WellCare Health Plans, Inc. (NYSE:WCG) had its target price raised by Deutsche Bank AG to $240.00 in a research report released on Monday morning. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently weighed in on the company. Bank of America Corporation upped their target price on WellCare Health Plans from $210.00 to $215.00 and gave the company a neutral rating in a research report on Friday, November 17th. Morgan Stanley upped their target price on WellCare Health Plans from $184.00 to $212.00 and gave the company an equal weight rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded WellCare Health Plans from a hold rating to a buy rating and set a $221.00 target price for the company in a research report on Thursday, November 2nd. Jefferies Group LLC upped their target price on WellCare Health Plans from $190.00 to $210.00 and gave the company a hold rating in a research report on Wednesday, November 1st. Finally, Wells Fargo & Company reiterated a market perform rating and set a $188.00 target price (up from $175.00) on shares of WellCare Health Plans in a research report on Wednesday, November 1st. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $200.20.

Shares of WellCare Health Plans (WCG) opened at $201.37 on Monday. The firm has a market capitalization of $8,965.31, a price-to-earnings ratio of 21.79, a PEG ratio of 1.55 and a beta of 0.81. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. WellCare Health Plans has a 1 year low of $131.97 and a 1 year high of $208.89.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $2.18. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.37 billion. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The company’s revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. sell-side analysts anticipate that WellCare Health Plans will post 8.44 earnings per share for the current year.

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In related news, 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 sale, the chief executive officer now directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Carol Burt sold 997 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors bought a new position in WellCare Health Plans in the second quarter valued at about $170,042,000. American Century Companies Inc. raised its position in WellCare Health Plans by 712.9% in the second quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock valued at $66,717,000 after purchasing an additional 325,853 shares during the last quarter. Renaissance Technologies LLC raised its position in WellCare Health Plans by 37.7% in the second quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock valued at $152,858,000 after purchasing an additional 232,993 shares during the last quarter. Janus Henderson Group PLC bought a new position in WellCare Health Plans in the second quarter valued at about $30,078,000. Finally, FMR LLC raised its position in WellCare Health Plans by 285.7% in the second quarter. FMR LLC now owns 211,664 shares of the company’s stock valued at $38,007,000 after purchasing an additional 156,786 shares during the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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