WellCare Health Plans, Inc. (NYSE:WCG) had its price objective increased by Piper Jaffray Companies from $155.00 to $160.00 in a research report report published on Wednesday morning. The firm currently has an overweight rating on the stock.
A number of other equities research analysts also recently weighed in on WCG. J P Morgan Chase & Co downgraded shares of WellCare Health Plans from an overweight rating to a neutral rating and set a $115.00 price target on the stock. in a research note on Thursday, November 10th. Credit Suisse Group upgraded shares of WellCare Health Plans from an underperform rating to a neutral rating and lifted their price target for the stock from $108.00 to $115.00 in a research note on Friday, November 11th. Leerink Swann reiterated an outperform rating and set a $135.00 price target (up previously from $115.00) on shares of WellCare Health Plans in a research note on Friday, November 18th. Goldman Sachs Group, Inc. (The) downgraded shares of WellCare Health Plans from a buy rating to a neutral rating in a research note on Tuesday, December 13th. Finally, Jefferies Group LLC reiterated a hold rating and set a $137.00 price target (up previously from $134.00) on shares of WellCare Health Plans in a research note on Wednesday, December 21st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $123.83.
WellCare Health Plans (NYSE:WCG) opened at 143.76 on Wednesday. The stock has a market capitalization of $6.37 billion, a P/E ratio of 26.48 and a beta of 1.00. WellCare Health Plans has a 52 week low of $80.58 and a 52 week high of $151.93. The stock has a 50 day moving average of $143.14 and a 200 day moving average of $126.35.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, February 7th. The company reported $1.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.51. WellCare Health Plans had a net margin of 1.70% and a return on equity of 14.01%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that WellCare Health Plans will post $6.41 earnings per share for the current fiscal year.
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In other WellCare Health Plans news, Director Paul E. Weaver sold 3,000 shares of the business’s stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $128.83, for a total transaction of $386,490.00. Following the completion of the sale, the director now directly owns 15,892 shares of the company’s stock, valued at approximately $2,047,366.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of WellCare Health Plans during the fourth quarter valued at $67,350,000. JPMorgan Chase & Co. boosted its stake in shares of WellCare Health Plans by 30.3% in the third quarter. JPMorgan Chase & Co. now owns 1,988,127 shares of the company’s stock valued at $232,789,000 after buying an additional 462,749 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of WellCare Health Plans by 18.0% in the third quarter. Acadian Asset Management LLC now owns 1,689,536 shares of the company’s stock valued at $197,830,000 after buying an additional 257,930 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of WellCare Health Plans by 3,598.5% in the fourth quarter. Renaissance Technologies LLC now owns 240,400 shares of the company’s stock valued at $32,954,000 after buying an additional 233,900 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of WellCare Health Plans during the third quarter valued at $27,265,000.
About WellCare Health Plans
WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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