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Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio

Zacks Equity Research
·2-min read

Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Why This 1 Growth Stock Should Be On Your Watchlist

Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

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Centene (CNC)

Centene Corporation is a well-diversified healthcare company that primarily provides a set of services to the government sponsored healthcare programs. The company serves the under-insured and uninsured individuals through member-focused services. It is also engaged in providing education and outreach programs to inform and assist members in accessing quality, appropriate healthcare services.

CNC is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of A. Earnings are expected to grow 1.8% year-over-year for the current fiscal year, with sales growth of 2.9%.

Five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.05 to $6.80 per share for 2024. CNC boasts an average earnings surprise of 10.5%.

Centene is also cash rich. The company has generated cash flow growth of 21%, and is expected to report cash flow expansion of 3.1% in 2024.

CNC should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.

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Centene Corporation (CNC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research