ValuEngine upgraded shares of WellCare Health Plans, Inc. (NYSE:WCG) from a hold rating to a buy rating in a report published on Friday.

A number of other equities research analysts have also recently commented on WCG. Morgan Stanley upped their target price on shares of WellCare Health Plans from $183.00 to $184.00 and gave the company an equal weight rating in a report on Monday, August 7th. Zacks Investment Research raised shares of WellCare Health Plans from a hold rating to a buy rating and set a $193.00 target price for the company in a report on Friday, August 11th. Cantor Fitzgerald reaffirmed a buy rating and issued a $195.00 target price on shares of WellCare Health Plans in a report on Saturday, August 26th. BidaskClub cut shares of WellCare Health Plans from a strong-buy rating to a buy rating in a report on Friday, July 28th. Finally, Jefferies Group LLC reissued a hold rating and set a $170.00 price target on shares of WellCare Health Plans in a report on Thursday, June 8th. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. WellCare Health Plans currently has a consensus rating of Hold and an average price target of $173.92.

Shares of WellCare Health Plans (NYSE:WCG) opened at 175.45 on Friday. The firm’s 50-day moving average price is $176.01 and its 200 day moving average price is $163.44. The firm has a market capitalization of $7.81 billion, a P/E ratio of 30.82 and a beta of 0.88. WellCare Health Plans has a 12 month low of $109.74 and a 12 month high of $184.88.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.29. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the prior year, the company earned $2.23 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. Analysts anticipate that WellCare Health Plans will post $6.99 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/09/04/wellcare-health-plans-inc-wcg-upgraded-at-valuengine.html.

In other WellCare Health Plans news, CFO Andrew Lynn Asher sold 7,314 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $175.04, for a total transaction of $1,280,242.56. Following the transaction, the chief financial officer now directly owns 13,244 shares in the company, valued at $2,318,229.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the transaction, the director now owns 5,722 shares in the company, valued at $984,012.34. The disclosure for this sale can be found here. Insiders have sold 20,688 shares of company stock worth $3,592,329 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. OppenheimerFunds Inc. grew its position in WellCare Health Plans by 13.4% during the first quarter. OppenheimerFunds Inc. now owns 392,226 shares of the company’s stock worth $54,994,000 after buying an additional 46,415 shares during the period. Massachusetts Financial Services Co. MA grew its position in WellCare Health Plans by 29.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 67,549 shares of the company’s stock worth $9,473,000 after buying an additional 15,299 shares during the period. Swiss National Bank grew its position in WellCare Health Plans by 0.5% during the first quarter. Swiss National Bank now owns 73,200 shares of the company’s stock worth $10,263,000 after buying an additional 400 shares during the period. Globeflex Capital L P grew its position in WellCare Health Plans by 36.6% during the first quarter. Globeflex Capital L P now owns 6,431 shares of the company’s stock worth $902,000 after buying an additional 1,723 shares during the period. Finally, Capstone Asset Management Co. grew its position in WellCare Health Plans by 9.1% during the second quarter. Capstone Asset Management Co. now owns 7,009 shares of the company’s stock worth $1,259,000 after buying an additional 587 shares during the period. Institutional investors own 97.81% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

Receive News & Stock Ratings for WellCare Health Plans Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans Inc. and related stocks with our FREE daily email newsletter.