WellCare Health Plans’ (WCG) “Market Perform” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company restated their market perform rating on shares of WellCare Health Plans, Inc. (NYSE:WCG) in a research note released on Wednesday morning, The Fly reports. The firm currently has a $188.00 price objective on the stock, up from their prior price objective of $175.00.

WCG has been the subject of a number of other reports. Piper Jaffray Companies restated a buy rating and set a $214.00 target price on shares of WellCare Health Plans in a report on Wednesday. Jefferies Group LLC raised their target price on WellCare Health Plans from $189.00 to $190.00 and gave the company a hold rating in a report on Friday, October 13th. Credit Suisse Group restated a neutral rating and set a $163.00 target price (up from $155.00) on shares of WellCare Health Plans in a report on Thursday, July 13th. BidaskClub cut WellCare Health Plans from a strong-buy rating to a buy rating in a report on Friday, July 28th. Finally, Mitsubishi UFJ Financial Group began 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. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $190.25.

WellCare Health Plans (WCG) traded up $5.57 during midday trading on Wednesday, hitting $206.50. The stock had a trading volume of 351,526 shares, compared to its average volume of 434,518. The firm has a market capitalization of $9,193.79, a PE ratio of 22.35, a PEG ratio of 1.63 and a beta of 0.81. The company has a current ratio of 1.28, a quick ratio of 1.31 and a debt-to-equity ratio of 0.51.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $2.18. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.37 billion. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The company’s revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS. equities analysts forecast that WellCare Health Plans will post 8.45 earnings per share for the current fiscal year.

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In other news, CEO Kenneth A. Burdick sold 8,500 shares of the firm’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 sale, the chief executive officer now owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the firm’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 sale, the director now directly owns 5,722 shares in the company, valued at approximately $984,012.34. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. M&T Bank Corp raised its position in shares of WellCare Health Plans by 0.3% during the 2nd quarter. M&T Bank Corp now owns 2,088 shares of the company’s stock worth $376,000 after acquiring an additional 6 shares in the last quarter. World Asset Management Inc raised its position in shares of WellCare Health Plans by 0.3% during the 2nd quarter. World Asset Management Inc now owns 3,428 shares of the company’s stock worth $616,000 after acquiring an additional 11 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of WellCare Health Plans by 1.1% during the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock worth $216,000 after acquiring an additional 16 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of WellCare Health Plans by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,493 shares of the company’s stock worth $1,166,000 after acquiring an additional 22 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of WellCare Health Plans by 0.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 9,779 shares of the company’s stock worth $1,755,000 after acquiring an additional 63 shares in the last quarter. 98.40% of the stock is currently owned by institutional investors and hedge funds.

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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