WellCare Health Plans, Inc. (NYSE:WCG) – Equities researchers at Cantor Fitzgerald boosted their FY2017 earnings per share (EPS) estimates for WellCare Health Plans in a report issued on Wednesday. Cantor Fitzgerald analyst S. Halper now forecasts that the company will post earnings per share of $8.35 for the year, up from their previous forecast of $6.85. Cantor Fitzgerald currently has a “Buy” rating and a $195.00 price target on the stock.
A number of other research analysts have also recently commented on WCG. Credit Suisse Group reissued a “neutral” rating and issued a $163.00 target price (up previously from $155.00) on shares of WellCare Health Plans in a report on Thursday, July 13th. Deutsche Bank AG increased their target price on shares of WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Bank of America Corporation increased their target price on shares of WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a report on Friday, July 14th. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, BidaskClub cut shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $190.25.
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WellCare Health Plans (NYSE WCG) opened at $206.50 on Monday. The firm has a market capitalization of $9,193.79, a P/E ratio of 22.35, a PEG ratio of 1.63 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 announced its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $2.18. The firm had revenue of $4.40 billion for 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 business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share.
Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its holdings 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 purchasing an additional 4,893 shares during the last quarter. Artemis Investment Management LLP bought a new position in WellCare Health Plans during the 2nd quarter worth approximately $7,486,000. State of Tennessee Treasury Department raised its holdings 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 purchasing an additional 10,000 shares during the last quarter. Pacer Advisors Inc. raised its holdings 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 purchasing an additional 195 shares during the last quarter. Finally, Globeflex Capital L P raised its holdings 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 purchasing an additional 10,018 shares during the last quarter. Hedge funds and other institutional investors own 98.40% of the company’s stock.
In other WellCare Health Plans news, CEO Kenneth A. Burdick sold 8,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 23,627 shares in the company, valued at approximately $4,116,768.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the transaction, the director now owns 5,722 shares of the company’s stock, valued at approximately $984,012.34. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.
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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