WellCare Health Plans, Inc. (NYSE:WCG) Receives $312.00 Consensus Price Target from Brokerages

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WellCare Health Plans, Inc. (NYSE:WCG) has been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $312.00.

WCG has been the subject of a number of recent research reports. ValuEngine downgraded shares of WellCare Health Plans from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Stephens downgraded shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $330.00 to $317.00 in a report on Monday, September 9th. Finally, Cantor Fitzgerald downgraded shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th.

A number of institutional investors have recently modified their holdings of WCG. Insight Wealth Strategies LLC boosted its holdings in shares of WellCare Health Plans by 13.4% during the 3rd quarter. Insight Wealth Strategies LLC now owns 6,361 shares of the company’s stock valued at $1,649,000 after purchasing an additional 754 shares during the last quarter. Corient Capital Partners LLC bought a new position in shares of WellCare Health Plans during the 3rd quarter valued at about $256,000. Boston Advisors LLC boosted its holdings in shares of WellCare Health Plans by 10.9% during the 3rd quarter. Boston Advisors LLC now owns 9,481 shares of the company’s stock valued at $2,457,000 after purchasing an additional 935 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of WellCare Health Plans by 12.8% during the 3rd quarter. First Trust Advisors LP now owns 86,436 shares of the company’s stock valued at $22,402,000 after purchasing an additional 9,814 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of WellCare Health Plans by 8.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,165 shares of the company’s stock valued at $561,000 after purchasing an additional 165 shares during the last quarter. 91.64% of the stock is owned by institutional investors.

Shares of WCG stock traded up $10.36 during mid-day trading on Monday, reaching $312.16. 386,691 shares of the company’s stock traded hands, compared to its average volume of 678,294. WellCare Health Plans has a 12 month low of $220.63 and a 12 month high of $314.43. The firm has a 50 day moving average price of $278.00 and a two-hundred day moving average price of $277.87. 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 firm has a market capitalization of $15.32 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 1.35 and a beta of 0.91.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $5.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.93 by $1.57. WellCare Health Plans had a net margin of 2.34% and a return on equity of 17.00%. The firm had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.79 billion. During the same quarter in the previous year, the firm posted $3.33 EPS. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. As a group, equities analysts expect that WellCare Health Plans will post 15.42 earnings per share for the current fiscal 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.

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Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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