Centene Corporation’s Stock Price Drops to $68.48, Marks a 6.06% Decline

Centene Corporation (CNC)

68.48 USD -4.42 (-6.06%) Volume: 6.83M

Centene Corporation’s stock price stands at 68.48 USD, experiencing a significant drop of -6.06% in this trading session with a trading volume of 6.83M. With a year-to-date percentage change of -7.72%, CNC’s stock performance indicates a bearish trend in the market.

Latest developments on Centene Corporation

Centene Corp. (NYSE:CNC) has been making headlines recently with a series of significant events. Peach State Health Plan and the Centene Foundation announced a generous $100,000 donation to support hurricane relief efforts in Georgia. Additionally, Centene’s subsidiary, Meridian in Michigan, was awarded a contract to serve dual eligible Medicare and Medicaid members in the state. Despite these positive developments, Centene Corp. stock has been underperforming in the market, with shares sold by Swedbank AB. However, Cwm LLC still maintains a substantial $3.58 million position in the company. Investors are eagerly awaiting Centene Corporation’s earnings report, hoping for positive news to boost the stock price further.

Centene Corporation on Smartkarma

Analysts at Baptista Research have published two bullish reports on Centene Corp on Smartkarma. The first report, titled “Centene Corporation: Medicaid Managed Care Expansion and Optimization! – Major Drivers,” highlights the company’s strong financial performance in the first quarter of the year. Centene exceeded their expected adjusted earnings per share (EPS) at $2.26, leading to an upward revision in their full-year 2024 forecast to over $6.80 per share. The second report, “Centene Corporation: Leveraging Dual Eligibles in Medicare and Medicaid & Other Major Drivers,” also emphasizes positive developments and strategic maneuvers that have contributed to the company’s robust start to the year.

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 specializing in Medicaid programs, shows a promising long-term outlook according to Smartkarma Smart Scores. With strong scores in Growth, Resilience, and Momentum, the company is positioned for continued success in the future. Centene’s focus on expanding its health plans across multiple states and offering specialty services like behavioral health demonstrates its commitment to growth and innovation in the healthcare industry.

Although Centene Corp receives a lower score in Dividend, its high scores in other areas indicate a solid overall outlook. The company’s emphasis on value and resilience further solidifies its position as a key player in the managed care sector. Investors looking for a company with a strong growth potential and a commitment to providing quality healthcare services may find Centene Corp to be a promising investment option.

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