WellCare Health Plans’ (WCG) Buy Rating Reaffirmed at Leerink Swann
WCG has been the subject of a number of other reports. Credit Suisse Group AG reaffirmed a sell rating and set a $100.00 price target on shares of WellCare Health Plans in a research note on Tuesday, August 30th. Jefferies Group reaffirmed a hold rating and set a $105.00 price target (up from $101.00) on shares of WellCare Health Plans in a research note on Monday, August 1st. Wedbush reaffirmed a neutral rating and set a $108.00 price target on shares of WellCare Health Plans in a research note on Monday, June 20th. Morgan Stanley reaffirmed a sell rating and set a $80.00 price target on shares of WellCare Health Plans in a research note on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and set a $115.00 price target on shares of WellCare Health Plans in a research note on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $101.30.
WellCare Health Plans (NYSE:WCG) traded up 0.78% during trading on Thursday, reaching $118.31. 199,513 shares of the company were exchanged. The company’s 50-day moving average price is $114.17 and its 200-day moving average price is $104.41. WellCare Health Plans has a 1-year low of $69.16 and a 1-year high of $118.43. The stock has a market capitalization of $5.24 billion, a P/E ratio of 29.56 and a beta of 1.20.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.83. WellCare Health Plans had a net margin of 1.26% and a return on equity of 12.33%. The business earned $3.59 billion during the quarter, compared to analysts’ expectations of $3.53 billion. During the same period last year, the company posted $1.34 EPS. The business’s revenue was up 3.2% on a year-over-year basis. On average, equities analysts forecast that WellCare Health Plans will post $5.02 EPS for the current year.
In other news, Director Glenn Md Phd Steele, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $114.86, for a total value of $1,148,600.00. Following the completion of the sale, the director now owns 10,852 shares in the company, valued at approximately $1,246,460.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in WellCare Health Plans by 27.4% in the second quarter. Advisors Asset Management Inc. now owns 1,529 shares of the company’s stock valued at $164,000 after buying an additional 329 shares during the period. Trexquant Investment LP bought a new stake in WellCare Health Plans during the second quarter valued at $219,000. MAI Capital Management bought a new stake in WellCare Health Plans during the second quarter valued at $223,000. Tower Research Capital LLC TRC bought a new stake in WellCare Health Plans during the second quarter valued at $230,000. Finally, First Citizens Bank & Trust Co. bought a new stake in WellCare Health Plans during the second quarter valued at $235,000.
About WellCare Health Plans
WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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