WellCare Health Plans, Inc. (NYSE:WCG) had its target price lifted by equities research analysts at Morgan Stanley from $184.00 to $212.00 in a report released on Thursday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 7.21% from the stock’s previous close.

WCG has been the topic of several other reports. Zacks Investment Research downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Wells Fargo & Company reiterated a “market perform” rating and issued a $188.00 target price (up from $175.00) on shares of WellCare Health Plans in a research note on Wednesday. BMO Capital Markets assumed coverage on WellCare Health Plans in a research note on Monday, October 16th. They issued an “outperform” rating and a $215.00 target price for the company. Deutsche Bank AG upped their target price on WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Finally, Bank of America Corporation upped their price target on WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a research note on Friday, July 14th. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $190.25.

WellCare Health Plans (NYSE:WCG) last posted its earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $2.18. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.37 billion. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. WellCare Health Plans’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 earnings per share.

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In other news, CEO Kenneth A. Burdick sold 8,500 shares of WellCare Health Plans stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $174.24, for a total value of $1,481,040.00. Following the transaction, the chief executive officer now directly owns 23,627 shares in the company, valued at $4,116,768.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the business’s stock in a transaction dated 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 owns 5,722 shares in the company, valued at $984,012.34. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of WCG. State of Alaska Department of Revenue acquired a new stake in WellCare Health Plans during the second quarter valued at approximately $121,000. Advisory Services Network LLC boosted its holdings in shares of WellCare Health Plans by 8.4% in the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after acquiring an additional 67 shares in the last quarter. Eagle Global Advisors LLC acquired a new position in shares of WellCare Health Plans in the 2nd quarter worth approximately $211,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of WellCare Health Plans by 29.3% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock worth $237,000 after acquiring an additional 299 shares in the last quarter. Finally, Ronald Blue & Co. LLC acquired a new position in shares of WellCare Health Plans in the 2nd quarter worth approximately $240,000. Hedge funds and other institutional investors own 98.40% of the company’s stock.

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.

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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