WellCare Health Plans, Inc. (WCG) Price Target Raised to $212.00 at Morgan Stanley
WellCare Health Plans, Inc. (NYSE:WCG) had its target price upped by Morgan Stanley from $184.00 to $212.00 in a research report released on Thursday morning. Morgan Stanley currently has an equal weight rating on the stock.
Several other brokerages have also issued reports on WCG. BMO Capital Markets initiated coverage on WellCare Health Plans in a research note on Monday, October 16th. They issued an outperform rating and a $215.00 price target on the stock. Cantor Fitzgerald reiterated a buy rating and issued a $195.00 price target on shares of WellCare Health Plans in a research note on Saturday, August 26th. Cowen and Company initiated coverage on WellCare Health Plans in a research note on Monday, October 9th. They issued an outperform rating and a $200.00 price target on the stock. ValuEngine lowered WellCare Health Plans from a buy rating to a hold rating in a research note on Monday, October 2nd. Finally, Bank of America Corporation lifted their price target on WellCare Health Plans from $185.00 to $189.00 and gave the company a neutral rating in a research note on Friday, July 14th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $190.25.
WellCare Health Plans (NYSE WCG) traded up $5.57 during trading on Thursday, reaching $206.50. The company’s stock had a trading volume of 351,526 shares, compared to its average volume of 434,518. The company has a current ratio of 1.28, a quick ratio of 1.31 and a debt-to-equity ratio of 0.51. The stock has a market cap of $8,945.72, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.58 and a beta of 0.81.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $2.18. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the company earned $1.63 EPS. The company’s revenue was up 22.8% on a year-over-year basis. equities analysts anticipate that WellCare Health Plans will post 8.27 earnings per share for the current year.
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In related news, CEO Kenneth A. Burdick sold 8,500 shares of the firm’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 sale, the chief executive officer now owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total value of $1,440,076.78. Following the sale, the director now directly owns 5,722 shares in the company, valued at approximately $984,012.34. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WCG. Legal & General Group Plc lifted its holdings in WellCare Health Plans by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 58,653 shares of the company’s stock worth $10,528,000 after buying an additional 4,893 shares during the period. Artemis Investment Management LLP acquired a new position in WellCare Health Plans during the 2nd quarter worth about $7,486,000. State of Tennessee Treasury Department lifted its holdings in WellCare Health Plans by 25.0% during the 2nd quarter. State of Tennessee Treasury Department now owns 50,000 shares of the company’s stock worth $8,978,000 after buying an additional 10,000 shares during the period. Pacer Advisors Inc. lifted its holdings in WellCare Health Plans by 3.2% during the 2nd quarter. Pacer Advisors Inc. now owns 6,372 shares of the company’s stock worth $1,144,000 after buying an additional 195 shares during the period. Finally, Globeflex Capital L P lifted its holdings in WellCare Health Plans by 155.8% during the 2nd quarter. Globeflex Capital L P now owns 16,449 shares of the company’s stock worth $2,954,000 after buying an additional 10,018 shares during the period. 98.40% of the stock is currently owned by institutional investors.
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.
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