Centene CorpCNC
± MixedCapitalrelevance
Index reclassification to growth benchmarks may attract style-focused investors, but analyst fair value suggests overvaluation.
Impact on stocks 1
Health Care
Centene CorpCentene has been dropped from Russell's defensive and value defensive indexes and added to several growth benchmarks, a reclassification that may alter how index funds and style-focused investors view the stock. The move follows a 90-day share price return of 80.56% and a one-year total shareholder return of 114.22%, though the five-year total shareholder return shows a decline of 7.31%. The most followed analyst narrative pegs Centene's fair value at $61.83, suggesting the stock is 8.9% overvalued at its last close of $67.35, while its price-to-sales ratio of 0.2x sits far below the US healthcare industry average of 1.5x.
Centene CorpIndex reclassification to growth benchmarks may attract style-focused investors, but analyst fair value suggests overvaluation.