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 Performance

NYSE CNC opened at $58.69 on Friday. The company’s fifty day moving average is $68.61 and its two-hundred day moving average is $71.21. The firm has a market capitalization of $29.63 billion, a price-to-earnings ratio of 10.19, a P/E/G 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. Centene has a 52-week low of $57.56 and a 52-week high of $81.42.

Wall Street Analysts Forecast Growth

CNC has been the subject of several recent research reports. Oppenheimer cut their price target on Centene from $110.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 29th. Jefferies Financial Group cut Centene from a “buy” rating to a “hold” rating and reduced their target price for the stock from $83.00 to $69.00 in a research report on Wednesday, July 24th. Stephens reissued an “equal weight” rating and issued a $78.00 price target on shares of Centene in a report on Monday, August 5th. Robert W. Baird lowered their price target on Centene from $83.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Finally, StockNews.com cut Centene from a “strong-buy” rating to a “buy” rating in a report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.92.

Insider Transactions at Centene

In other Centene news, CEO Sarah London purchased 4,117 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were acquired at an average cost of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the purchase, 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 0.62 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Lynn Asher acquired 17,200 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was acquired at an average cost of $58.14 per share, with a total value of $1,000,008.00. Following the acquisition, the chief financial officer now directly owns 486,847 shares in the company, valued at approximately $28,305,284.58. This trade represents a 3.66 % 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.