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Research analysts at Sterne Agee started coverage on shares of WellCare Health Plans (NYSE:WCG) in a report released on Friday, TheFlyOnTheWall.com reports. The firm set an “underperform” rating and a $76.00 price target on the stock. Sterne Agee’s price target would suggest a potential upside of 0.86% from the company’s current price.

The analysts wrote, “We believe there is a certain element of acquisition expectations embedded in WellCare shares and are concerned that peers present more accretive potential targets. We see less potential for EPS upside in ’14 and ’15 than peers as premium growth continues to outpace reserve growth despite three quarters in a row of unfavorable prior period reserve development.”

Shares of WellCare Health Plans (NYSE:WCG) traded down 0.98% on Friday, hitting $74.61. The stock had a trading volume of 133,572 shares. WellCare Health Plans has a 1-year low of $54.90 and a 1-year high of $78.37. The stock’s 50-day moving average is $75.37 and its 200-day moving average is $68.08. The company has a market cap of $3.273 billion and a price-to-earnings ratio of 16.79.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, May 6th. The company reported $1.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.04 by $1.09. During the same quarter last year, the company posted $0.63 earnings per share. On average, analysts predict that WellCare Health Plans will post $4.26 earnings per share for the current fiscal year.

WCG has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of WellCare Health Plans from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 10th. They now have a $80.90 price target on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of WellCare Health Plans in a research note on Thursday, May 8th. They now have a $77.00 price target on the stock, up previously from $61.00. Finally, analysts at Citigroup Inc. reiterated an “equal weight” rating on shares of WellCare Health Plans in a research note on Wednesday, May 7th. They now have a $72.00 price target on the stock, up previously from $63.00. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $72.64.

WellCare Health Plans, Inc (NYSE:WCG) is a provider of managed care services to government-sponsored health care programs, focusing on Medicaid and Medicare.

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