Centene Corporation ($CNC) Stock Forecast: Down 5.0% Today

What is Centene Corporation?

Centene Corporation (NYSE: CNC) is a leading healthcare enterprise with a market capitalization of $38.52 billion. The company has been outperforming the market with an average annual return of 20.0% over the past 15 years.

Why is Centene Corporation going down?

CNC stock is down 5.0% on Sep 5, 2024 13:50

• The bearish movement in Centene's stock today could be attributed to profit-taking after a significant 29% rise in the stock price over the past year.
• The news of Centene's subsidiary, Iowa Total Care, being awarded a statewide Medicaid contract might not have had an immediate positive impact on the stock price, leading to a sell-off.
• Investors may be cautious about the sustainability of Centene's recent gains, especially with concerns about the broader market conditions affecting healthcare stocks.

CNC Price Chart

CNC News

Here's How Much You Would Have Made Owning Centene Stock In The Last 15 Years - Centene ( NYSE:CNC )

Centene CNC has outperformed the market over the past 15 years by 8.3% on an annualized basis producing an average annual return of 20.0%. Currently, Centene has a market capitalization of $38.52 billion.

https://www.benzinga.com/insights/news/24/09/40719523/heres-how-much-you-would-have-made-owning-centene-stock-in-the-last-15-years

CENTENE SUBSIDIARY IOWA TOTAL CARE AWARDED STATEWIDE MEDICAID CONTRACT - Centene ( NYSE:CNC )

ST. LOUIS, Sept. 4, 2024 /PRNewswire/ -- Centene Corporation CNC, a leading healthcare enterprise committed to helping people live healthier lives, announced today that its Iowa-based subsidiary, Iowa Total Care, has been selected by the Iowa Department of Health and Human Services ( HHS ) to ...

https://www.benzinga.com/pressreleases/24/09/n40711404/centene-subsidiary-iowa-total-care-awarded-statewide-medicaid-contract

Centene Stock Rises 29% in a Year: Evaluating the Road Ahead

CNC gains from improved premiums and service revenues, acquisitions and adequate operating cash flows.

https://www.zacks.com/stock/news/2330582/centene-stock-rises-29-in-a-year-evaluating-the-road-ahead

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Centene Corporation Price History

04.08.2024 - CNC Stock was down 8.4%

• Despite positive developments regarding Centene's subsidiary, Iowa Total Care, securing a statewide Medicaid contract, the stock CNC faced a bearish movement.
• The stock's 29% rise in a year, attributed to enhanced premiums, service revenues, acquisitions, and operating cash flows, did not translate into a positive market performance today.
• External factors or general market trends may have influenced CNC's bearish movement, overshadowing the favorable internal advancements within the company.

04.08.2024 - CNC Stock was down 6.4%

• Today's downward trend in CNC stock could be due to profit-taking following a notable 29% increase in the stock price in the previous year. While the company has seen improvements in premiums, service revenues, acquisitions, and robust operating cash flows, the current market sentiment appears more cautious. Investors may be reevaluating the stock's valuation and growth potential, influencing the decline.

05.08.2024 - CNC Stock was down 5.0%

• The bearish movement in Centene's stock today could be attributed to profit-taking after a significant 29% rise in the stock price over the past year.
• The news of Centene's subsidiary, Iowa Total Care, being awarded a statewide Medicaid contract might not have had an immediate positive impact on the stock price, leading to a sell-off.
• Investors may be cautious about the sustainability of Centene's recent gains, especially with concerns about the broader market conditions affecting healthcare stocks.

02.03.2024 - CNC Stock was down 5.9%

• The announcement of unchanged Medicare Advantage rates in 2025 by the Biden Administration had a negative impact on health insurers like Centene.
• The retirement news of James E. Murray, a key figure in Centene, could have added uncertainty and contributed to the bearish sentiment.
• The stock rating downgrade of Centene by StockNews.com might have further fueled the negative market movement.
• Despite the bearish trend, Centene has historically demonstrated outperformance in the market over the past decade, highlighting its long-term growth potential.

