CNC Stock Summary and Trading Ideas (Centene | NYSE:CNC)

Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. Centene served 24 million medical members as of June 2023, mostly in Medicaid (67% of membership), the individual exchanges (14%), and Medicare Advantage (6%) plans. The company also serves traditional Medicare users with its Medicare Part D pharmaceutical program.

Centene trades on the NYSE stock market under the symbol CNC.

As of April 19, 2024, CNC stock price climbed to $75.15 with 2,543,599 million shares trading.

CNC has a beta of 0.26, meaning it tends to be less sensitive to market movements. CNC has a correlation of 0.02 to the broad based SPY ETF.

CNC has a market cap of $40.19 billion. This is considered a Large Cap stock.

In the last 3 years, CNC stock traded as high as $98.53 and as low as $59.33.

The top ETF exchange traded funds that CNC belongs to (by Net Assets): VTI, VOO, VO, SPY, IVV.

CNC has underperformed the market in the last year with a return of +9.0%, while the SPY ETF gained +21.2%. In the last 3 month period, CNC fell short of the market, returning -1.9%, while SPY returned +4.3%. However, in the most recent 2 weeks CNC has outperformed the stock market by returning +4.3%, while SPY returned -3.5%.

CNC support price is $72.52 and resistance is $74.99 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CNC stock will trade within this expected range on the day.