WellCare Health Plans (NYSE:WCG) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

A number of other brokerages have also recently issued reports on WCG. Cantor Fitzgerald reaffirmed a “buy” rating and set a $330.00 target price on shares of WellCare Health Plans in a research report on Tuesday, October 30th. Evercore ISI began coverage on WellCare Health Plans in a research report on Tuesday, October 9th. They set an “outperform” rating and a $365.00 target price for the company. Barclays reaffirmed a “buy” rating and set a $338.00 target price on shares of WellCare Health Plans in a research report on Friday, September 28th. Wells Fargo & Co reaffirmed a “buy” rating on shares of WellCare Health Plans in a research report on Wednesday, September 26th. Finally, BMO Capital Markets set a $345.00 target price on WellCare Health Plans and gave the stock a “buy” rating in a research report on Friday, September 14th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $301.13.

NYSE:WCG opened at $238.23 on Tuesday. WellCare Health Plans has a 52 week low of $187.06 and a 52 week high of $324.99. The company has a market capitalization of $12.53 billion, a P/E ratio of 27.96, a PEG ratio of 1.39 and a beta of 1.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.32 and a current ratio of 1.32.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.24. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter in the prior year, the company posted $4.08 earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis. On average, sell-side analysts anticipate that WellCare Health Plans will post 11.01 EPS for the current year.

In other news, EVP Yount Michael sold 500 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was 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 directly owns 7,044 shares of the company’s stock, valued at $1,855,248.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.59% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Paradigm Asset Management Co. LLC bought a new stake in shares of WellCare Health Plans in the third quarter valued at approximately $176,000. NorthCoast Asset Management LLC bought a new stake in shares of WellCare Health Plans in the third quarter valued at approximately $1,285,000. Nordea Investment Management AB bought a new stake in shares of WellCare Health Plans in the third quarter valued at approximately $173,000. Neuberger Berman Group LLC boosted its position in shares of WellCare Health Plans by 585.1% in the third quarter. Neuberger Berman Group LLC now owns 63,736 shares of the company’s stock valued at $20,427,000 after acquiring an additional 54,433 shares during the period. Finally, Alpine Global Management LLC bought a new stake in shares of WellCare Health Plans in the third quarter valued at approximately $2,142,000. 88.63% of the stock is owned by institutional investors.

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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Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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