02.03.2024 - CNC Stock was down 7.5%

• CNC stock faced a decline in today's trading.
• The announcement of James E. Murray's retirement in 2024 potentially raised questions among investors regarding the company's future leadership.
• The recent industry-wide decrease in health insurers, such as UnitedHealth Group (UNH) and Humana (HUM), as a result of the Biden Administration's decision affecting Medicare Advantage rates, likely had a negative impact on CNC.
• Despite Centene's strong valuation and growth prospects, prevailing concerns in the broader market and industry environment appear to have overshadowed the positive outlook, leading to the downward movement in CNC stock.

26.03.2024 - CNC Stock was down 5.0%

• CNC updated its 2024 EPS guidance and revenue projections, indicating positive growth prospects. However, the market may have expected even higher figures, leading to disappointment and a bearish movement.
• Despite Centene Corporation beating Q1 profit estimates, the market reaction could be attributed to profit-taking by investors who were anticipating even stronger results.
• The overall healthcare industry, while profitable, is facing scrutiny due to the complex nature of the U.S. healthcare system and the burden of medical debt on consumers. This broader context might have influenced CNC's market movement today.
• Investors might have been cautious ahead of CNC's Q1 earnings, leading to a sell-off post-announcement despite the anticipated growth in commercial marketplace membership.

29.04.2024 - CNC Stock was down 7.1%

• The decline in CNC stock price might be related to recent insider selling by Centene director Coughlin, sparking concerns among investors about the company's future outlook.
• Despite Centene's collaboration with Cityblock to improve value-based care in Central Florida, the negative impact of insider selling news may have overshadowed this positive development.
• Investors appear to view the insider selling as a lack of confidence in CNC's performance, leading to a sell-off of CNC shares, despite the beneficial partnership announcement with Cityblock.

26.06.2024 - CNC Stock was up 5.1%

• Centene Corp (CNC) outperformed expectations in Q2, posting an EPS of $2.16 and revenue of $39.84 billion.
• Following this strong performance, the stock surged by 3% due to robust guidance and impressive earnings, bolstering investor confidence.
• The company exceeded its profit target after adapting to changing government risk adjustment policies, demonstrating flexibility in response to market dynamics.
• Despite some fluctuations in earnings estimates, Centene maintained its fiscal 2024 earnings outlook and raised its revenue forecast, signaling a optimistic outlook for its future performance.

26.06.2024 - CNC Stock was up 8.5%

• Centene Corporation (NYSE: CNC) recently reported its financial results for the third quarter of the fiscal year.
• The company saw a significant increase in revenue and adjusted earnings during this period.
• Centene also raised its full-year guidance for revenue and adjusted earnings per share.
• The company attributed this strong performance to its focus on providing quality healthcare services to its customers.

26.06.2024 - CNC Stock was up 9.4%

• Company A reported strong Q2 2024 earnings, beating both EPS and revenue estimates, showcasing solid financial performance.
• Despite a decline in Medicaid membership levels, Company A's improved Marketplace membership growth helped offset the negatives, contributing to the bullish market movement.
• Investors reacted positively to Company A's revenue growth of 5.9% year-over-year and adjusted EPS of $2.42, surpassing analyst expectations, leading to an increase in the stock price.
• The market's optimism towards Company A's financial results and strategic initiatives likely drove the bullish movement in the stock today.

25.06.2024 - CNC Stock was up 5.1%

• Centene's stock saw a significant increase in value today, despite mixed opinions around the company.
• Despite a cut in the price target, Centene's stock maintained a buy rating, reflecting optimism in its future prospects.
• The company's optimistic quarterly profit forecast, though it did not meet all investors' expectations, suggests a positive outlook for Centene.
• The prevailing positivity surrounding Centene's better-than-anticipated profit forecast likely influenced the upsurge in its stock price.

30.06.2024 - CNC Stock was up 5.3%

• Astrana Health's acquisition of Collaborative Health Systems from Centene could have positively impacted CNC's stock price, signaling potential growth and expansion opportunities.
• Despite Centene's Q2 earnings missing on declining Medicaid membership, the company managed to beat earnings per share and revenue estimates for the same period, which likely boosted investor confidence.
• The news of Centene outperforming revenue expectations in Q2 2024 could have led to increased investor interest and a bullish market movement for CNC.
• Overall, the combination of strategic acquisitions, mixed earnings results, and revenue beats contributed to the bullish movement in Centene Corporation's stock today.