WellCare Health Plans, Inc. (NYSE:WCG) had its price target boosted by Morgan Stanley from $184.00 to $212.00 in a research note issued to investors on Thursday, November 2nd. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 4.59% from the stock’s previous close.
A number of other equities analysts also recently commented on WCG. Credit Suisse Group reissued a “neutral” rating and set a $163.00 price objective (up from $155.00) on shares of WellCare Health Plans in a research report on Thursday, July 13th. Deutsche Bank AG boosted their price objective on WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Bank of America Corporation boosted their price objective on WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a research report on Friday, July 14th. Zacks Investment Research downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, BidaskClub downgraded WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. WellCare Health Plans currently has a consensus rating of “Hold” and a consensus price target of $200.20.
Shares of WellCare Health Plans (NYSE:WCG) traded up $3.42 during trading hours on Thursday, reaching $202.69. 309,852 shares of the company’s stock were exchanged, compared to its average volume of 364,565. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $8,870.00, a price-to-earnings ratio of 21.43, a PEG ratio of 1.53 and a beta of 0.81. WellCare Health Plans has a one year low of $130.38 and a one year high of $208.89.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $2.18. The company had revenue of $4.40 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 earnings per share. equities analysts forecast that WellCare Health Plans will post 8.45 earnings per share for the current fiscal year.
In other WellCare Health Plans news, Director Carol Burt sold 997 shares of the stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the transaction, the chief executive officer now owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in WellCare Health Plans by 1.6% in the second quarter. BlackRock Inc. now owns 4,260,559 shares of the company’s stock worth $765,026,000 after acquiring an additional 65,439 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of WellCare Health Plans by 1.8% in the second quarter. Acadian Asset Management LLC now owns 1,544,686 shares of the company’s stock valued at $277,365,000 after buying an additional 27,855 shares in the last quarter. Capital Research Global Investors purchased a new position in shares of WellCare Health Plans in the second quarter valued at $170,042,000. Renaissance Technologies LLC increased its position in shares of WellCare Health Plans by 37.7% in the second quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock valued at $152,858,000 after buying an additional 232,993 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of WellCare Health Plans by 60.1% in the third quarter. American Century Companies Inc. now owns 594,925 shares of the company’s stock valued at $102,172,000 after buying an additional 223,364 shares in the last quarter. Hedge funds and other institutional investors own 97.41% 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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