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WellCare Health Plans (NYSE:WCG) was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.

WellCare Health Plans (NYSE:WCG) opened at 62.18 on Monday. 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 $2.729 billion and a price-to-earnings ratio of 19.21. WellCare Health Plans also was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 1,831,856 shares, a growth of 66.9% from the July 15th total of 1,097,702 shares. Based on an average trading volume of 1,404,017 shares, the short-interest ratio is currently 1.3 days. Approximately 4.2% of the shares of the company are short sold.

WellCare Health Plans (NYSE:WCG) last posted its quarterly 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. On average, analysts predict that WellCare Health Plans will post $2.15 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of WellCare Health Plans in a research note on Monday, July 28th. They now have a $55.00 price target on the stock, down previously from $69.00. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $72.06.

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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