Extremely significant negative changes in Centene Corp (NYSE: CNC) investment behavior have recently occurred: its longer term price trend turned down, and the stock fell on very heavy volume.
Recent meaningful negative changes in fundamentals have affected Centene Corp (NYSE: CNC): the stock’s power rating fell below 50, and significant quarterly sales deceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of C. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
CNC is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Centene has a current Value Trend Rating of C (Neutral). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Centene has a slightly positive Appreciation Score of 66 and a neutral Power Rating of 44, with the Neutral Value Trend Rating the result.
Recent Price Action
On 6/28/24, Centene Corp (NYSE: CNC) stock declined modestly by -1.6%, closing at $66.30. Moreover, this decline was accompanied by exceptionally high trading volume at 380% of normal. Relative to the market the stock has been weak over the last nine months and has declined -1.7% during the last week.
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