WellCare Health Plans, Inc. (WCG) Receives Consensus Recommendation of “Buy” from Analysts

Shares of WellCare Health Plans, Inc. (NYSE:WCG) have been given an average recommendation of “Buy” by the nineteen analysts that are presently covering the company, MarketBeat reports. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $210.07.

Several research firms have commented on WCG. Goldman Sachs Group began coverage on shares of WellCare Health Plans in a research report on Wednesday. They set a “buy” rating and a $255.00 target price on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $235.00 target price on shares of WellCare Health Plans in a research report on Monday, December 18th. Bank of America lifted their target price on shares of WellCare Health Plans from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. Deutsche Bank lifted their target price on shares of WellCare Health Plans to $240.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Finally, Morgan Stanley lifted their target price on shares of WellCare Health Plans from $184.00 to $212.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd.

In other news, Director Carol Burt sold 997 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total transaction of $201,593.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.47% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new position in WellCare Health Plans in the 3rd quarter valued at approximately $103,000. Advisory Services Network LLC grew its stake in WellCare Health Plans by 8.4% in the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock valued at $155,000 after buying an additional 67 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in WellCare Health Plans by 29.3% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock valued at $237,000 after buying an additional 299 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in WellCare Health Plans by 12.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,661 shares of the company’s stock valued at $298,000 after buying an additional 184 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in WellCare Health Plans in the 2nd quarter valued at approximately $307,000. Institutional investors own 99.74% of the company’s stock.

WellCare Health Plans (NYSE WCG) opened at $206.51 on Friday. WellCare Health Plans has a 1 year low of $136.23 and a 1 year high of $213.97. The firm has a market cap of $9,210.00, a PE ratio of 25.91, a P/E/G ratio of 1.54 and a beta of 0.82. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $2.18. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The business had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter last year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. equities analysts expect that WellCare Health Plans will post 8.38 earnings per share for the current year.

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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.

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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