WellCare Health Plans (WCG) Receives New Coverage from Analysts at Stephens

Stephens initiated coverage on shares of WellCare Health Plans (NYSE:WCG) in a research note issued to investors on Monday, The Fly reports. The brokerage set an “overweight” rating on the stock.

A number of other research analysts have also recently commented on the company. Barclays reiterated a “buy” rating and issued a $325.00 price target on shares of WellCare Health Plans in a research note on Tuesday, September 18th. Wells Fargo & Co reaffirmed a “buy” rating on shares of WellCare Health Plans in a research report on Wednesday, September 26th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $330.00 target price on shares of WellCare Health Plans in a research report on Tuesday, October 30th. Wolfe Research raised WellCare Health Plans from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 3rd. Finally, Evercore ISI started coverage on WellCare Health Plans in a research report on Tuesday, October 9th. They set an “outperform” rating and a $365.00 target price for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. WellCare Health Plans has an average rating of “Buy” and a consensus price target of $305.64.

Shares of WCG opened at $247.42 on Monday. WellCare Health Plans has a 52 week low of $187.06 and a 52 week high of $324.99. The firm has a market capitalization of $12.21 billion, a PE ratio of 29.04, a PEG ratio of 1.07 and a beta of 1.18. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.32.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, October 30th. The company reported $3.33 EPS for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.24. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the prior year, the company earned $4.08 EPS. WellCare Health Plans’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts expect that WellCare Health Plans will post 10.98 EPS for the current year.

In related news, EVP Yount Michael sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $263.38, for a total value of $131,690.00. Following the transaction, the executive vice president now owns 7,044 shares of the company’s stock, valued at approximately $1,855,248.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard C. Breon sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $239.96, for a total transaction of $599,900.00. Following the completion of the transaction, the director now directly owns 6,406 shares in the company, valued at approximately $1,537,183.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,647 shares of company stock valued at $1,924,167. 0.59% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its stake in shares of WellCare Health Plans by 3.0% during the third quarter. Rhumbline Advisers now owns 101,936 shares of the company’s stock valued at $32,669,000 after acquiring an additional 2,976 shares during the last quarter. Schroder Investment Management Group increased its position in shares of WellCare Health Plans by 1,399.6% during the third quarter. Schroder Investment Management Group now owns 87,245 shares of the company’s stock valued at $27,961,000 after buying an additional 81,427 shares during the period. Alpine Global Management LLC purchased a new position in shares of WellCare Health Plans during the third quarter valued at about $2,142,000. Picton Mahoney Asset Management increased its position in shares of WellCare Health Plans by 65.5% during the third quarter. Picton Mahoney Asset Management now owns 11,585 shares of the company’s stock valued at $3,713,000 after buying an additional 4,585 shares during the period. Finally, Janus Henderson Group PLC increased its position in shares of WellCare Health Plans by 38.9% during the third quarter. Janus Henderson Group PLC now owns 107,970 shares of the company’s stock valued at $34,603,000 after buying an additional 30,260 shares during the period. Institutional investors own 98.30% of the company’s stock.

WellCare Health Plans Company Profile

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.

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The Fly

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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