WellCare Health Plans’ (WCG) Buy Rating Reaffirmed at Leerink Swann
Other research analysts have also issued research reports about the stock. Jefferies Group raised their price objective on shares of WellCare Health Plans to $105.00 in a research note on Wednesday, August 3rd. Cantor Fitzgerald reaffirmed a hold rating and issued a $90.00 target price (up previously from $85.00) on shares of WellCare Health Plans in a report on Friday, June 24th. Credit Suisse Group AG reaffirmed a sell rating and issued a $100.00 target price on shares of WellCare Health Plans in a report on Tuesday, September 13th. Wedbush reaffirmed a neutral rating and issued a $119.00 target price (down previously from $126.00) on shares of WellCare Health Plans in a report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and issued a $115.00 target price on shares of WellCare Health Plans in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. WellCare Health Plans currently has an average rating of Hold and an average target price of $101.30.
WellCare Health Plans (NYSE:WCG) traded up 0.78% during mid-day trading on Thursday, reaching $118.31. 199,513 shares of the company’s stock traded hands. WellCare Health Plans has a 52 week low of $69.16 and a 52 week high of $118.43. The stock has a market capitalization of $5.24 billion, a PE ratio of 29.56 and a beta of 1.20. The stock’s 50 day moving average is $114.17 and its 200-day moving average is $104.41.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $2.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.83. WellCare Health Plans had a net margin of 1.26% and a return on equity of 12.33%. The business earned $3.59 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same quarter last year, the firm posted $1.34 earnings per share. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that WellCare Health Plans will post $5.02 EPS for the current year.
In other news, Director Glenn Md Phd Steele, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $114.86, for a total transaction of $1,148,600.00. Following the transaction, the director now directly owns 10,852 shares in the company, valued at $1,246,460.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in shares of WellCare Health Plans during the first quarter worth about $2,422,000. State Street Corp raised its position in shares of WellCare Health Plans by 2.4% in the first quarter. State Street Corp now owns 1,470,369 shares of the company’s stock worth $136,373,000 after buying an additional 34,157 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of WellCare Health Plans during the first quarter worth about $3,209,000. Spark Investment Management LLC acquired a new position in shares of WellCare Health Plans during the first quarter worth about $1,010,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of WellCare Health Plans during the first quarter worth about $965,000.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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