WellCare Health Plans, Inc. (WCG) Given Average Rating of “Hold” by Brokerages
Shares of WellCare Health Plans, Inc. (NYSE:WCG) have earned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $176.00.
WCG has been the topic of a number of research analyst reports. Wolfe Research reissued a “market perform” rating on shares of WellCare Health Plans in a report on Friday, May 5th. Jefferies Group LLC upped their price target on shares of WellCare Health Plans from $142.00 to $170.00 and gave the company a “hold” rating in a report on Thursday, May 4th. Leerink Swann reaffirmed an “outperform” rating and issued a $225.00 price target (up previously from $185.00) on shares of WellCare Health Plans in a report on Thursday, June 22nd. Deutsche Bank AG upped their price target on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Finally, Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th.
WellCare Health Plans (NYSE WCG) opened at 173.12 on Tuesday. WellCare Health Plans has a 52-week low of $109.74 and a 52-week high of $184.88. The company’s 50 day moving average is $180.02 and its 200 day moving average is $159.17. The firm has a market cap of $7.70 billion, a P/E ratio of 28.48 and a beta of 0.84.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.29. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.23 earnings per share. Equities research analysts forecast that WellCare Health Plans will post $6.92 EPS for the current fiscal year.
In other news, EVP Kelly A. Munson sold 3,000 shares of the stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $173.71, for a total value of $521,130.00. Following the completion of the sale, the executive vice president now owns 4,243 shares of the company’s stock, valued at $737,051.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew Lynn Asher sold 7,314 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $175.04, for a total transaction of $1,280,242.56. Following the completion of the sale, the chief financial officer now directly owns 13,244 shares of the company’s stock, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. Insiders sold 12,914 shares of company stock valued at $2,255,369 in the last three months. Company insiders own 0.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its stake in WellCare Health Plans by 0.4% in the second quarter. Prudential Financial Inc. now owns 414,804 shares of the company’s stock valued at $74,483,000 after buying an additional 1,538 shares during the last quarter. Great Lakes Advisors LLC raised its stake in WellCare Health Plans by 20.1% in the second quarter. Great Lakes Advisors LLC now owns 58,527 shares of the company’s stock valued at $10,509,000 after buying an additional 9,783 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in WellCare Health Plans during the second quarter valued at about $287,000. American Century Companies Inc. raised its stake in WellCare Health Plans by 712.9% in the second quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock valued at $66,717,000 after buying an additional 325,853 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in WellCare Health Plans by 0.9% in the second quarter. Victory Capital Management Inc. now owns 445,310 shares of the company’s stock valued at $79,960,000 after buying an additional 4,012 shares during the last quarter. 98.71% of the stock is owned by institutional investors.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc is a managed care company. The Company focuses 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 medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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