WellCare Health Plans, Inc. (NYSE:WCG) had its price objective upped by Bank of America Corporation from $185.00 to $189.00 in a report issued on Friday morning. They currently have a neutral rating on the stock.
Several other brokerages have also recently issued reports on WCG. Jefferies Group LLC restated a hold rating and issued a $142.00 price objective on shares of WellCare Health Plans in a research note on Wednesday, April 19th. Morgan Stanley started coverage on WellCare Health Plans in a research note on Tuesday, June 6th. They issued an equal weight rating and a $183.00 price objective for the company. Leerink Swann restated an outperform rating and issued a $225.00 price objective (up from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Deutsche Bank AG raised their price objective on WellCare Health Plans from $185.00 to $192.00 and gave the stock a buy rating in a research note on Thursday. Finally, Zacks Investment Research lowered WellCare Health Plans from a buy rating to a hold rating in a report on Thursday, May 4th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $165.75.
WellCare Health Plans (WCG) traded up 0.19% during midday trading on Friday, hitting $182.56. The company’s stock had a trading volume of 211,935 shares. The company’s 50-day moving average is $175.00 and its 200 day moving average is $152.29. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 30.04 and a beta of 0.85. WellCare Health Plans has a one year low of $105.16 and a one year high of $184.88.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.42. WellCare Health Plans had a return on equity of 14.75% and a net margin of 1.85%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period last year, the business posted $1.06 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts predict that WellCare Health Plans will post $6.86 EPS for the current year.
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In other news, SVP Yount Michael sold 2,500 shares of WellCare Health Plans stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $166.57, for a total value of $416,425.00. Following the sale, the senior vice president now directly owns 4,804 shares of the company’s stock, valued at $800,202.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Lynn Asher sold 7,314 shares of WellCare Health Plans stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $175.04, for a total value of $1,280,242.56. Following the completion of the sale, the chief financial officer now directly owns 13,244 shares in the company, valued at $2,318,229.76. The disclosure for this sale can be found here. Insiders sold 24,019 shares of company stock worth $4,133,066 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.
Several hedge funds have recently modified their holdings of WCG. Advisory Services Network LLC acquired a new position in WellCare Health Plans during the first quarter valued at $112,000. Creative Planning increased its position in WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock valued at $121,000 after buying an additional 25 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in WellCare Health Plans during the second quarter valued at $121,000. Neuberger Berman Group LLC increased its position in WellCare Health Plans by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after buying an additional 16 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in WellCare Health Plans during the first quarter valued at $217,000. 98.65% of the stock is currently 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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