WellCare Health Plans, Inc. (NYSE:WCG) had its target price hoisted by Morgan Stanley from $183.00 to $184.00 in a research report sent to investors on Monday. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also weighed in on WCG. Jefferies Group LLC restated a hold rating and set a $142.00 target price on shares of WellCare Health Plans in a report on Wednesday, April 19th. Leerink Swann reiterated an outperform rating and issued a $225.00 price objective (up previously from $185.00) on shares of WellCare Health Plans in a report on Thursday, June 22nd. Deutsche Bank AG boosted their price objective 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 boosted their price objective 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. Finally, Zacks Investment Research lowered shares of WellCare Health Plans from a buy rating to a hold rating in a report on Monday, July 17th. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $170.09.

WellCare Health Plans (WCG) opened at 174.03 on Monday. The company has a 50-day moving average price of $180.02 and a 200 day moving average price of $159.17. WellCare Health Plans has a 12-month low of $109.74 and a 12-month high of $184.88. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 28.63 and a beta of 0.84.

WellCare Health Plans (NYSE:WCG) last posted its earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.29. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.23 EPS. On average, equities research analysts predict that WellCare Health Plans will post $6.92 EPS for the current year.

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In other news, CFO Andrew Lynn Asher sold 7,314 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $175.04, for a total value of $1,280,242.56. Following the completion of the sale, the chief financial officer now owns 13,244 shares of the company’s stock, valued at approximately $2,318,229.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Troy Meyer sold 600 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $171.86, for a total transaction of $103,116.00. Following the completion of the sale, the vice president now directly owns 73 shares of the company’s stock, valued at approximately $12,545.78. The disclosure for this sale can be found here. Insiders sold a total of 12,914 shares of company stock valued at $2,255,369 in the last three months. Insiders own 0.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in WellCare Health Plans by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock valued at $621,956,000 after buying an additional 231,890 shares during the last quarter. BlackRock Inc. increased its stake in WellCare Health Plans by 7,347.7% in the first quarter. BlackRock Inc. now owns 4,195,120 shares of the company’s stock valued at $588,199,000 after buying an additional 4,138,792 shares during the last quarter. AQR Capital Management LLC increased its stake in WellCare Health Plans by 18.8% in the first quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock valued at $296,455,000 after buying an additional 334,095 shares during the last quarter. Acadian Asset Management LLC increased its stake in WellCare Health Plans by 1.8% in the second quarter. Acadian Asset Management LLC now owns 1,544,686 shares of the company’s stock valued at $277,365,000 after buying an additional 27,855 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in WellCare Health Plans by 157.2% in the first quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock valued at $86,692,000 after buying an additional 377,900 shares during the last quarter. 98.71% of the stock is owned by institutional investors.

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.

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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