WellCare Health Plans (WCG) Downgraded to “Hold” at Zacks Investment Research
WellCare Health Plans (NYSE:WCG) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Saturday.
According to Zacks, “WellCare Health’s shares have outperformed the industry in a year’s time. Its robust inorganic growth is impressive. The company’s healthy balance sheet continues to support its operational excellence. Wellcare Health has also been witnessing revenue growth over the last six years. Following the strong third-quarter results, the company raised its guidance for 2017. However, its rising level of debt hurts the bottom line. Continuous increase in the total expenses also weighs on the margins.”
A number of other research analysts also recently weighed in on the company. Goldman Sachs Group began coverage on WellCare Health Plans in a research note on Wednesday. They issued a “buy” rating and a $255.00 price target on the stock. ValuEngine downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Cantor Fitzgerald reissued a “buy” rating and issued a $235.00 price target on shares of WellCare Health Plans in a research note on Monday, December 18th. Deutsche Bank increased their price target on WellCare Health Plans to $240.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Finally, Bank of America increased their price target on WellCare Health Plans from $210.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, November 17th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $210.07.
WellCare Health Plans (NYSE WCG) traded up $4.80 during trading hours on Friday, reaching $211.32. The company’s stock had a trading volume of 262,167 shares, compared to its average volume of 347,011. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $9,410.00, a P/E ratio of 26.51, a price-to-earnings-growth ratio of 1.57 and a beta of 0.82. WellCare Health Plans has a 12-month low of $136.23 and a 12-month high of $213.97.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.90 by $2.18. The company had revenue of $4.40 billion for 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 firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.63 EPS. analysts forecast that WellCare Health Plans will post 8.38 EPS for the current fiscal year.
In related news, Director Carol Burt sold 997 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.47% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. M&T Bank Corp increased its position in shares of WellCare Health Plans by 0.3% in the 2nd quarter. M&T Bank Corp now owns 2,088 shares of the company’s stock valued at $376,000 after buying an additional 6 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in WellCare Health Plans by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,493 shares of the company’s stock worth $1,166,000 after purchasing an additional 22 shares in the last quarter. Advisory Services Network LLC increased its holdings in WellCare Health Plans by 8.4% during the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after purchasing an additional 67 shares in the last quarter. Bank of Hawaii increased its holdings in WellCare Health Plans by 3.2% during the 2nd quarter. Bank of Hawaii now owns 3,765 shares of the company’s stock worth $676,000 after purchasing an additional 115 shares in the last quarter. Finally, Nicholas Investment Partners LP increased its holdings in WellCare Health Plans by 0.5% during the 2nd quarter. Nicholas Investment Partners LP now owns 22,886 shares of the company’s stock worth $4,109,000 after purchasing an additional 115 shares in the last quarter. Institutional investors and hedge funds own 99.74% of the company’s stock.
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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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