WellCare Health Plans (WCG) Earns Overweight Rating from Analysts at Stephens

Stock analysts at Stephens began coverage on shares of WellCare Health Plans (NYSE:WCG) in a research report issued to clients and investors on Monday, The Fly reports. The firm set an “overweight” rating on the stock.

Several other analysts also recently commented on WCG. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, December 13th. Barclays reaffirmed a “buy” rating and set a $338.00 price objective on shares of WellCare Health Plans in a research report on Friday, September 28th. ValuEngine downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Cantor Fitzgerald raised their price objective on shares of WellCare Health Plans from $292.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, September 17th. Finally, Evercore ISI assumed coverage on shares of WellCare Health Plans in a research report on Tuesday, October 9th. They set an “outperform” rating and a $365.00 price objective for the company. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. WellCare Health Plans currently has a consensus rating of “Buy” and an average price target of $305.64.

NYSE:WCG opened at $247.42 on Monday. The company has a market cap of $12.21 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 1.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.32. WellCare Health Plans has a fifty-two week low of $187.06 and a fifty-two week high of $324.99.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.09 by $0.24. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.06 billion. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.08 EPS. On average, sell-side analysts expect that WellCare Health Plans will post 10.98 EPS for the current year.

In related news, EVP Yount Michael sold 500 shares of WellCare Health Plans stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $263.38, for a total value 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 approximately $1,855,248.72. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $599,900.00. Following the completion of 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. In the last three months, insiders sold 7,647 shares of company stock valued at $1,924,167. 0.59% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue lifted its stake in WellCare Health Plans by 6.7% during the 4th quarter. State of Alaska Department of Revenue now owns 12,254 shares of the company’s stock valued at $2,891,000 after acquiring an additional 774 shares in the last quarter. Retirement Systems of Alabama lifted its stake in WellCare Health Plans by 63.1% during the 4th quarter. Retirement Systems of Alabama now owns 130,568 shares of the company’s stock valued at $30,826,000 after acquiring an additional 50,531 shares in the last quarter. Copper Rock Capital Partners LLC lifted its stake in WellCare Health Plans by 59.9% during the 4th quarter. Copper Rock Capital Partners LLC now owns 61,388 shares of the company’s stock valued at $14,238,000 after acquiring an additional 23,005 shares in the last quarter. Gulf International Bank UK Ltd bought a new position in WellCare Health Plans during the 4th quarter valued at $2,883,000. Finally, CENTRAL TRUST Co lifted its stake in WellCare Health Plans by 13.0% during the 4th quarter. CENTRAL TRUST Co now owns 3,361 shares of the company’s stock valued at $793,000 after acquiring an additional 386 shares in the last quarter. 98.30% of the stock is owned by institutional investors and hedge funds.

WellCare Health Plans Company Profile

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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The Fly

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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