Stock analysts at BMO Capital Markets started coverage on shares of WellCare Health Plans, Inc. (NYSE:WCG) in a research note issued to investors on Monday. The firm set an “outperform” rating and a $215.00 price target on the stock. BMO Capital Markets’ price target indicates a potential upside of 23.54% from the company’s previous close.
A number of other equities analysts have also weighed in on WCG. Deutsche Bank AG lifted their price objective on WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. BidaskClub lowered WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. ValuEngine upgraded WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cantor Fitzgerald reiterated a “buy” rating and set a $195.00 price objective on shares of WellCare Health Plans in a research note on Saturday, August 26th. Finally, Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price objective for the company in a research note on Friday, August 11th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $181.73.
Shares of WellCare Health Plans (WCG) opened at 174.03 on Monday. The firm’s 50-day moving average price is $171.32 and its 200 day moving average price is $170.12. WellCare Health Plans has a 12-month low of $113.34 and a 12-month high of $184.88. The company has a market cap of $7.75 billion, a price-to-earnings ratio of 30.57 and a beta of 0.88.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.29. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the business posted $2.23 EPS. On average, analysts predict that WellCare Health Plans will post $7.01 earnings per share for the current year.
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In related news, CEO Kenneth A. Burdick sold 8,500 shares of WellCare Health Plans stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the transaction, the chief executive officer now owns 23,627 shares in the company, valued at approximately $4,116,768.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $171.97, for a total value of $1,440,076.78. Following the completion of the transaction, the director now owns 5,722 shares of the company’s stock, valued at approximately $984,012.34. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new stake in WellCare Health Plans in the 2nd quarter worth about $121,000. Advisory Services Network LLC boosted its holdings in WellCare Health Plans by 8.4% in the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after buying an additional 67 shares during the last quarter. Eagle Global Advisors LLC acquired a new stake in WellCare Health Plans in the 2nd quarter worth about $211,000. Harvest Fund Management Co. Ltd boosted its holdings in WellCare Health Plans by 29.3% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock worth $237,000 after buying an additional 299 shares during the last quarter. Finally, Ronald Blue & Co. LLC acquired a new stake in WellCare Health Plans in the 2nd quarter worth about $240,000. Institutional investors own 97.68% of the company’s stock.
WellCare Health Plans Company Profile
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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