Analysts Set WellCare Health Plans, Inc. (WCG) Target Price at $309.14

Shares of WellCare Health Plans, Inc. (NYSE:WCG) have earned a consensus recommendation of “Buy” from the sixteen research firms that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $309.14.

A number of equities analysts recently issued reports on the company. Argus lifted their target price on WellCare Health Plans from $265.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Cantor Fitzgerald lifted their price target on WellCare Health Plans from $292.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, September 17th. BMO Capital Markets set a $345.00 price target on WellCare Health Plans and gave the company a “buy” rating in a report on Friday, September 14th. Wells Fargo & Co reiterated a “buy” rating on shares of WellCare Health Plans in a report on Wednesday, September 26th. Finally, Evercore ISI started coverage on WellCare Health Plans in a report on Tuesday, October 9th. They set an “outperform” rating and a $365.00 price target on the stock.

In related news, EVP Yount Michael sold 500 shares of WellCare Health Plans stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $263.38, for a total transaction of $131,690.00. Following the completion of the sale, the executive vice president now owns 7,044 shares of the company’s stock, valued at $1,855,248.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard C. Breon sold 2,500 shares of WellCare Health Plans stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $239.96, for a total value of $599,900.00. Following the sale, the director now directly owns 6,406 shares of the company’s stock, valued at approximately $1,537,183.76. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Private Capital Group LLC lifted its position in shares of WellCare Health Plans by 234.0% in the third quarter. Private Capital Group LLC now owns 334 shares of the company’s stock worth $107,000 after buying an additional 234 shares during the last quarter. Financial Gravity Wealth Inc. lifted its position in shares of WellCare Health Plans by 3,977.8% in the third quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock worth $107,000 after buying an additional 358 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of WellCare Health Plans by 100.0% in the third quarter. Chicago Partners Investment Group LLC now owns 400 shares of the company’s stock worth $117,000 after buying an additional 200 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of WellCare Health Plans by 55.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock worth $126,000 after buying an additional 182 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new stake in shares of WellCare Health Plans in the third quarter worth about $173,000. 88.63% of the stock is owned by institutional investors.

Shares of NYSE WCG traded up $6.06 during mid-day trading on Monday, reaching $254.88. The company had a trading volume of 4,145,741 shares, compared to its average volume of 1,014,291. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 1.39 and a beta of 1.23. WellCare Health Plans has a 1-year low of $187.06 and a 1-year high of $324.99.

WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.09 by $0.24. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.06 billion. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.08 EPS. As a group, analysts anticipate that WellCare Health Plans will post 11.01 earnings per share for the current year.

About WellCare Health Plans

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.

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Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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