WellCare Health Plans Downgraded by Zacks (WCG)
WellCare Health Plans (NYSE:WCG) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Monday. They currently have a $60.20 price target on the stock. Zacks‘s price target points to a potential downside of 3.18% from the company’s current price.
A number of other firms have also recently commented on WCG. Analysts at Wedbush downgraded shares of WellCare Health Plans from an “outperform” rating to a “neutral” rating in a research note on Monday. They now have a $55.00 price target on the stock, down previously from $70.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of WellCare Health Plans in a research note on Wednesday, July 30th. They now have a $72.00 price target on the stock, down previously from $85.00. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of WellCare Health Plans in a research note on Wednesday, July 30th. They now have a $73.00 price target on the stock, down previously from $78.00. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $69.55.
Shares of WellCare Health Plans (NYSE:WCG) traded up 0.50% on Monday, hitting $62.49. The stock had a trading volume of 352,392 shares. WellCare Health Plans has a one year low of $55.16 and a one year high of $78.37. The stock’s 50-day moving average is $68.94 and its 200-day moving average is $67.96. The company has a market cap of $2.742 billion and a P/E ratio of 19.14. WellCare Health Plans also was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,831,856 shares, an increase of 66.9% from the July 15th total of 1,097,702 shares. Based on an average daily trading volume, of 1,404,017 shares, the short-interest ratio is presently 1.3 days. Currently, 4.2% of the company’s shares are sold short.
WellCare Health Plans (NYSE:WCG) last announced its earnings results on Friday, July 25th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.90 by $0.97. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the company posted $1.35 earnings per share. Analysts expect that WellCare Health Plans will post $2.15 EPS for the current fiscal year.
WellCare Health Plans, Inc (NYSE:WCG) is a provider of managed care services to government-sponsored health care programs, focusing on Medicaid and Medicare.
To view Zacks’ full report, visit Zacks’ official website.
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