Centene Corporation Stock Report
Publication Date: September 22, 2024
Company Overview
Centene Corporation (CNC) is a prominent healthcare enterprise headquartered in Saint Louis, Missouri. Established in 1984, Centene primarily focuses on delivering programs and services to underinsured and uninsured families, along with commercial and military organizations across the United States. Operating within the Managed Health Care industry, the company provides a diverse range of services, including Medicaid, Medicare, and Commercial health plan coverage, along with ancillary offerings like dental and speech therapy. By integrating public health services with government contracts, Centene plays an essential role in shaping the U.S. healthcare landscape.
Investment Potential
The healthcare plans industry continues to show promising growth potential, with total revenue approximating $144.06 billion. This sector’s solid demand has led financial analysts to recommend a “buy” position on Centene shares, highlighting the company’s resilience and prospects for capital appreciation. With a current stock price of $75.61 and an estimated target high price of $97.00, investors are presented with an opportunity for both short-term gains and long-term value. Analysts project a target mean price of $86.07 and a median target price of $86.50, suggesting favorable upside potentials that make Centene an attractive investment.
Market Sentiment and Technical Analysis
Centene Corporation currently has 526,030,016 shares outstanding, with a short interest of about 10,123,973 shares, reflecting approximately 2.18% of the company’s float. This low percentage indicates that bearish sentiment is minimal. The stock’s recent performance has shown volatility, with a fifty-two week range between a high of $81.42 and a low of $63.45. Priced just above its fifty-day moving average of $74.26, the current valuation suggests potential upward momentum. With the solid backing from 16 analysts, the overall consensus remains bullish, reinforcing the stock’s appeal amidst a fluctuating market.
Investors considering Centene Corporation may find that the combination of a robust healthcare framework, promising growth indicators, and favorable analyst sentiments sets the stage for a compelling investment opportunity in the evolving landscape of health plans.
| Metric | Value |
|---|---|
| Market Cap | $39.8b |
| Total Debt | $17.6b |
| Total Cash | $20.2b |
| Shares Outstanding | 526.0m |
| Float Shares | 523.5m |
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