Shares of WellCare Health Plans, Inc. (NYSE:WCG) hit a new 52-week high during trading on Monday . The company traded as high as $325.00 and last traded at $321.72, with a volume of 313321 shares trading hands. The stock had previously closed at $322.07.
Several research analysts have weighed in on WCG shares. ValuEngine downgraded shares of WellCare Health Plans from a “hold” rating to a “sell” rating in a report on Friday, November 1st. Stephens lowered shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $330.00 to $317.00 in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $304.83.
The firm has a market cap of $16.21 billion, a price-to-earnings ratio of 29.18, a P/E/G ratio of 1.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. The business has a 50 day simple moving average of $298.90 and a 200-day simple moving average of $282.80.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $5.50 EPS for the quarter, topping the consensus estimate of $3.93 by $1.57. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.79 billion. WellCare Health Plans had a return on equity of 17.00% and a net margin of 2.34%. The company’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.33 earnings per share. As a group, research analysts anticipate that WellCare Health Plans, Inc. will post 15.42 earnings per share for the current year.
Several large investors have recently made changes to their positions in WCG. Arizona State Retirement System increased its holdings in WellCare Health Plans by 12.1% during the second quarter. Arizona State Retirement System now owns 25,148 shares of the company’s stock valued at $7,169,000 after buying an additional 2,722 shares during the last quarter. Hartford Investment Management Co. raised its holdings in WellCare Health Plans by 1.4% during the second quarter. Hartford Investment Management Co. now owns 5,645 shares of the company’s stock valued at $1,609,000 after acquiring an additional 77 shares during the period. Advisor Partners LLC lifted its position in shares of WellCare Health Plans by 16.6% in the second quarter. Advisor Partners LLC now owns 1,062 shares of the company’s stock valued at $303,000 after acquiring an additional 151 shares in the last quarter. Financial Gravity Wealth Inc. boosted its stake in shares of WellCare Health Plans by 4,633.3% in the second quarter. Financial Gravity Wealth Inc. now owns 142 shares of the company’s stock worth $40,000 after acquiring an additional 139 shares during the period. Finally, BP PLC purchased a new stake in shares of WellCare Health Plans during the second quarter worth about $1,568,000. 88.60% of the stock is currently owned by institutional investors.
WellCare Health Plans Company Profile (NYSE:WCG)
WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (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 programs for qualifying families who are not eligible for Medicaid.
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