WellCare Health Plans, Inc. (NYSE:WCG) had its price target hoisted by Bank of America Corporation from $185.00 to $189.00 in a research report released on Friday, July 14th. Bank of America Corporation currently has a neutral rating on the stock.
A number of other equities analysts have also commented on the company. Deutsche Bank AG initiated coverage on WellCare Health Plans in a research note on Wednesday, April 5th. They set a buy rating and a $168.00 price target for the company. Wolfe Research reaffirmed a market perform rating on shares of WellCare Health Plans in a research note on Friday, May 5th. Jefferies Group LLC raised their price objective on WellCare Health Plans from $142.00 to $170.00 and gave the company a hold rating in a research note on Thursday, May 4th. Leerink Swann reaffirmed an outperform rating and issued a $225.00 price objective (up from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Finally, Morgan Stanley assumed coverage on WellCare Health Plans in a report on Tuesday, June 6th. They issued an equal weight rating and a $183.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $170.00.
Shares of WellCare Health Plans (WCG) traded down 5.10% during trading on Friday, reaching $173.21. 646,320 shares of the company were exchanged. The company has a market capitalization of $7.71 billion, a PE ratio of 28.50 and a beta of 0.84. WellCare Health Plans has a one year low of $109.74 and a one year high of $184.88. The firm’s 50 day moving average price is $180.02 and its 200 day moving average price is $159.17.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.75% and a net margin of 1.85%. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.23 billion. During the same period in the prior year, the company earned $2.23 earnings per share. The firm’s revenue was up 19.8% on a year-over-year basis. Equities research analysts forecast that WellCare Health Plans will post $6.86 earnings per share for the current fiscal year.
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In related news, VP Michael Troy Meyer sold 600 shares of WellCare Health Plans stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $171.86, for a total value of $103,116.00. Following the completion of the transaction, the vice president now owns 73 shares in the company, valued at approximately $12,545.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew Lynn Asher sold 7,314 shares of WellCare Health Plans 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 transaction, the chief financial officer now owns 13,244 shares of the company’s stock, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. Insiders have sold a total of 15,519 shares of company stock valued at $2,698,621 in the last quarter. Company insiders own 0.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Advisory Services Network LLC bought a new position in shares of WellCare Health Plans during the first quarter valued at $112,000. Creative Planning boosted its position in shares of WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock valued at $121,000 after buying an additional 25 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of WellCare Health Plans during the second quarter valued at $121,000. Eagle Global Advisors LLC bought a new position in shares of WellCare Health Plans during the second quarter valued at $211,000. Finally, Neuberger Berman Group LLC boosted its position in shares of WellCare Health Plans by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after buying an additional 16 shares in the last quarter. Institutional investors own 98.74% 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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