WellCare Health Plans (NYSE:WCG) had its price objective boosted by Morgan Stanley from $280.00 to $330.00 in a report published on Wednesday. The brokerage currently has an equal weight rating on the stock.
A number of other research firms also recently commented on WCG. JPMorgan Chase & Co. upgraded WellCare Health Plans from a neutral rating to an overweight rating and increased their price objective for the stock from $223.00 to $287.00 in a report on Wednesday, June 27th. Zacks Investment Research upgraded WellCare Health Plans from a hold rating to a strong-buy rating and set a $295.00 price objective on the stock in a report on Thursday, July 26th. Argus increased 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. Leerink Swann increased their price objective on WellCare Health Plans from $275.00 to $300.00 and gave the stock an outperform rating in a report on Wednesday, May 30th. Finally, SunTrust Banks increased their price objective on WellCare Health Plans to $315.00 and gave the stock a buy rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $276.47.
NYSE WCG opened at $305.41 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $13.55 billion, a PE ratio of 35.85, a P/E/G ratio of 1.88 and a beta of 1.04. WellCare Health Plans has a 52-week low of $162.25 and a 52-week high of $307.19.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, July 31st. The company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.66. The business had revenue of $4.64 billion during the quarter, compared to analyst estimates of $4.65 billion. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.52 earnings per share. sell-side analysts predict that WellCare Health Plans will post 10.88 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in WCG. Alps Advisors Inc. acquired a new position in WellCare Health Plans during the first quarter valued at approximately $479,000. SG Americas Securities LLC grew its holdings in WellCare Health Plans by 65.8% during the first quarter. SG Americas Securities LLC now owns 14,712 shares of the company’s stock valued at $2,849,000 after purchasing an additional 5,840 shares during the last quarter. Trexquant Investment LP acquired a new position in WellCare Health Plans during the first quarter valued at approximately $1,592,000. American Century Companies Inc. grew its holdings in WellCare Health Plans by 81.4% during the first quarter. American Century Companies Inc. now owns 1,038,186 shares of the company’s stock valued at $201,024,000 after purchasing an additional 465,888 shares during the last quarter. Finally, Swiss National Bank grew its holdings in WellCare Health Plans by 2.1% during the first quarter. Swiss National Bank now owns 77,400 shares of the company’s stock valued at $14,987,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors own 97.39% of the company’s stock.
WellCare Health Plans Company Profile
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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