Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of WellCare Health Plans from a hold rating to a strong-buy rating and set a $295.00 target price for the company in a report on Thursday, July 26th. SunTrust Banks raised their target price on shares of WellCare Health Plans to $315.00 and gave the stock a buy rating in a report on Wednesday, August 1st. Leerink Swann raised their target price on shares of WellCare Health Plans from $275.00 to $300.00 and gave the stock an outperform rating in a report on Wednesday, May 30th. Bank of America raised their target price on shares of WellCare Health Plans from $260.00 to $270.00 and gave the stock a buy rating in a report on Tuesday, July 24th. Finally, Morgan Stanley raised their target price on shares of WellCare Health Plans from $258.00 to $280.00 and gave the stock an equal weight rating in a report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $290.88.
NYSE:WCG opened at $307.36 on Wednesday. WellCare Health Plans has a twelve month low of $162.25 and a twelve month high of $315.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.27 and a quick ratio of 1.27. The stock has a market cap of $13.58 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.04.
WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, July 31st. The company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.03 by $0.66. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. The company had revenue of $4.64 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the company posted $2.52 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. equities research analysts expect that WellCare Health Plans will post 10.79 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd lifted its position in shares of WellCare Health Plans by 55.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock worth $126,000 after purchasing an additional 182 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of WellCare Health Plans by 98.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock worth $108,000 after purchasing an additional 279 shares in the last quarter. Tdam USA Inc. purchased a new stake in shares of WellCare Health Plans in the second quarter worth approximately $205,000. IBM Retirement Fund purchased a new stake in shares of WellCare Health Plans in the second quarter worth approximately $207,000. Finally, CAPROCK Group Inc. purchased a new stake in shares of WellCare Health Plans in the second quarter worth approximately $225,000. 97.38% of the stock is owned by institutional investors and hedge funds.
WellCare Health Plans 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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