WellCare Health Plans (NYSE:WCG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “WellCare Health’s shares have outperformed the industry in a year’s time. The company’s healthy balance sheet continues to support its operational excellence. The company has also been witnessing revenue growth over the last six years. Following the strong 2017 results, the company raised its guidance for 2018. The company has seen the Zacks Consensus Estimate for 2018 earnings being revised upward in the past 60 days. However, its rising level of debt hurts the bottom line. Continuous increase in the total expenses also weighs on the margins.”
WCG has been the subject of a number of other reports. Goldman Sachs Group started coverage on shares of WellCare Health Plans in a report on Wednesday, January 3rd. They issued a “buy” rating and a $255.00 target price for the company. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Cowen reaffirmed an “outperform” rating and issued a $250.00 target price on shares of WellCare Health Plans in a report on Tuesday, January 23rd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $235.00 target price on shares of WellCare Health Plans in a report on Monday, December 18th. Finally, Bank of America increased their target price on shares of WellCare Health Plans from $210.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, November 17th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $217.86.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.11. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.32 billion. WellCare Health Plans had a net margin of 2.20% and a return on equity of 17.10%. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.03 earnings per share. equities research analysts predict that WellCare Health Plans will post 9.79 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of WCG. Fuller & Thaler Asset Management Inc. purchased a new position in shares of WellCare Health Plans during the 3rd quarter worth approximately $103,000. Bessemer Group Inc. increased its stake in shares of WellCare Health Plans by 593.2% during the 4th quarter. Bessemer Group Inc. now owns 818 shares of the company’s stock worth $165,000 after purchasing an additional 700 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of WellCare Health Plans during the 4th quarter worth approximately $202,000. Gotham Asset Management LLC purchased a new position in shares of WellCare Health Plans during the 4th quarter worth approximately $202,000. Finally, Matisse Capital purchased a new position in shares of WellCare Health Plans during the 4th quarter worth approximately $205,000. 98.26% 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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