Analysts at Goldman Sachs Group assumed coverage on shares of WellCare Health Plans (NYSE:WCG) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.
A number of other analysts have also weighed in on the stock. ValuEngine lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Cantor Fitzgerald reissued a “buy” rating and issued a $235.00 price objective on shares of WellCare Health Plans in a research report on Monday, December 18th. Deutsche Bank increased their price objective on shares of WellCare Health Plans to $240.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Bank of America raised their target price on shares of WellCare Health Plans from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. Finally, Morgan Stanley raised their target price on shares of WellCare Health Plans from $184.00 to $212.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $202.87.
Shares of WellCare Health Plans (NYSE:WCG) opened at $202.55 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28. WellCare Health Plans has a 1 year low of $133.21 and a 1 year high of $213.97. The firm has a market cap of $8,953.73, a PE ratio of 25.41, a P/E/G ratio of 1.53 and a beta of 0.82.
In other news, Director Carol Burt sold 997 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total transaction of $201,593.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.47% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of WellCare Health Plans during the third quarter valued at approximately $103,000. Advisory Services Network LLC bought a new position in shares of WellCare Health Plans during the third quarter valued at approximately $104,000. Creative Planning boosted its stake in shares of WellCare Health Plans by 3.0% during the first quarter. Creative Planning now owns 862 shares of the company’s stock valued at $121,000 after purchasing an additional 25 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of WellCare Health Plans during the second quarter valued at approximately $121,000. Finally, Focused Wealth Management Inc acquired a new stake in WellCare Health Plans in the fourth quarter valued at approximately $123,000. Hedge funds and other institutional investors own 99.74% of the company’s stock.
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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.
