Centene's 5.9% Surge: A Glimpse of Enduring Strength

Strength Seen in Centene (CNC) Can Its 59% Jump Turn into More Strength?

Centene Corporation (CNC) has been on a tear lately, with its stock price soaring 59% in the past three months. And according to Zacks, there's still plenty of room for the company to grow.

Centene, a leading healthcare company, has been performing exceptionally well due to its diverse portfolio of healthcare services. The company has been expanding its offerings in the Medicaid market, which has been a major driver of growth. Additionally, its acquisition of WellCare Health Plans in 2020 has also been a significant contributor to its success.

Analysts are optimistic about Centene's future prospects, with 14 of them rating the stock a "Strong Buy" and another 5 rating it a "Buy". This consensus is reflected in the company's Zacks Rank, which has been upgraded to a Zacks Rank #1 (Strong Buy).

The company's strong performance has also been driven by its ability to navigate the COVID-19 pandemic. Despite the challenges posed by the pandemic, Centene has continued to deliver strong results, with its revenue and earnings per share (EPS) both increasing in the first quarter of this year.

Looking ahead, Centene is expected to continue to benefit from its strong portfolio of healthcare services, as well as its ability to expand its offerings in the Medicaid market. The company is also expected to benefit from its acquisition of WellCare, which has added significant scale and capabilities to its operations.

Overall, Centene's strong performance and optimistic outlook make it an attractive investment opportunity for those looking to capitalize on the growing healthcare industry.