Cowen and Company assumed coverage on shares of WellCare Health Plans, Inc. (NYSE:WCG) in a report released on Monday. The firm set an “outperform” rating and a $200.00 price target on the stock. Cowen and Company’s target price would indicate a potential upside of 19.27% from the stock’s previous close.
Other research analysts have also issued research reports about the company. ValuEngine lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub lowered WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Mitsubishi UFJ Financial Group assumed coverage on WellCare Health Plans in a report on Thursday, September 21st. They set an “overweight” rating and a $204.00 target price for the company. Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, Deutsche Bank AG lifted their target price on WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $177.93.
Shares of WellCare Health Plans (WCG) opened at 167.68 on Monday. WellCare Health Plans has a 52-week low of $113.34 and a 52-week high of $184.88. The company has a market cap of $7.46 billion, a PE ratio of 29.46 and a beta of 0.88. The company’s 50-day moving average is $171.35 and its 200 day moving average is $169.45.
WellCare Health Plans (NYSE:WCG) last posted its earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.29. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a return on equity of 14.10% and a net margin of 1.72%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.23 EPS. On average, analysts anticipate that WellCare Health Plans will post $7.01 EPS for the current year.
In other news, CEO Kenneth A. Burdick sold 8,500 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $174.24, for a total transaction 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 $4,116,768.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $171.97, for a total value of $1,440,076.78. Following the transaction, the director now directly owns 5,722 shares of the company’s stock, valued at approximately $984,012.34. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in WellCare Health Plans in the 2nd quarter worth approximately $121,000. Advisory Services Network LLC lifted its position in WellCare Health Plans by 8.4% in the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after buying an additional 67 shares during the last quarter. Eagle Global Advisors LLC bought a new stake in WellCare Health Plans in the 2nd quarter worth approximately $211,000. Neuberger Berman Group LLC lifted its position in WellCare Health Plans by 1.1% in the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock worth $216,000 after buying an additional 16 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in WellCare Health Plans in the 1st quarter worth approximately $217,000. 97.78% 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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