WellCare Health Plans Inc. (NYSE:WCG) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Thursday. They presently have a $115.00 target price on the stock. JPMorgan Chase & Co.’s price target would suggest a potential downside of 4.84% from the company’s previous close.

Other analysts have also issued research reports about the company. Morgan Stanley reaffirmed a “sell” rating and set a $80.00 price objective on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Jefferies Group upped their price objective on WellCare Health Plans to $105.00 in a research report on Wednesday, August 3rd. Credit Suisse Group AG reaffirmed a “sell” rating and set a $100.00 price objective on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Wedbush reaffirmed a “neutral” rating and set a $119.00 price objective (down previously from $126.00) on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Finally, Leerink Swann reaffirmed a “buy” rating on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. WellCare Health Plans presently has an average rating of “Hold” and an average price target of $103.11.

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

Shares of WellCare Health Plans (NYSE:WCG) opened at 120.85 on Thursday. The firm’s 50-day moving average price is $117.71 and its 200-day moving average price is $109.15. The firm has a market cap of $5.35 billion, a PE ratio of 25.59 and a beta of 0.93. WellCare Health Plans has a 12 month low of $69.16 and a 12 month high of $129.36.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Tuesday, November 1st. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.52. WellCare Health Plans had a return on equity of 13.48% and a net margin of 1.47%. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. Analysts expect that WellCare Health Plans will post $5.43 earnings per share for the current year.

In other WellCare Health Plans news, Director Glenn Md Phd Steele, Jr. sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $114.86, for a total transaction of $1,148,600.00. Following the transaction, the director now owns 10,852 shares of the company’s stock, valued at $1,246,460.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.50% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of WellCare Health Plans during the third quarter valued at $104,000. MSI Financial Services Inc increased its stake in shares of WellCare Health Plans by 40.4% in the third quarter. MSI Financial Services Inc now owns 1,143 shares of the company’s stock valued at $134,000 after buying an additional 329 shares during the period. BlackRock Japan Co. Ltd increased its stake in shares of WellCare Health Plans by 95.8% in the third quarter. BlackRock Japan Co. Ltd now owns 1,400 shares of the company’s stock valued at $164,000 after buying an additional 685 shares during the period. Advisors Asset Management Inc. increased its stake in shares of 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. Finally, Marietta Investment Partners LLC acquired a new stake in shares of WellCare Health Plans during the third quarter valued at $210,000.

WellCare Health Plans Company Profile

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.

5 Day Chart for NYSE:WCG

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