WellCare Health Plans, Inc. (WCG) Rating Reiterated by Cantor Fitzgerald
Cantor Fitzgerald restated their buy rating on shares of WellCare Health Plans, Inc. (NYSE:WCG) in a research note published on Saturday morning. Cantor Fitzgerald currently has a $195.00 target price on the stock.
A number of other analysts have also recently weighed in on the company. Zacks Investment Research raised WellCare Health Plans from a hold rating to a buy rating and set a $193.00 price target for the company in a research report on Friday, August 11th. Morgan Stanley boosted their price target on WellCare Health Plans from $183.00 to $184.00 and gave the stock an equal weight rating in a research report on Monday, August 7th. BidaskClub cut WellCare Health Plans from a strong-buy rating to a buy rating in a research report on Friday, July 28th. Bank of America Corporation boosted their price target on WellCare Health Plans from $185.00 to $189.00 and gave the stock a neutral rating in a research report on Friday, July 14th. Finally, Deutsche Bank AG boosted their price target on WellCare Health Plans from $185.00 to $192.00 and gave the stock a buy rating in a research report on Thursday, July 13th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $173.92.
Shares of WellCare Health Plans (NYSE:WCG) opened at 167.36 on Friday. The company’s 50 day moving average price is $177.50 and its 200-day moving average price is $162.45. The firm has a market capitalization of $7.45 billion, a P/E ratio of 29.40 and a beta of 0.84. WellCare Health Plans has a 12 month low of $109.74 and a 12 month high of $184.88.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts predict that WellCare Health Plans will post $6.98 earnings per share for the current fiscal year.
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In related news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the transaction, the director now directly owns 5,722 shares in the company, valued at $984,012.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelly A. Munson sold 3,000 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $173.71, for a total value of $521,130.00. Following the transaction, the executive vice president now owns 4,243 shares in the company, valued at $737,051.53. The disclosure for this sale can be found here. Insiders sold 20,688 shares of company stock worth $3,592,329 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC purchased a new position in shares of WellCare Health Plans during the first quarter valued at about $112,000. Creative Planning raised its position in shares of WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock valued at $121,000 after buying an additional 25 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of WellCare Health Plans during the second quarter valued at about $121,000. Eagle Global Advisors LLC purchased a new position in shares of WellCare Health Plans during the second quarter valued at about $211,000. Finally, Neuberger Berman Group LLC raised its position in shares of WellCare Health Plans by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after buying an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.
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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