Centene Corporation ($CNC) Stock Forecast: Up 10.1% Today

What is Centene Corporation?

Centene Corporation (NYSE: CNC) operates in the healthcare sector, offering services to government healthcare programs. The company experienced a significant upward movement in the stock market recently.

Why is Centene Corporation going up?

CNC stock is up 10.1% on Oct 25, 2024 13:42

• Centene Corporation (CNC) posted third-quarter sales of $42.02 billion, surpassing expectations with a 10.5% year-over-year increase, leading to a positive reaction from investors.
• The company exceeded earnings per share (EPS) forecasts, reporting an adjusted EPS of $1.62 compared to the consensus of $1.38, demonstrating strong financial performance.
• The better-than-expected earnings and revenue numbers likely fueled the rise in CNC's stock price, reflecting investor optimism about the company's growth and financial well-being.
• Despite concerns about lower premiums and rising medical costs impacting CNC's earnings, the robust quarterly results have reassured investors and generated increased interest in the stock.

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CNC Technical Analysis

CNC News

Why Is Centene Stock Trading Higher On Friday? - Centene ( NYSE:CNC )

On Friday, Centene Corporation CNC third-quarter sales of $42.02 billion, up 10.5% year-over-year, beating the consensus of $37.69 billion. Centene earned an adjusted EPS of $1.62 during the quarter, beating the consensus of $1.38.

https://www.benzinga.com/news/earnings/24/10/41542651/centene-says-it-is-positioned-to-capture-long-term-growth-in-government-sponsored-healthcare-lifts-

Centene ( CNC ) Q3 Earnings and Revenues Beat Estimates

Centene (CNC) delivered earnings and revenue surprises of 16.55% and 10.86%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2357476/centene-cnc-q3-earnings-and-revenues-beat-estimates

$1000 Invested In Centene 15 Years Ago Would Be Worth This Much Today - Centene ( NYSE:CNC )

Centene CNC has outperformed the market over the past 15 years by 6.76% on an annualized basis producing an average annual return of 18.69%. Currently, Centene has a market capitalization of $31.54 billion.

https://www.benzinga.com/insights/news/24/10/41500029/1000-invested-in-centene-15-years-ago-would-be-worth-this-much-today

Should You Buy or Sell Centene Stock Before Q3 Earnings Report?

CNC's third-quarter earnings are likely to have been affected by lower premiums and rising medical costs.

https://www.zacks.com/stock/news/2356041/should-you-buy-or-sell-centene-stock-before-q3-earnings-report

Unveiling Centene ( CNC ) Q3 Outlook: Wall Street Estimates for Key Metrics

Get a deeper insight into the potential performance of Centene (CNC) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics.

https://www.zacks.com/stock/news/2354645/unveiling-centene-cnc-q3-outlook-wall-street-estimates-for-key-metrics

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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.

17.09.2024 - CNC Stock was down 9.0%

• Despite Centene's subsidiary Meridian securing a contract for integrated Medicare and Medicaid services in Michigan, the stock trended bearishly.
• There is a possibility that the contract's impact was already factored into the stock price, creating a scenario of "buy the rumor, sell the news."
• Investors may have anticipated more favorable outcomes or revenue forecasts stemming from the contract, leading to disillusionment and a selloff.
• While Centene has showcased strong performance over the past two decades, this was insufficient to counter short-term market sentiment and profit-taking today.

25.09.2024 - CNC Stock was up 10.1%

• Centene Corporation (CNC) posted third-quarter sales of $42.02 billion, surpassing expectations with a 10.5% year-over-year increase, leading to a positive reaction from investors.
• The company exceeded earnings per share (EPS) forecasts, reporting an adjusted EPS of $1.62 compared to the consensus of $1.38, demonstrating strong financial performance.
• The better-than-expected earnings and revenue numbers likely fueled the rise in CNC's stock price, reflecting investor optimism about the company's growth and financial well-being.
• Despite concerns about lower premiums and rising medical costs impacting CNC's earnings, the robust quarterly results have reassured investors and generated increased interest in the stock.

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.

15.09.2024 - CNC Stock was down 5.0%

• The bearish movement in Centene's stock today could be attributed to profit-taking by investors after a period of strong performance.
• The news of the subsidiary being awarded a contract in Michigan may not have met investors' expectations, leading to a sell-off in the stock.
• Despite the long-term outperformance of Centene, short-term market sentiment and profit considerations can still drive stock movements in the opposite direction.

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.