Bank of America upgraded shares of WellCare Health Plans (NYSE:WCG) from a neutral rating to a buy rating in a research report released on Friday, MarketBeat.com reports. They currently have $215.00 price target on the stock.
Several other research analysts have also commented on WCG. Deutsche Bank boosted their price objective on WellCare Health Plans to $240.00 and gave the stock a buy rating in a report on Monday, November 20th. Cantor Fitzgerald reissued a buy rating and set a $235.00 price objective on shares of WellCare Health Plans in a report on Monday, December 18th. ValuEngine lowered WellCare Health Plans from a buy rating to a hold rating in a report on Tuesday, December 19th. Goldman Sachs assumed coverage on WellCare Health Plans in a research note on Wednesday, January 3rd. They issued a buy rating and a $255.00 target price for the company. Finally, Zacks Investment Research lowered WellCare Health Plans from a strong-buy rating to a hold rating in a research note on Saturday, January 6th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. WellCare Health Plans currently has an average rating of Buy and a consensus target price of $217.86.
WellCare Health Plans stock opened at $194.75 on Friday. WellCare Health Plans has a twelve month low of $136.23 and a twelve month high of $221.75. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $8,672.02, a PE ratio of 22.83, a PEG ratio of 1.25 and a beta of 0.88.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.11. WellCare Health Plans had a return on equity of 17.10% and a net margin of 2.20%. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. WellCare Health Plans’s revenue was up 23.5% on a year-over-year basis. research analysts forecast that WellCare Health Plans will post 9.8 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of WCG. Highbridge Capital Management LLC bought a new stake in WellCare Health Plans in the third quarter valued at approximately $311,000. Schroder Investment Management Group lifted its position in WellCare Health Plans by 496.9% in the third quarter. Schroder Investment Management Group now owns 59,753 shares of the company’s stock valued at $10,213,000 after purchasing an additional 49,743 shares during the last quarter. BlackRock Inc. lifted its position in WellCare Health Plans by 0.6% in the fourth quarter. BlackRock Inc. now owns 4,271,908 shares of the company’s stock valued at $859,121,000 after purchasing an additional 25,516 shares during the last quarter. Vident Investment Advisory LLC lifted its position in WellCare Health Plans by 16.3% in the third quarter. Vident Investment Advisory LLC now owns 19,793 shares of the company’s stock valued at $3,399,000 after purchasing an additional 2,770 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in WellCare Health Plans by 1.3% in the fourth quarter. California Public Employees Retirement System now owns 142,055 shares of the company’s stock valued at $28,569,000 after purchasing an additional 1,891 shares during the last quarter. 98.26% of the stock is owned by institutional investors and hedge funds.
About WellCare Health Plans
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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