Shares of WellCare (NYSE:WCG) have been assigned an average recommendation of “Buy” from the seventeen research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $220.15.
A number of equities analysts have weighed in on WCG shares. Cantor Fitzgerald reiterated a “buy” rating and set a $235.00 price objective on shares of WellCare in a research note on Tuesday, February 6th. Morgan Stanley lifted their price objective on WellCare from $214.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Goldman Sachs started coverage on WellCare in a research note on Wednesday, January 3rd. They set a “buy” rating and a $255.00 price objective for the company. Zacks Investment Research upgraded WellCare from a “hold” rating to a “buy” rating and set a $216.00 price objective for the company in a research note on Tuesday, February 20th. Finally, Cowen reiterated an “outperform” rating and set a $250.00 price objective on shares of WellCare in a research note on Tuesday, January 23rd.
Institutional investors have recently made changes to their positions in the stock. Two Sigma Advisers LP increased its stake in shares of WellCare by 31.2% in the 4th quarter. Two Sigma Advisers LP now owns 122,881 shares of the company’s stock valued at $24,713,000 after purchasing an additional 29,225 shares in the last quarter. BlackRock Inc. increased its stake in shares of WellCare by 0.6% in the 4th quarter. BlackRock Inc. now owns 4,271,908 shares of the company’s stock valued at $859,121,000 after purchasing an additional 25,516 shares in the last quarter. Highbridge Capital Management LLC purchased a new position in shares of WellCare in the 3rd quarter valued at about $311,000. California Public Employees Retirement System increased its stake in shares of WellCare by 1.3% in the 4th quarter. California Public Employees Retirement System now owns 142,055 shares of the company’s stock valued at $28,569,000 after purchasing an additional 1,891 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of WellCare by 5.5% in the 4th quarter. Amalgamated Bank now owns 9,326 shares of the company’s stock valued at $1,876,000 after purchasing an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 98.21% of the company’s stock.
WCG stock traded down $1.47 during midday trading on Friday, reaching $200.24. The stock had a trading volume of 361,409 shares, compared to its average volume of 337,667. The firm has a market capitalization of $8,997.56, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. 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 has a 52-week low of $149.02 and a 52-week high of $221.75.
WellCare (NYSE:WCG) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.11. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.32 billion. WellCare had a return on equity of 17.10% and a net margin of 2.20%. The company’s revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. equities research analysts expect that WellCare will post 9.84 earnings per share for the current year.
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WellCare 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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