Piper Jaffray Companies restated their buy rating on shares of WellCare Health Plans, Inc. (NYSE:WCG) in a research report sent to investors on Wednesday morning. They currently have a $214.00 price target on the stock.
Several other analysts also recently commented on the stock. Deutsche Bank AG boosted their target price on shares of WellCare Health Plans from $185.00 to $192.00 and gave the stock a buy rating in a research report on Thursday, July 13th. Cantor Fitzgerald reissued a buy rating and issued a $195.00 target price on shares of WellCare Health Plans in a research report on Saturday, August 26th. Zacks Investment Research downgraded shares of WellCare Health Plans from a buy rating to a hold rating in a research report on Monday, July 17th. Bank of America Corporation boosted their target price on shares of WellCare Health Plans from $185.00 to $189.00 and gave the stock a neutral rating in a research report on Friday, July 14th. Finally, Mitsubishi UFJ Financial Group initiated coverage on shares of WellCare Health Plans in a report on Thursday, September 21st. They set an overweight rating and a $204.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $190.25.
Shares of WellCare Health Plans (WCG) opened at $206.50 on Wednesday. The stock has a market capitalization of $8,945.72, a P/E ratio of 21.75, a P/E/G ratio of 1.58 and a beta of 0.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.31 and a current ratio of 1.28.
WellCare Health Plans (NYSE:WCG) last posted its earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $2.18. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.37 billion. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. equities analysts anticipate that WellCare Health Plans will post 8.27 EPS for the current fiscal year.
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In other WellCare Health Plans news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total value of $1,440,076.78. Following the completion of the sale, the director now directly owns 5,722 shares of the company’s stock, valued at approximately $984,012.34. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the completion of the sale, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in shares of WellCare Health Plans in the 2nd quarter valued at $121,000. Advisory Services Network LLC raised its stake in shares of WellCare Health Plans by 8.4% in the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock valued at $155,000 after buying an additional 67 shares in the last quarter. Eagle Global Advisors LLC acquired a new position in shares of WellCare Health Plans in the 2nd quarter valued at $211,000. Harvest Fund Management Co. Ltd raised its stake in shares of WellCare Health Plans by 29.3% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock valued at $237,000 after buying an additional 299 shares in the last quarter. Finally, Ronald Blue & Co. LLC acquired a new position in shares of WellCare Health Plans in the 2nd quarter valued at $240,000. Institutional investors own 98.40% 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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