Centene (NYSE:CNC) Releases 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 -.

Centene Stock Performance

Shares of NYSE CNC opened at $59.42 on Friday. Centene has a 12-month low of $55.03 and a 12-month 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 company has a market cap of $30.00 billion, a PE ratio of 10.32, a P/E/G ratio of 0.78 and a beta of 0.46. The stock has a 50 day simple moving average of $61.01 and a 200-day simple moving average of $68.29.

Analysts Set New Price Targets

A number of brokerages have recently commented on CNC. Cantor Fitzgerald reissued an “overweight” rating and set a $90.00 price target on shares of Centene in a report on Wednesday, December 11th. Jefferies Financial Group lowered shares of Centene from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $68.00 to $52.00 in a research note on Tuesday, December 10th. StockNews.com lowered shares of Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Wells Fargo & Company decreased their price objective on shares of Centene from $91.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Oppenheimer cut their target price on shares of Centene from $95.00 to $85.00 and set an “outperform” rating on the stock 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 issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $80.92.

Insider Activity

In other news, CEO Sarah London acquired 4,117 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was acquired at an average cost of $60.80 per share, with a total value of $250,313.60. Following the acquisition, the chief executive officer now owns 667,229 shares in the company, valued at approximately $40,567,523.20. This represents a 0.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Greco bought 17,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average price of $59.75 per share, for a total transaction of $1,015,750.00. Following the acquisition, 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 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. 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.