Centene (NYSE:CNC) Issues FY24 Earnings Guidance

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

Centene Stock Down 1.0 %

NYSE:CNC opened at $58.04 on Thursday. Centene has a 1-year low of $57.56 and a 1-year high of $81.42. The company has a 50-day moving average of $68.91 and a 200 day moving average of $71.30. The firm has a market cap of $29.30 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 0.80 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CNC shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Centene from $82.00 to $87.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Stephens reissued an “equal weight” rating and set a $78.00 price target on shares of Centene in a research report on Monday, August 5th. Robert W. Baird decreased their price target on shares of Centene from $83.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Sanford C. Bernstein decreased their price target on shares of Centene from $96.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Barclays decreased their price target on shares of Centene from $97.00 to $91.00 and set an “overweight” rating for the company in a research report on Tuesday, October 29th. Seven research analysts have rated the stock with a hold rating and eight 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 price target of $83.92.

Insider Transactions at Centene

In other news, CEO Sarah London acquired 4,117 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were acquired at an average price of $60.80 per share, with a total value of $250,313.60. Following the purchase, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at $40,567,523.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Centene news, CEO Sarah London bought 4,117 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the transaction, the chief executive officer now directly owns 667,229 shares of the company’s stock, valued at approximately $40,567,523.20. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Andrew Lynn Asher bought 17,200 shares of the firm’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 transaction, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.33% of the company’s stock.

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.