. Previously, the target price was raised once again to $107, while analysts at Barclays maintained an overweight rating on CNC stock. Analysts raised their price target for CNC shares from 82 to 115 on July 14, 2022.

The Average True Range (ATR) for Centene Corporation is set at 2.47, The Price to Sales ratio for CNC stock over the trailing 12 months period is 0.32. The Price to Book ratio for the previous quarter was 1.88, the Price to Cash per share for the same quarter was set at 27.04. The Free Cash Flow value for CNC during the trailing twelve months was 6.14.

Trading Performance Analysis for CNC Stock

Centen Corporation [CNC] Moved into the green zone at the end of last week, in a positive trend and with a gain of 4.13. With this latest performance, CNC shares are up 9.43% over the past four-week period, as well as down -4.87% over the past 6 months — not to mention an 11.99% gain over the past year of trading .

Overbought and oversold stocks can be easily detected with the Relative Strength Index (RSI), where an RSI result of over 70 will result in overbought, and any rate below 30 will indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CNC stock for the past two-week period is set at 53.59, with an RSI of 55.26 for the last single of trading hit, and a three-week RSI of 51.99 set for Centen Corporation. [CNC], The current moving average of this stock for last 50 days of trading is 80.36, while for last one week it was recorded at 81.64 and for last 200 days it is 84.78.

Centen Corporation [CNC]: A Deep Dive into Fundamental Analysis

Operating margin for any stock indicates how profitable an investment will be, and Centene Corporation [CNC] The shares currently have an operating margin of +2.77. The Net Margin of Centene Corporation is currently recorded at +1.07.

The Return on Equity for this stock is leaning at 5.12, with the Return on Assets sitting at 1.80.

Centen Corporation [CNC]: Earnings Per Share (EPS) Analysis

The company’s progress can be viewed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting 5-year EPS growth rates for CNC. When it comes to quoted price, analysts expect a 5-year EPS growth rate of 13.71% for Centene Corporation.

Analysis of Insider Ownership in Centen Corporation [CNC]

Institutional investors currently hold approximately $44,580 million or 98.30% of CNC stock in their hands. The top three institutional holders of CNC stock are: Vanguard Group INC with ownership of 65,173,608, which is approximately -0.246% of the company’s market cap and approximately 0.50% of total institutional ownership; Capital World Investors holds 48,666,122 shares of CNC stock shares with an estimated value of $4.04 billion; and BLACKROCK INC., with $3.49 billion in CNC stock currently holding approximately -0.8% of the company’s market capitalization.

Shares positions of Centene Corporation held by institutional investors increased at the end of October and during the October reporting period, where 408 institutional holders increased their positions in Centene Corporation [NYSE:CNC] By approximately 30,975,622 shares. Additionally, 407 investors reduced positions by approximately 40,072,760 shares, while 125 investors held positions by 466,324,588 shares. The aforementioned changes put institutional holdings at 537,372,970 shares, according to the latest SEC report filing. There were 102 new institutional investments in CNC stock for a total of 10,289,055 shares, while 86 institutional investors sold 14,338,678 shares during the same period.

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