BidaskClub downgraded shares of WellCare Health Plans, Inc. (NYSE:WCG) from a strong-buy rating to a buy rating in a research note published on Friday.

Several other analysts also recently weighed in on the stock. Deutsche Bank AG initiated coverage on shares of WellCare Health Plans in a report on Wednesday, April 5th. They issued a buy rating and a $168.00 target price for the company. Wolfe Research reiterated a market perform rating on shares of WellCare Health Plans in a report on Friday, May 5th. Jefferies Group LLC lifted their target price on shares of WellCare Health Plans from $142.00 to $170.00 and gave the company a hold rating in a report on Thursday, May 4th. Leerink Swann reiterated an outperform rating and issued a $225.00 target price (up previously from $185.00) on shares of WellCare Health Plans in a report on Thursday, June 22nd. Finally, Morgan Stanley initiated coverage on shares of WellCare Health Plans in a report on Tuesday, June 6th. They issued an equal weight rating and a $183.00 target price for the company. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $165.75.

WellCare Health Plans (NYSE:WCG) opened at 176.99 on Friday. WellCare Health Plans has a 52 week low of $105.16 and a 52 week high of $184.88. The company has a 50-day moving average price of $179.87 and a 200 day moving average price of $158.94. The company has a market cap of $7.87 billion, a PE ratio of 29.12 and a beta of 0.85.

WellCare Health Plans (NYSE:WCG) last posted its earnings results on Wednesday, May 3rd. The company reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.42. WellCare Health Plans had a net margin of 1.85% and a return on equity of 14.75%. The firm had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the firm earned $1.06 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that WellCare Health Plans will post $6.86 EPS for the current fiscal year.

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In other WellCare Health Plans news, EVP Kelly A. Munson sold 3,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $173.71, for a total value of $521,130.00. Following the completion of the transaction, the executive vice president now owns 4,243 shares in the company, valued at $737,051.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Yount Michael sold 2,500 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the transaction, the senior vice president now owns 4,804 shares of the company’s stock, valued at approximately $800,202.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,019 shares of company stock valued at $4,133,066. Insiders own 0.50% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. OppenheimerFunds Inc. increased its position in shares of WellCare Health Plans by 13.4% in 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 last quarter. Massachusetts Financial Services Co. MA increased its position in shares of WellCare Health Plans by 29.3% in 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 last quarter. First Citizens Bank & Trust Co. increased its position in shares of WellCare Health Plans by 62.5% in the first quarter. First Citizens Bank & Trust Co. now owns 2,483 shares of the company’s stock worth $348,000 after buying an additional 955 shares during the last quarter. Swiss National Bank increased its position in shares of WellCare Health Plans by 0.5% in 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 last quarter. Finally, Parametrica Management Ltd increased its position in shares of WellCare Health Plans by 23.3% in the first quarter. Parametrica Management Ltd now owns 2,096 shares of the company’s stock worth $294,000 after buying an additional 396 shares during the last quarter. Institutional investors and hedge funds own 98.74% 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.

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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