WellCare Health Plans Inc. (WCG) Rating Reiterated by Leerink Swann
WellCare Health Plans Inc. (NYSE:WCG)‘s stock had its “buy” rating reiterated by Leerink Swann in a report issued on Thursday.
A number of other brokerages also recently weighed in on WCG. Credit Suisse Group AG reaffirmed a “sell” rating and set a $100.00 price objective on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Morgan Stanley reaffirmed a “sell” rating and set a $80.00 price objective on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $115.00 price objective on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Wedbush reaffirmed a “neutral” rating and set a $108.00 price objective on shares of WellCare Health Plans in a research report on Monday, June 20th. Finally, Jefferies Group boosted their price objective on shares of WellCare Health Plans to $105.00 in a research report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $101.30.
WellCare Health Plans (NYSE:WCG) traded up 0.79% during midday trading on Thursday, hitting $118.33. 258,213 shares of the stock were exchanged. The firm’s 50-day moving average is $114.17 and its 200 day moving average is $104.41. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 29.57 and a beta of 1.20. WellCare Health Plans has a 52 week low of $69.16 and a 52 week high of $118.54.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/wellcare-health-plans-inc-wcg-rating-reiterated-by-leerink-swann.html
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.83. WellCare Health Plans had a net margin of 1.26% and a return on equity of 12.33%. The business earned $3.59 billion during the quarter, compared to the consensus estimate of $3.53 billion. During the same quarter in the prior year, the firm earned $1.34 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts expect that WellCare Health Plans will post $5.02 EPS for the current fiscal year.
In related news, Director Glenn Md Phd Steele, Jr. sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $114.86, for a total transaction of $1,148,600.00. Following the completion of the sale, the director now directly owns 10,852 shares of the company’s stock, valued at $1,246,460.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in WCG. Advisory Services Network LLC acquired a new stake in WellCare Health Plans during the third quarter valued at approximately $104,000. Advisors Asset Management Inc. raised its stake in WellCare Health Plans by 27.4% in the second quarter. Advisors Asset Management Inc. now owns 1,529 shares of the company’s stock valued at $164,000 after buying an additional 329 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in WellCare Health Plans during the first quarter valued at approximately $214,000. Trexquant Investment LP acquired a new stake in WellCare Health Plans during the second quarter valued at approximately $219,000. Finally, MAI Capital Management acquired a new stake in WellCare Health Plans during the second quarter valued at approximately $223,000.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
Receive News & Ratings for WellCare Health Plans Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans Inc. and related companies with MarketBeat.com's FREE daily email newsletter.