WellCare Health Plans, Inc. (NYSE:WCG) had its target price boosted by investment analysts at Bank of America Corporation from $210.00 to $215.00 in a note issued to investors on Friday. The firm presently has a “neutral” rating on the stock. Bank of America Corporation’s price target would indicate a potential upside of 7.49% from the company’s previous close.
A number of other research analysts have also commented on WCG. BidaskClub lowered shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley upped their target price on shares of WellCare Health Plans from $183.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 target price for the company in a research report on Friday, August 11th. Cantor Fitzgerald reiterated a “buy” rating and issued a $195.00 target price on shares of WellCare Health Plans in a research report on Saturday, August 26th. Finally, ValuEngine upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. WellCare Health Plans currently has a consensus rating of “Hold” and a consensus target price of $197.00.
WellCare Health Plans (NYSE WCG) traded up $1.82 on Friday, hitting $200.02. 465,400 shares of the stock were exchanged, compared to its average volume of 366,098. The stock has a market cap of $8,824.17, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.53 and a beta of 0.81. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28. WellCare Health Plans has a 12-month low of $125.00 and a 12-month high of $208.89.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $2.18. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $1.63 EPS. research analysts forecast that WellCare Health Plans will post 8.45 earnings per share for the current year.
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In other WellCare Health Plans news, Director Carol Burt sold 997 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.
Several large investors have recently modified their holdings of WCG. FMR LLC raised its stake in shares of WellCare Health Plans by 442.3% during the first quarter. FMR LLC now owns 54,878 shares of the company’s stock valued at $7,694,000 after acquiring an additional 44,759 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of WellCare Health Plans by 9.1% during the second quarter. Capstone Asset Management Co. now owns 7,009 shares of the company’s stock valued at $1,259,000 after acquiring an additional 587 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of WellCare Health Plans during the second quarter valued at about $737,000. State of Alaska Department of Revenue bought a new position in shares of WellCare Health Plans during the second quarter valued at about $121,000. Finally, Oregon Public Employees Retirement Fund raised its stake in shares of WellCare Health Plans by 4.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 16,284 shares of the company’s stock valued at $2,924,000 after acquiring an additional 723 shares during the last quarter. 98.17% of the stock is owned by hedge funds and other 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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