Analysts at Stephens initiated coverage on shares of WellCare Health Plans (NYSE:WCG) in a research report issued on Monday, The Fly reports. The brokerage set an “overweight” rating on the stock.
Several other research firms have also issued reports on WCG. Barclays reaffirmed a “buy” rating and set a $338.00 price target on shares of WellCare Health Plans in a research report on Friday, September 28th. Evercore ISI assumed coverage on shares of WellCare Health Plans in a research report on Tuesday, October 9th. They set an “outperform” rating and a $365.00 price target on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of WellCare Health Plans in a research report on Wednesday, September 26th. Cantor Fitzgerald upped their price objective on shares of WellCare Health Plans from $292.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, September 17th. Finally, Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $271.00 price objective on the stock in a report on Wednesday, December 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. WellCare Health Plans currently has an average rating of “Buy” and an average target price of $305.64.
NYSE WCG opened at $247.42 on Monday. 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 has a 1 year low of $187.06 and a 1 year high of $324.99. The firm has a market cap of $12.21 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 1.07 and a beta of 1.18.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.24. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the firm posted $4.08 earnings per share. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities research analysts anticipate that WellCare Health Plans will post 10.98 EPS for the current year.
In related news, EVP Yount Michael sold 500 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $263.38, for a total value of $131,690.00. Following the transaction, the executive vice president now directly owns 7,044 shares in the company, valued at $1,855,248.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Robert Polen sold 3,000 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $256.85, for a total transaction of $770,550.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,647 shares of company stock worth $1,924,167. Corporate insiders own 0.59% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in WellCare Health Plans by 3.0% during the third quarter. Rhumbline Advisers now owns 101,936 shares of the company’s stock worth $32,669,000 after purchasing an additional 2,976 shares during the period. Schroder Investment Management Group lifted its position in WellCare Health Plans by 1,399.6% during the third quarter. Schroder Investment Management Group now owns 87,245 shares of the company’s stock worth $27,961,000 after purchasing an additional 81,427 shares during the period. Alpine Global Management LLC bought a new stake in WellCare Health Plans during the third quarter worth about $2,142,000. Picton Mahoney Asset Management lifted its position in WellCare Health Plans by 65.5% during the third quarter. Picton Mahoney Asset Management now owns 11,585 shares of the company’s stock worth $3,713,000 after purchasing an additional 4,585 shares during the period. Finally, Janus Henderson Group PLC lifted its position in WellCare Health Plans by 38.9% during the third quarter. Janus Henderson Group PLC now owns 107,970 shares of the company’s stock worth $34,603,000 after purchasing an additional 30,260 shares during the period. Institutional investors and hedge funds own 98.30% 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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