WellCare Health Plans Inc. (WCG) Stock Rating Reaffirmed by Leerink Swann
WellCare Health Plans Inc. (NYSE:WCG)‘s stock had its “buy” rating reaffirmed by analysts at Leerink Swann in a research note issued to investors on Thursday.
A number of other equities analysts have also weighed in on WCG. Morgan Stanley reiterated a “sell” rating and set a $80.00 target price on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Jefferies Group increased their target price on shares of WellCare Health Plans to $105.00 in a research report on Wednesday, August 3rd. Credit Suisse Group AG reiterated a “sell” rating and set a $100.00 target price on shares of WellCare Health Plans in a research report on Tuesday, September 13th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $115.00 price target on shares of WellCare Health Plans in a report on Wednesday, August 3rd. Finally, Wedbush reissued a “neutral” rating and issued a $119.00 price target (down from $126.00) on shares of WellCare Health Plans in a report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $101.30.
Shares of WellCare Health Plans (NYSE:WCG) traded up 0.78% during midday trading on Thursday, hitting $118.32. 195,516 shares of the company traded hands. WellCare Health Plans has a 52 week low of $69.16 and a 52 week high of $118.43. The stock has a market capitalization of $5.24 billion, a PE ratio of 29.57 and a beta of 1.20. The stock has a 50 day moving average of $114.17 and a 200-day moving average of $104.41.
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WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, August 2nd. The company reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.83. The firm earned $3.59 billion during the quarter, compared to analyst estimates of $3.53 billion. WellCare Health Plans had a net margin of 1.26% and a return on equity of 12.33%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the business earned $1.34 earnings per share. Equities analysts forecast that WellCare Health Plans will post $5.02 earnings per share for the current fiscal year.
In other WellCare Health Plans 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 transaction, the director now directly owns 10,852 shares in the company, valued at $1,246,460.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of WCG. Lazard Asset Management LLC acquired a new position in shares of WellCare Health Plans during the first quarter worth approximately $2,422,000. State Street Corp boosted its position in shares of WellCare Health Plans by 2.4% in the first quarter. State Street Corp now owns 1,470,369 shares of the company’s stock valued at $136,373,000 after buying an additional 34,157 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of WellCare Health Plans during the first quarter valued at about $3,209,000. Spark Investment Management LLC purchased a new position in shares of WellCare Health Plans during the first quarter valued at about $1,010,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of WellCare Health Plans during the first quarter valued at about $965,000.
About WellCare Health Plans
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.
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