WellCare Health Plans (NYSE:WCG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Saturday.

According to Zacks, “WellCare Health’s shares have outperformed the industry in a year’s time. Its robust inorganic growth is impressive. The company’s healthy balance sheet continues to support its operational excellence. Wellcare Health has also been witnessing revenue growth over the last six years. Following the strong third-quarter  results, the company raised its guidance for 2017. However, its rising level of debt hurts the bottom line. Continuous increase in the total expenses also weighs on the margins.”

Several other equities analysts have also commented on the company. Goldman Sachs Group assumed coverage on WellCare Health Plans in a research report on Wednesday. They set a “buy” rating and a $255.00 price objective for the company. ValuEngine lowered 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 set a $235.00 price objective on shares of WellCare Health Plans in a research report on Monday, December 18th. Deutsche Bank raised their price objective on WellCare Health Plans to $240.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Finally, Bank of America lifted their price target on WellCare Health Plans from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $210.07.

Shares of WellCare Health Plans (WCG) traded up $4.80 during trading on Friday, reaching $211.32. The company’s stock had a trading volume of 262,167 shares, compared to its average volume of 347,011. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $9,410.00, a price-to-earnings ratio of 26.51, a P/E/G ratio of 1.57 and a beta of 0.82. WellCare Health Plans has a fifty-two week low of $136.23 and a fifty-two week high of $213.97.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, beating the consensus estimate of $1.90 by $2.18. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.37 billion. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 earnings per share. equities analysts expect that WellCare Health Plans will post 8.38 EPS for the current year.

In other news, Director Carol Burt sold 997 shares of WellCare Health Plans stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in WellCare Health Plans by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock worth $621,956,000 after buying an additional 231,890 shares during the last quarter. BlackRock Inc. raised its position in WellCare Health Plans by 1.6% in the 2nd quarter. BlackRock Inc. now owns 4,260,559 shares of the company’s stock worth $765,026,000 after buying an additional 65,439 shares during the last quarter. Wellington Management Group LLP raised its position in WellCare Health Plans by 3.4% in the 1st quarter. Wellington Management Group LLP now owns 4,100,432 shares of the company’s stock worth $380,314,000 after buying an additional 135,931 shares during the last quarter. AQR Capital Management LLC raised its position in WellCare Health Plans by 18.8% in the 1st quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock worth $296,455,000 after buying an additional 334,095 shares during the last quarter. Finally, Capital World Investors raised its position in WellCare Health Plans by 24.6% in the 4th quarter. Capital World Investors now owns 2,025,000 shares of the company’s stock worth $158,375,000 after buying an additional 400,000 shares during the last quarter. 99.74% of the stock is owned by institutional investors and hedge funds.

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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.

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Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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