WellCare Health Plans, Inc. (NYSE:WCG) had its target price boosted by Morgan Stanley from $184.00 to $212.00 in a research report released on Thursday morning. Morgan Stanley currently has an equal weight rating on the stock.
WCG has been the subject of a number of other research reports. Zacks Investment Research raised WellCare Health Plans from a hold rating to a buy rating and set a $221.00 price target for the company in a research report on Thursday. Piper Jaffray Companies reaffirmed a buy rating and issued a $214.00 price target on shares of WellCare Health Plans in a research report on Wednesday, November 1st. Jefferies Group LLC boosted their price target on WellCare Health Plans from $189.00 to $190.00 and gave the stock a hold rating in a research report on Friday, October 13th. Credit Suisse Group reaffirmed a neutral rating and issued a $163.00 price target (up previously from $155.00) on shares of WellCare Health Plans in a research report on Thursday, July 13th. Finally, BidaskClub cut 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 assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $190.25.
Shares of WellCare Health Plans (NYSE:WCG) opened at $206.50 on Thursday. The stock has a market cap of $9,193.70, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.59 and a beta of 0.81. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.51.
WellCare Health Plans (NYSE:WCG) last announced 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. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. equities research analysts anticipate that WellCare Health Plans will post 8.45 earnings per share for the current fiscal year.
In other news, CEO Kenneth A. Burdick sold 8,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the company’s stock in a transaction that occurred 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 owns 5,722 shares in the company, valued at $984,012.34. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in WellCare Health Plans by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 58,653 shares of the company’s stock worth $10,528,000 after acquiring an additional 4,893 shares during the last quarter. Artemis Investment Management LLP bought a new stake in WellCare Health Plans during the 2nd quarter worth approximately $7,486,000. State of Tennessee Treasury Department grew its position in WellCare Health Plans by 25.0% during the 2nd quarter. State of Tennessee Treasury Department now owns 50,000 shares of the company’s stock worth $8,978,000 after acquiring an additional 10,000 shares during the last quarter. Pacer Advisors Inc. grew its position in WellCare Health Plans by 3.2% during the 2nd quarter. Pacer Advisors Inc. now owns 6,372 shares of the company’s stock worth $1,144,000 after acquiring an additional 195 shares during the last quarter. Finally, Globeflex Capital L P grew its position in WellCare Health Plans by 155.8% during the 2nd quarter. Globeflex Capital L P now owns 16,449 shares of the company’s stock worth $2,954,000 after acquiring an additional 10,018 shares during the last quarter. Institutional investors and hedge funds own 97.84% 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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