WellCare Health Plans (NYSE:WCG)‘s stock had its “buy” rating reissued by stock analysts at Cantor Fitzgerald in a research report issued on Monday, December 18th. They currently have a $235.00 target price on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 11.13% from the company’s current price. Cantor Fitzgerald also issued estimates for WellCare Health Plans’ FY2018 earnings at $8.50 EPS.
The analysts wrote, “2018 guidance is solid. Total adjusted premium revenue is expected to be $17.95-18.475 billion, representing about 8% growth from 2017 levels. We have lowered our Medicaid and Medicare PDP revenue growth assumptions and increased our Medicare Health Plan revenue estimates. Nonetheless, our fully year revenue estimate declines to $18.5 billion from $19.1 billion. Medical loss ratio guidance was slightly lower than estimate and we have increased our tax rate assumption to 51% vs. 50% previously.””
Other research analysts have also issued reports about the company. Piper Jaffray Companies reissued a “buy” rating and issued a $214.00 price target on shares of WellCare Health Plans in a research report on Wednesday, November 1st. Zacks Investment Research raised WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 price target for the company in a research report on Thursday, November 2nd. ValuEngine raised WellCare Health Plans from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Deutsche Bank boosted their price target on WellCare Health Plans to $240.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Finally, Morgan Stanley upped their target price on WellCare Health Plans from $184.00 to $212.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $210.07.
Shares of WellCare Health Plans (NYSE WCG) traded up $5.58 during mid-day trading on Monday, hitting $211.47. The company’s stock had a trading volume of 227,517 shares, compared to its average volume of 349,493. WellCare Health Plans has a twelve month low of $136.23 and a twelve month high of $213.97. The stock has a market cap of $9,410.00, a PE ratio of 26.53, a price-to-earnings-growth ratio of 1.56 and a beta of 0.82. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.51.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $2.18. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the prior year, the business earned $1.63 EPS. The business’s revenue for the quarter was up 22.8% compared to the same quarter last year. analysts forecast that WellCare Health Plans will post 8.38 EPS for the current fiscal year.
In other news, Director Carol Burt sold 997 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new position in WellCare Health Plans during the third quarter worth approximately $103,000. Advisory Services Network LLC boosted its position in WellCare Health Plans by 8.4% during the second 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. Harvest Fund Management Co. Ltd boosted its position in WellCare Health Plans by 29.3% during the second quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock worth $237,000 after purchasing an additional 299 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new position in WellCare Health Plans during the second quarter worth approximately $287,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in WellCare Health Plans by 12.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,661 shares of the company’s stock worth $298,000 after purchasing an additional 184 shares in the last quarter. Hedge funds and other institutional investors 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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