Centene Corporation (CNC - Free Report) was a big mover last session, as the company saw its shares rise over 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent trend for the company—as the stock is now down 18.3% in the past one-month time frame.
The move came after the company signed an agreement to buy all the assets of Fidelis Care for $3.75 billion in order to expand operation in New York.
The company has seen one positive and five negative estimate revisions in the past two months, while its Zacks Consensus Estimate for the current quarter has also moved lower over the same time frame, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Centene currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
Centene Corporation Price and Consensus
A better-ranked stock in the Medical- Health Maintenance Organization industry is Aetna, Inc.(AET - Free Report) , which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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