WellCare Health Plans (NYSE:WCG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Saturday.
According to Zacks, “WellCare Health’s shares have outperformed the industry in a year’s time. Its robust inorganic growth is impressive. The company’s healthy balance sheet continues to support its operational excellence. Wellcare Health has also been witnessing revenue growth over the last six years. Following the strong third-quarter results, the company raised its guidance for 2017. However, its rising level of debt hurts the bottom line. Continuous increase in the total expenses also weighs on the margins.”
Several other equities analysts also recently issued reports on the stock. Goldman Sachs Group began coverage on shares of WellCare Health Plans in a research note on Wednesday, January 3rd. They set a “buy” rating and a $255.00 price objective on the stock. ValuEngine downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Cantor Fitzgerald reissued a “buy” rating and set a $235.00 price objective on shares of WellCare Health Plans in a research note on Monday, December 18th. Deutsche Bank upped their price objective on shares of WellCare Health Plans to $240.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Finally, Bank of America upped their price objective on shares of WellCare Health Plans from $210.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, November 17th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. WellCare Health Plans currently has a consensus rating of “Hold” and a consensus price target of $210.07.
WellCare Health Plans (WCG) opened at $211.32 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $9,408.39, a P/E ratio of 26.51, a P/E/G ratio of 1.60 and a beta of 0.82. WellCare Health Plans has a one year low of $136.23 and a one year high of $213.97.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $2.18. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.37 billion. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The company’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.63 earnings per share. research analysts forecast that WellCare Health Plans will post 8.38 EPS for the current fiscal year.
In related news, Director Carol Burt sold 997 shares of the company’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.47% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in WCG. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of WellCare Health Plans in the third quarter worth $103,000. Advisory Services Network LLC increased its position in shares of WellCare Health Plans by 8.4% in the second quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after acquiring an additional 67 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of WellCare Health Plans by 29.3% in the second quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock worth $237,000 after acquiring an additional 299 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of WellCare Health Plans by 12.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,661 shares of the company’s stock worth $298,000 after acquiring an additional 184 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in shares of WellCare Health Plans in the second quarter worth $307,000. 99.74% of the stock is 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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