WellCare Health Plans (NYSE:WCG) received a $345.00 target price from stock analysts at BMO Capital Markets in a research report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 14.46% from the stock’s current price.

WCG has been the topic of a number of other reports. Morgan Stanley raised their price objective on WellCare Health Plans from $330.00 to $350.00 and gave the stock an “equal weight” rating in a report on Wednesday. Argus raised their price objective on WellCare Health Plans from $265.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, August 31st. SunTrust Banks raised their price objective on WellCare Health Plans to $315.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Cantor Fitzgerald raised their price objective on WellCare Health Plans to $292.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. Finally, Barclays raised their price objective on WellCare Health Plans from $288.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. Two analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $281.76.

NYSE WCG opened at $301.41 on Friday. WellCare Health Plans has a twelve month low of $162.25 and a twelve month high of $315.65. The stock has a market cap of $13.66 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 1.91 and a beta of 1.04. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, July 31st. The company reported $3.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.03 by $0.66. WellCare Health Plans had a return on equity of 19.20% and a net margin of 2.69%. The firm had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the business posted $2.52 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. equities analysts anticipate that WellCare Health Plans will post 10.87 EPS for the current year.

Large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of WellCare Health Plans by 8.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 183,158 shares of the company’s stock valued at $45,101,000 after buying an additional 14,715 shares during the period. Tdam USA Inc. purchased a new stake in shares of WellCare Health Plans during the 2nd quarter valued at about $205,000. American International Group Inc. raised its holdings in shares of WellCare Health Plans by 1.2% during the 2nd quarter. American International Group Inc. now owns 95,226 shares of the company’s stock valued at $23,448,000 after buying an additional 1,095 shares during the period. Meadow Creek Investment Management LLC raised its holdings in shares of WellCare Health Plans by 1.7% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 46,992 shares of the company’s stock valued at $11,571,000 after buying an additional 792 shares during the period. Finally, Dean Capital Investments Management LLC purchased a new stake in shares of WellCare Health Plans during the 2nd quarter valued at about $669,000. Institutional investors and hedge funds own 97.39% of the company’s stock.

About WellCare Health Plans

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.

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