WellCare Health Plans, Inc. (WCG) Receives $315.43 Consensus PT from Brokerages

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WellCare Health Plans, Inc. (NYSE:WCG) has been assigned an average rating of “Buy” from the eighteen analysts that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $315.43.

Several research analysts recently weighed in on WCG shares. Cowen started coverage on shares of WellCare Health Plans in a research report on Thursday, February 28th. They issued an “outperform” rating on the stock. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. BMO Capital Markets upped their price objective on shares of WellCare Health Plans to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th. Wells Fargo & Co decreased their price objective on shares of WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th.

A number of hedge funds and other institutional investors have recently modified their holdings of WCG. FMR LLC grew its position in WellCare Health Plans by 118.1% during the fourth quarter. FMR LLC now owns 2,876,051 shares of the company’s stock valued at $679,007,000 after acquiring an additional 1,557,652 shares during the last quarter. Vanguard Group Inc grew its position in WellCare Health Plans by 26.1% during the third quarter. Vanguard Group Inc now owns 5,602,927 shares of the company’s stock valued at $1,795,681,000 after acquiring an additional 1,159,497 shares during the last quarter. Viking Global Investors LP grew its position in WellCare Health Plans by 135.6% during the first quarter. Viking Global Investors LP now owns 1,320,404 shares of the company’s stock valued at $356,179,000 after acquiring an additional 759,986 shares during the last quarter. Carmignac Gestion bought a new position in WellCare Health Plans during the fourth quarter valued at approximately $168,192,000. Finally, Norges Bank bought a new position in WellCare Health Plans during the fourth quarter valued at approximately $147,415,000. Institutional investors and hedge funds own 91.53% of the company’s stock.

WCG stock opened at $278.03 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $14.07 billion, a P/E ratio of 25.21, a P/E/G ratio of 1.26 and a beta of 1.19. WellCare Health Plans has a 1-year low of $216.28 and a 1-year high of $324.99.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.10 by $0.59. The company had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.56 billion. WellCare Health Plans had a net margin of 2.17% and a return on equity of 15.47%. WellCare Health Plans’s revenue for the quarter was up 45.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.47 earnings per share. As a group, sell-side analysts predict that WellCare Health Plans will post 13.91 earnings per share for the current year.

WellCare Health Plans Company Profile

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.

See Also: Price to Earnings Ratio (PE) Basics

Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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