WellCare Health Plans (NYSE:WCG) was upgraded by Wells Fargo from a “market perform” rating to an “outperform” rating in a report issued on Wednesday.
WCG has been the subject of a number of other research reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $235.00 price objective on shares of WellCare Health Plans in a report on Tuesday, February 6th. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $216.00 price objective for the company in a report on Tuesday, February 20th. Morgan Stanley increased their price objective on WellCare Health Plans from $214.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Bank of America upgraded WellCare Health Plans from a “neutral” rating to a “buy” rating and set a $215.00 price target for the company in a report on Friday, March 16th. Finally, Cowen restated an “outperform” rating and set a $250.00 price target on shares of WellCare Health Plans in a report on Tuesday, January 23rd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. WellCare Health Plans presently has an average rating of “Buy” and an average target price of $217.86.
WCG stock opened at $192.55 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $8,577.21, a P/E ratio of 23.17, a P/E/G ratio of 1.37 and a beta of 0.88. WellCare Health Plans has a twelve month low of $136.23 and a twelve month high of $221.75.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.32 billion. WellCare Health Plans had a return on equity of 17.10% and a net margin of 2.20%. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. research analysts expect that WellCare Health Plans will post 9.8 EPS for the current year.
Several large investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of WellCare Health Plans during the third quarter valued at $103,000. Bessemer Group Inc. boosted its position in shares of WellCare Health Plans by 593.2% during the fourth quarter. Bessemer Group Inc. now owns 818 shares of the company’s stock valued at $165,000 after buying an additional 700 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of WellCare Health Plans during the fourth quarter valued at $202,000. Gotham Asset Management LLC purchased a new stake in shares of WellCare Health Plans during the fourth quarter valued at $202,000. Finally, Matisse Capital purchased a new stake in shares of WellCare Health Plans during the fourth quarter valued at $205,000. Hedge funds and other institutional investors own 98.23% of the company’s stock.
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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