Evercore ISI started coverage on shares of WellCare Health Plans (NYSE:WCG) in a research report sent to investors on Tuesday, MarketBeat reports. The firm issued an outperform rating and a $365.00 price target on the stock.
WCG has been the topic of a number of other research reports. Barclays reiterated a buy rating and issued a $325.00 target price on shares of WellCare Health Plans in a research report on Tuesday, September 18th. JPMorgan Chase & Co. upgraded shares of WellCare Health Plans from a neutral rating to an overweight rating and lifted their target price for the stock from $223.00 to $287.00 in a research report on Wednesday, June 27th. Zacks Investment Research upgraded shares of WellCare Health Plans from a hold rating to a strong-buy rating and set a $295.00 target price on the stock in a research report on Thursday, July 26th. Argus lifted their target price on shares of WellCare Health Plans from $265.00 to $360.00 and gave the stock a buy rating in a research report on Friday, August 31st. Finally, SunTrust Banks lifted their target price on shares of WellCare Health Plans to $315.00 and gave the stock a buy rating in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $296.00.
Shares of NYSE:WCG opened at $307.77 on Tuesday. The firm has a market capitalization of $14.35 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02. WellCare Health Plans has a 52 week low of $162.25 and a 52 week high of $324.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.27.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, July 31st. The company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.03 by $0.66. The company had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.65 billion. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.52 EPS. As a group, equities analysts forecast that WellCare Health Plans will post 10.85 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd increased its position in shares of WellCare Health Plans by 55.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock valued at $126,000 after acquiring an additional 182 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of WellCare Health Plans by 98.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock valued at $108,000 after acquiring an additional 279 shares during the period. Cerebellum GP LLC purchased a new position in shares of WellCare Health Plans in the third quarter valued at about $191,000. Jaffetilchin Investment Partners LLC purchased a new position in shares of WellCare Health Plans in the third quarter valued at about $202,000. Finally, Courier Capital LLC purchased a new position in shares of WellCare Health Plans in the third quarter valued at about $246,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.
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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