WellCare Health Plans, Inc. (WCG) Receives Average Recommendation of “Hold” from Brokerages
Shares of WellCare Health Plans, Inc. (NYSE:WCG) have been given an average recommendation of “Hold” by the nineteen brokerages that are currently covering the firm, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $186.00.
A number of brokerages have commented on WCG. Jefferies Group LLC lifted their price target on WellCare Health Plans from $189.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, October 13th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $163.00 price target (up from $155.00) on shares of WellCare Health Plans in a research note on Thursday, July 13th. BidaskClub cut WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Mitsubishi UFJ Financial Group began coverage on WellCare Health Plans in a research note on Thursday, September 21st. They issued an “overweight” rating and a $204.00 price target on the stock. Finally, Zacks Investment Research cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday, July 17th.
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Shares of WellCare Health Plans (NYSE:WCG) opened at 180.52 on Friday. The firm has a market cap of $8.03 billion, a P/E ratio of 31.71 and a beta of 0.88. The firm’s 50-day moving average is $172.01 and its 200-day moving average is $170.94. WellCare Health Plans has a 52-week low of $113.34 and a 52-week high of $184.88.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.29. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.23 billion. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.23 EPS. Analysts anticipate that WellCare Health Plans will post $7.01 earnings per share for the current year.
In other news, CEO Kenneth A. Burdick sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the transaction, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total value of $1,440,076.78. Following the transaction, the director now directly owns 5,722 shares in the company, valued at $984,012.34. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of WCG. Capital Research Global Investors purchased a new stake in WellCare Health Plans in the second quarter worth $170,042,000. American Century Companies Inc. grew 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 worth $66,717,000 after purchasing an additional 325,853 shares during the period. Renaissance Technologies LLC grew its stake in WellCare Health Plans by 37.7% in the second quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock worth $152,858,000 after purchasing an additional 232,993 shares during the period. Janus Henderson Group PLC purchased a new stake in WellCare Health Plans in the second quarter worth $30,078,000. Finally, FMR LLC grew its stake in WellCare Health Plans by 285.7% in the second quarter. FMR LLC now owns 211,664 shares of the company’s stock worth $38,007,000 after purchasing an additional 156,786 shares during the period. 97.68% of the stock is currently owned by institutional investors.
About WellCare Health Plans
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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