Shares of Centene Corporation (NYSE:CNC) traded today at $83.08, eclipsing its 12-month high. So far today, approximately 1.7 million shares have been exchanged, as compared to an average 30-day volume of 4.4 million shares.
Centene is a managed-care organization focused on government-sponsored healthcare plans, including Medicaid, Medicare, and the individual exchanges. After acquiring WellCare in early 2020, Centene served 22 million medical members as of September 2021, mostly in Medicaid (68% of membership), the individual exchanges (10%), Medicare Advantage (6%), and the balance in Tricare (West region), correctional facility, and international plans. The company also serves 4 million users through the Medicare Part D pharmaceutical program.
There is potential upside of 138.9% for shares of Centene Corporation based on a current price of $82.10 and an average consensus analyst price target of $196.15.
In the past 12 months, Centene Corporation share prices are bracketed by a low of $57.16 and a high of $83.08 and are now at $82.10, 44% above that low price.
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