Sep. 11 at 8:02 PM
$CNC
Remaining Buyback potential +8.5% approx 2.50 p/s
The numbers
Market cap (CNC, Sept 11, 2025): ≈
$18.9B (price ~
$34.4 × ~550M shares outstanding).
Shares outstanding: ~550M (approx).
Buyback amount:
$1.5B.
Average buyback price assumption: let’s use ~
$35/share.
Estimate shares repurchased
Shares repurchased=42.9 M
Outstanding shares drop from ~550M → ~507M (a reduction of ~7.8%).
EPS impact
If net income stays the same:
EPS would rise by roughly 8.5% (because earnings are spread across fewer shares).
Stock price impact
There are two main ways to think about the effect:
Mechanical valuation effect (if P/E multiple stays constant):
EPS rises ~8.5%.
Stock price could be expected to rise proportionally:
34.4×1.085≈37.3
34.4×1.085≈37.3
That’s about a +8.5% lift.
Market signaling effect:
Could push the premium higher if investors view buybacks as management confidence.
