Wellcare Health Plans Given Positive Rating at Susquehanna (WCG)
Wellcare Health Plans (NYSE:WCG)‘s stock had its “positive” rating reaffirmed by equities research analysts at Susquehanna in a research note issued to investors on Wednesday, American Banking & Market News reports. They currently have a $83.00 price objective on the stock, up from their previous price objective of $75.00. Susquehanna’s price objective would suggest a potential upside of 16.74% from the stock’s previous close.
The analysts wrote, “We expect the managed care group will post solid third quarter results beginning when UNH kicks of earnings on October 17. The earnings period will matter for the group as Humana will offer specific EPS guidance for 2014 and others, particularly UNH, are likely to offer at least some preliminary expectations for next year.”
Wellcare Health Plans (NYSE:WCG) traded up 1.05% during mid-day trading on Wednesday, hitting $71.85. The stock had a trading volume of 52,621 shares. Wellcare Health Plans has a 52-week low of $44.75 and a 52-week high of $73.42. The stock’s 50-day moving average is $67.95 and its 200-day moving average is $60.3. The company has a market cap of $3.129 billion and a price-to-earnings ratio of 20.02.
Wellcare Health Plans (NYSE:WCG) last released its earnings data on Wednesday, August 7th. The company reported $1.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.01 by $1.34. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 28.8% on a year-over-year basis. On average, analysts predict that Wellcare Health Plans will post $4.90 earnings per share for the current fiscal year.
A number of other firms have also recently commented on WCG. Analysts at Jefferies Group raised their price target on shares of Wellcare Health Plans to $72.00 in a research note to investors on Monday, September 16th. They now have a “hold” rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Wellcare Health Plans from $64.00 to $74.00 in a research note to investors on Thursday, August 8th. They now have an “equal weight” rating on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $72.71.
WellCare Health Plans, Inc (NYSE:WCG) provides managed care services to government-sponsored health care programs.
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