Centene (NYSE:CNC) Releases FY 2024 Earnings Guidance

Centene (NYSE:CNC - Get Free Report) 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 traded down $0.13 during trading on Friday, reaching $59.58. 26,095,713 shares of the stock traded hands, compared to its average volume of 4,267,528. The company has a 50-day moving average of $61.01 and a 200-day moving average of $68.29. Centene has a 52-week low of $55.03 and a 52-week high of $81.42. The stock has a market capitalization of $30.08 billion, a P/E ratio of 10.34, a price-to-earnings-growth ratio of 0.78 and a beta of 0.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.10 and a quick ratio of 1.10.

Analyst Ratings Changes

Several research analysts recently commented on CNC shares. Truist Financial cut their price objective on shares of Centene from $89.00 to $84.00 and set a "buy" rating for the company in a report on Friday, December 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $90.00 price target on shares of Centene in a report on Wednesday, December 11th. Oppenheimer decreased their price objective on Centene from $95.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, December 13th. StockNews.com downgraded Centene from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 28th. Finally, Barclays increased their price target on shares of Centene from $91.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $80.92.

Insider Activity

In related news, CFO Andrew Lynn Asher bought 17,200 shares of the stock in a transaction dated Wednesday, November 13th. The stock was bought at an average price of $58.14 per share, with a total value of $1,000,008.00. Following the purchase, the chief financial officer now owns 486,847 shares in the company, valued at approximately $28,305,284.58. The trade was a 3.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sarah London purchased 4,117 shares of Centene stock in a transaction that occurred on Friday, November 8th. The shares were bought at an average price of $60.80 per share, for a total transaction of $250,313.60. Following the completion of the transaction, the chief executive officer now owns 667,229 shares in the company, valued at $40,567,523.20. The trade was a 0.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 45,010 shares of company stock worth $2,660,276. 0.33% of the stock is currently owned by insiders.

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.