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Tuesday, March 21, 2023

Centene Corporation (NYSE: CNC) Could Achieve Gains In The Near Future

After Hours

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. After-hours trades for Centene Corporation (CNC) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$1.42, or -2.23%, to $62.12. The Centene Corporation has recorded 281,943 volume in the after hours trading session. Most recently, Yahoo Finance reported about the stock as it publicized that Canada Nickel Demonstrates Robust Nickel Recoveries at the Reid Ultramafic Nickel Project, Announces Closing of Texmont Acquisition.


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Stocks Info

Centene Corporation is listed on the NYSE in the Healthcare sector while operating in the Healthcare Plans industry. At the end of the last regular session, the stock closed at $63.54 and fluctuated between $63.84 as its day high and $62.38 as its day low. The current market capitalization of Centene Corporation is $35.26B. A total of 3.66 million shares were traded on the day, compared to an average of 3.78M shares.

Insider Activity

Insider trades are also considered as indicators of how a stock will perform in the future, in addition to stock predictions. During the recent three months, CNC has seen 13 BUY and 4 SELL insider trades, representing the acquisition of 19,745 and the disposition of 53,439 shares. Over the last 12 months, there were 56 BUYs and 29 SELLs from insiders. Insiders purchased 273,230 shares during that period but sold 146,200.

In the most recent transaction, Asher Andrew Lynn bought 3,800 shares of CNC for 71.97 per share on Feb 10. After the transaction, the EVP, CFO now owns 314,755 company shares. In a previous transaction on Feb 09, Asher Andrew Lynn bought 3,000 shares at 71.89 per share. CNC shares that EVP, CFO owns now total 310,955.

Among the insiders who bought shares, Samuels Theodore R. II acquired of 7,000 shares on Feb 08 at a per-share price of $71.88. This resulted in the Director holding 11,912 shares of CNC after the transaction. In another insider transaction, MURRAY JAMES E bought 6,750 shares at $73.30 per share on Feb 08. Company shares held by the EVP, Chief Operating Officer now total 136,220.

Despite rarely being accurate, price targets can exert some form of influence at times, and are often regarded as valuable by markets. According to analysts who have offered 12-month price targets for CNC in the last 3 months, the mean price target is $89.86 with high estimates of $110.00 and low estimates of $73.00. In terms of 52-week highs and lows, CNC has a high of $98.53 and a low of $62.88.

As of this writing, CNC has an earnings estimate of $2.14 per share for the current quarter. EPS was calculated based on a consensus of 15 estimates, with a high estimate of $4.35 per share and a lower estimate of $1.72. The company reported an EPS of $1.3 in the last quarter, which was 4.80% higher than expectations of $1.24.

Balance Sheet Annually/Quarterly

As well as showing the assets and liabilities of the company, the balance sheet also shows the amount invested in equity by investors. Investors can analyze a company’s future prospects by calculating its financial ratios based on this information.

Analysts Opinion

After-hours and pre-market trading may carry slightly higher risks than regular market hours. As issuers often announce important financial information outside regular trading hours, extended-hours trading may result in wider spreads for a particular security. That is because extended-hours trading may result in lower liquidity and higher volatility. Currently, 22 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for CNC is Sell with a score of 4.13. A total of 12 analysts rated the stock as Buy while 2 rated it as Overweight while 7 rated it as Hold. Among the other participants, 1 thought the stock was Underweight and 0 thought it should be Sold.

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