Several other research analysts have also recently issued reports on WCG. BidaskClub cut WellCare Health Plans from a strong-buy rating to a buy rating in a report on Friday, July 28th. Morgan Stanley upped their price target on 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 on the stock in a research note on Friday, August 11th. Cantor Fitzgerald reissued a buy rating and set a $195.00 target price on shares of WellCare Health Plans in a research note on Saturday, August 26th. Finally, ValuEngine raised shares of WellCare Health Plans from a hold rating to a buy rating in a research note on Friday, September 1st. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $200.20.
WellCare Health Plans (NYSE WCG) opened at $199.27 on Monday. The stock has a market capitalization of $8,870.00, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 1.53 and a beta of 0.81. WellCare Health Plans has a twelve month low of $129.10 and a twelve month high of $208.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28.
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In other news, Director Carol Burt sold 997 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the completion of the transaction, the chief executive officer now directly owns 23,627 shares in the company, valued at $4,116,768.48. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
Large investors have recently modified their holdings of the stock. Legal & General Group Plc boosted its holdings in WellCare Health Plans by 9.1% in the second quarter. Legal & General Group Plc now owns 58,653 shares of the company’s stock worth $10,528,000 after purchasing an additional 4,893 shares in the last quarter. Artemis Investment Management LLP bought a new stake in WellCare Health Plans in the second quarter worth $7,486,000. State of Tennessee Treasury Department boosted its holdings in WellCare Health Plans by 25.0% in the second quarter. State of Tennessee Treasury Department now owns 50,000 shares of the company’s stock worth $8,978,000 after purchasing an additional 10,000 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in WellCare Health Plans by 3.2% in the second quarter. Pacer Advisors Inc. now owns 6,372 shares of the company’s stock worth $1,144,000 after purchasing an additional 195 shares in the last quarter. Finally, Globeflex Capital L P boosted its holdings in WellCare Health Plans by 155.8% in the second quarter. Globeflex Capital L P now owns 16,449 shares of the company’s stock worth $2,954,000 after purchasing an additional 10,018 shares in the last quarter. Hedge funds and other institutional investors own 97.41% of the company’s stock.
About WellCare Health Plans
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.
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