WellCare Health Plans (NYSE:WCG) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a research note issued on Friday, March 16th, MarketBeat reports. The brokerage presently has a $215.00 price objective on the stock. Bank of America’s price objective would indicate a potential upside of 12.57% from the stock’s previous close.
Several other analysts also recently issued reports on WCG. Goldman Sachs initiated coverage on WellCare Health Plans in a research note on Wednesday, January 3rd. 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. Cowen restated an “outperform” rating and issued a $250.00 price objective on shares of WellCare Health Plans in a report on Tuesday, January 23rd. Cantor Fitzgerald restated a “buy” rating and issued a $235.00 price objective on shares of WellCare Health Plans in a report on Monday, December 18th. Finally, Morgan Stanley lifted their price target on WellCare Health Plans from $214.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $217.86.
NYSE WCG traded down $5.29 during trading hours on Friday, reaching $191.00. 313,072 shares of the company’s stock were exchanged, compared to its average volume of 367,408. The firm has a market cap of $8,740.63, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.39 and a beta of 0.90. WellCare Health Plans has a one year low of $142.53 and a one year high of $221.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.31 and a quick ratio of 1.31.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.11. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.32 billion. WellCare Health Plans had a return on equity of 17.10% and a net margin of 2.20%. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period last year, the company earned $1.03 EPS. equities analysts expect that WellCare Health Plans will post 9.83 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Xact Kapitalforvaltning AB bought a new stake in shares of WellCare Health Plans during the fourth quarter worth $812,000. Banco de Sabadell S.A bought a new stake in shares of WellCare Health Plans in the fourth quarter worth $1,054,000. MetLife Investment Advisors LLC bought a new stake in shares of WellCare Health Plans in the fourth quarter worth $5,665,000. Gotham Asset Management LLC bought a new stake in shares of WellCare Health Plans in the fourth quarter worth $202,000. Finally, Redmile Group LLC bought a new stake in shares of WellCare Health Plans in the fourth quarter worth $29,030,000. 98.23% of the stock is currently owned by hedge funds and other institutional investors.
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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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