WellCare Health Plans, Inc. (WCG) Given New $215.00 Price Target at Bank of America Corporation
WellCare Health Plans, Inc. (NYSE:WCG) had its price target hoisted by Bank of America Corporation from $210.00 to $215.00 in a research note issued to investors on Friday. The firm currently has a neutral rating on the stock.
Other equities research analysts have also issued reports about the stock. Mitsubishi UFJ Financial Group assumed coverage on shares of WellCare Health Plans in a report on Thursday, September 21st. They set an overweight rating and a $204.00 target price on the stock. BidaskClub lowered shares of WellCare Health Plans from a strong-buy rating to a buy rating in a report on Friday, July 28th. Piper Jaffray Companies reiterated a buy rating and set a $214.00 target price on shares of WellCare Health Plans in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of WellCare Health Plans from a hold rating to a buy rating and set a $221.00 target price on the stock in a report on Thursday, November 2nd. Finally, Wells Fargo & Company reiterated a market perform rating and set a $188.00 target price (up from $175.00) on shares of WellCare Health Plans in a report on Wednesday, November 1st. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $200.20.
Shares of WellCare Health Plans (NYSE:WCG) opened at $199.27 on Friday. The stock has a market cap of $8,815.27, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 1.53 and a beta of 0.81. WellCare Health Plans has a fifty-two week low of $129.10 and a fifty-two week high of $208.89. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51.
WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $2.18. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.37 billion. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 EPS. equities analysts predict that WellCare Health Plans will post 8.45 earnings per share for the current year.
In related news, CEO Kenneth A. Burdick sold 8,500 shares of WellCare Health Plans stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the sale, the chief executive officer now directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carol Burt sold 997 shares of WellCare Health Plans stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total transaction of $201,593.40. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in WCG. Fuller & Thaler Asset Management Inc. acquired a new stake in WellCare Health Plans during the 3rd quarter worth $103,000. State of Alaska Department of Revenue acquired a new stake in WellCare Health Plans during the 2nd quarter worth $121,000. Advisory Services Network LLC grew its position in WellCare Health Plans by 8.4% during the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after purchasing an additional 67 shares during the last quarter. Eagle Global Advisors LLC purchased a new position in WellCare Health Plans during the 2nd quarter worth $211,000. Finally, Harvest Fund Management Co. Ltd grew its position in WellCare Health Plans by 29.3% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock worth $237,000 after purchasing an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 97.41% of the company’s stock.
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.
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