WellCare Health Plans Inc. (WCG) Sees Unusually-High Trading Volume
Shares of WellCare Health Plans Inc. (NYSE:WCG) saw unusually-strong trading volume on Friday . Approximately 586,397 shares changed hands during trading, an increase of 12% from the previous session’s volume of 521,519 shares.The stock last traded at $115.60 and had previously closed at $115.52.
A number of analysts recently issued reports on WCG shares. Jefferies Group reiterated a “hold” rating and set a $105.00 price objective (up from $101.00) on shares of WellCare Health Plans in a research note on Monday, August 1st. Cantor Fitzgerald restated a “hold” rating and set a $90.00 target price (up from $85.00) on shares of WellCare Health Plans in a research report on Friday, June 24th. Wedbush restated a “neutral” rating and set a $108.00 target price on shares of WellCare Health Plans in a research report on Monday, June 20th. Credit Suisse Group AG restated a “sell” rating and set a $85.00 target price on shares of WellCare Health Plans in a research report on Sunday, July 10th. Finally, Leerink Swann boosted their target price on WellCare Health Plans from $105.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, May 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. WellCare Health Plans currently has a consensus rating of “Hold” and an average target price of $99.82.
The firm’s 50 day moving average is $110.05 and its 200 day moving average is $97.75. The company has a market capitalization of $5.14 billion and a P/E ratio of 29.00.
WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, August 2nd. The company reported $2.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.83. The company earned $3.59 billion during the quarter, compared to the consensus estimate of $3.53 billion. WellCare Health Plans’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.34 earnings per share. On average, equities analysts predict that WellCare Health Plans Inc. will post $5.04 earnings per share for the current fiscal year.
In other WellCare Health Plans news, Director Glenn Md Phd Steele, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $114.86, for a total transaction of $1,148,600.00. Following the sale, the director now directly owns 10,852 shares of the company’s stock, valued at $1,246,460.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kevin F. Hickey sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $105.56, for a total value of $105,560.00. Following the sale, the director now directly owns 14,730 shares in the company, valued at $1,554,898.80. The disclosure for this sale can be found here.
A number of large investors have bought and sold shares of WCG. Schwab Charles Investment Management Inc. boosted its stake in WellCare Health Plans by 3.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 216,624 shares of the company’s stock worth $16,943,000 after buying an additional 8,089 shares in the last quarter. BlackRock Advisors LLC boosted its stake in WellCare Health Plans by 11.6% in the fourth quarter. BlackRock Advisors LLC now owns 204,658 shares of the company’s stock worth $16,007,000 after buying an additional 21,296 shares in the last quarter. Matarin Capital Management LLC acquired a new stake in WellCare Health Plans during the fourth quarter worth approximately $5,107,000. Principal Financial Group Inc. boosted its stake in WellCare Health Plans by 3.3% in the fourth quarter. Principal Financial Group Inc. now owns 145,871 shares of the company’s stock worth $11,409,000 after buying an additional 4,669 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in WellCare Health Plans by 4.9% in the fourth quarter. Bank of Montreal Can now owns 147,627 shares of the company’s stock worth $11,546,000 after buying an additional 6,834 shares in the last quarter.
WellCare Health Plans, Inc (WellCare) is a managed care company for government-sponsored health care coverage with a focus on Medicaid and Medicare programs. The Company offers a range of managed care health plans for families, children, and the aged, blind and disabled, as well as prescription drug plans.
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