WellCare Health Plans, Inc. (NYSE:WCG) Director H James Dallas purchased 1,171 shares of WellCare Health Plans stock in a transaction that occurred on Tuesday, December 4th. The shares were bought at an average cost of $256.35 per share, with a total value of $300,185.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of WCG traded down $5.32 during mid-day trading on Friday, reaching $238.83. The company’s stock had a trading volume of 13,772 shares, compared to its average volume of 1,103,103. WellCare Health Plans, Inc. has a 1-year low of $187.06 and a 1-year high of $324.99. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 1.40 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.24. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.06 billion. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $4.08 earnings per share. As a group, analysts expect that WellCare Health Plans, Inc. will post 11.01 earnings per share for the current year.
Several research analysts recently commented on the company. ValuEngine cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Barclays reaffirmed a “buy” rating and issued a $338.00 price objective on shares of WellCare Health Plans in a research report on Friday, September 28th. Cantor Fitzgerald raised their price objective on WellCare Health Plans from $292.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, September 17th. Evercore ISI started coverage on WellCare Health Plans in a research report on Tuesday, October 9th. They issued an “outperform” rating and a $365.00 price objective for the company. Finally, Morgan Stanley raised their price objective on WellCare Health Plans from $330.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 12th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $305.20.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Burney Co. bought a new position in shares of WellCare Health Plans during the second quarter worth approximately $431,000. MetLife Investment Advisors LLC increased its stake in shares of WellCare Health Plans by 1.2% during the second quarter. MetLife Investment Advisors LLC now owns 28,129 shares of the company’s stock worth $6,926,000 after purchasing an additional 340 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of WellCare Health Plans by 8.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 183,158 shares of the company’s stock worth $45,101,000 after purchasing an additional 14,715 shares during the period. Meadow Creek Investment Management LLC increased its stake in shares of WellCare Health Plans by 1.7% during the second quarter. Meadow Creek Investment Management LLC now owns 46,992 shares of the company’s stock worth $11,571,000 after purchasing an additional 792 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of WellCare Health Plans by 3.0% during the third quarter. Rhumbline Advisers now owns 101,936 shares of the company’s stock worth $32,669,000 after purchasing an additional 2,976 shares during the period. Institutional investors own 98.53% of the company’s stock.
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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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