WellCare Health Plans, Inc. (NYSE:WCG) had its price objective upped by investment analysts at Jefferies Group LLC from $190.00 to $210.00 in a report released on Wednesday, November 1st. The brokerage currently has a “hold” rating on the stock. Jefferies Group LLC’s price target would indicate a potential upside of 4.71% from the stock’s previous close. Jefferies Group also issued estimates for WellCare Health Plans’ Q4 2017 earnings at $0.69 EPS, Q2 2018 earnings at $2.24 EPS, Q3 2018 earnings at $2.39 EPS and Q4 2018 earnings at $1.84 EPS.
Several other analysts also recently commented on the stock. Wells Fargo & Company restated a “market perform” rating and set a $188.00 price objective (up from $175.00) on shares of WellCare Health Plans in a research report on Wednesday, November 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $214.00 target price on shares of WellCare Health Plans in a research note on Wednesday, November 1st. BMO Capital Markets started coverage on shares of WellCare Health Plans in a research note on Monday, October 16th. They set an “outperform” rating and a $215.00 target price for the company. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. Finally, Cowen and Company initiated coverage on shares of WellCare Health Plans in a research note on Monday, October 9th. They issued an “outperform” rating and a $200.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. WellCare Health Plans has an average rating of “Hold” and a consensus price target of $195.27.
WellCare Health Plans (WCG) opened at $200.55 on Wednesday. The stock has a market cap of $8,928.80, a PE ratio of 21.70, a P/E/G ratio of 1.54 and a beta of 0.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 1.28. WellCare Health Plans has a 52-week low of $119.69 and a 52-week high of $208.89.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $2.18. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.37 billion. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 earnings per share. research analysts forecast that WellCare Health Plans will post 8.46 EPS for the current fiscal year.
In other news, Director Carol Burt sold 997 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total transaction of $201,593.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the sale, the chief executive officer now directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. acquired a new stake in WellCare Health Plans during the third quarter worth approximately $103,000. State of Alaska Department of Revenue acquired a new stake in WellCare Health Plans during the second quarter worth approximately $121,000. Advisory Services Network LLC raised its holdings in WellCare Health Plans by 8.4% during the second quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after purchasing an additional 67 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in WellCare Health Plans during the second quarter worth approximately $211,000. Finally, Neuberger Berman Group LLC grew its position in shares of WellCare Health Plans by 1.1% during the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock worth $216,000 after acquiring an additional 16 shares during the last quarter. 98.17% of the stock is currently owned by institutional investors.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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