Centene Corporation’s Stock Price Soars to $77.10, Marking a Robust 4.93% Increase

Centene Corporation (CNC)

77.10 USD +3.62 (+4.93%) Volume: 6.24M

Centene Corporation’s stock price has surged to 77.10 USD, marking a significant trading session increase of +4.93%. With a robust trading volume of 6.24M and an impressive year-to-date percentage change of +3.89%, CNC’s stock performance remains a promising prospect for investors seeking growth opportunities.

Latest developments on Centene Corporation

Today, Centene Corp. stock experienced underperformance in comparison to its competitors, despite showing daily gains. This comes amidst news of Health Net, a subsidiary of Centene Corp., providing special assistance to members affected by the Gold Complex and Park Fires in California. Additionally, Advisors Asset Management Inc. sold shares of Centene Co. (NYSE:CNC), while Bellevue Group AG decreased its holdings in the company. These events may have contributed to the fluctuations in Centene Corp‘s stock price today.

Centene Corporation on Smartkarma

Analysts at Baptista Research have provided bullish coverage of Centene Corp on Smartkarma, highlighting the company’s positive financial performance in the first quarter of the year. In their research reports titled “Centene Corporation: Medicaid Managed Care Expansion and Optimization! – Major Drivers” and “Centene Corporation: Leveraging Dual Eligibles in Medicare and Medicaid & Other Major Drivers,” Baptista Research notes that Centene exceeded expected adjusted earnings per share (EPS) at $2.26. The analysts have revised their full-year 2024 EPS forecast to over $6.80 per share, citing solid progress and operational efficiency despite ongoing challenges.

A look at Centene Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Centene Corporation, a multi-line managed care organization, is poised for strong long-term growth according to Smartkarma Smart Scores. With a top score of 5 in Growth, the company is expected to expand its Medicaid and Medicaid-related programs in various states. Additionally, Centene received high scores in Value and Resilience, indicating a solid financial foundation and ability to withstand market fluctuations.

However, Centene’s low score of 1 in Dividend may deter income-focused investors. Despite this, the company’s overall outlook remains positive, with a respectable score of 4 in Momentum. Centene’s diverse range of health plans and specialty services, such as behavioral health and nurse triage, position it well for continued success in the managed care industry.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma