WellCare Health Plans (NYSE:WCG) had its price target boosted by Morgan Stanley from $330.00 to $350.00 in a report released on Wednesday, September 12th. The firm currently has an equal weight rating on the stock.
Other equities analysts also recently issued research reports about the company. Bank of America increased their price objective on WellCare Health Plans from $260.00 to $270.00 and gave the stock a buy rating in a report on Tuesday, July 24th. SunTrust Banks initiated coverage on WellCare Health Plans in a report on Monday, June 11th. They issued a buy rating and a $270.00 price objective for the company. Argus assumed coverage on WellCare Health Plans in a report on Thursday, June 7th. They issued a buy rating and a $265.00 price objective for the company. ValuEngine upgraded WellCare Health Plans from a hold rating to a buy rating in a report on Tuesday, June 5th. Finally, Wells Fargo & Co restated a buy rating on shares of WellCare Health Plans in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $291.69.
NYSE WCG traded up $5.39 on Wednesday, reaching $315.44. 604,046 shares of the company’s stock traded hands, compared to its average volume of 479,694. WellCare Health Plans has a 12 month low of $162.25 and a 12 month high of $324.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market capitalization of $14.35 billion, a P/E ratio of 37.02, a PEG ratio of 1.92 and a beta of 1.02.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.03 by $0.66. WellCare Health Plans had a return on equity of 19.20% and a net margin of 2.69%. The company had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm posted $2.52 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that WellCare Health Plans will post 10.85 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its position in shares of WellCare Health Plans by 6.5% during the 1st quarter. BlackRock Inc. now owns 4,551,672 shares of the company’s stock valued at $881,340,000 after purchasing an additional 279,764 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of WellCare Health Plans by 3.6% in the 2nd quarter. Acadian Asset Management LLC now owns 1,652,077 shares of the company’s stock worth $406,808,000 after buying an additional 56,649 shares during the period. American Century Companies Inc. lifted its stake in shares of WellCare Health Plans by 28.8% during the 2nd quarter. American Century Companies Inc. now owns 1,337,459 shares of the company’s stock worth $329,336,000 after purchasing an additional 299,273 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of WellCare Health Plans by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,077,020 shares of the company’s stock worth $265,204,000 after purchasing an additional 21,813 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of WellCare Health Plans by 52.2% during the 1st quarter. Millennium Management LLC now owns 603,298 shares of the company’s stock worth $116,817,000 after purchasing an additional 206,969 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.
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.
Read More: The Discount Rate – What You Need to Know
Receive News & Ratings for WellCare Health Plans Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans and related companies with MarketBeat.com's FREE daily email newsletter.