WellCare Health Plans (NYSE:WCG) Earns Buy Rating from Barclays

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Barclays reaffirmed their buy rating on shares of WellCare Health Plans (NYSE:WCG) in a research note released on Tuesday, September 18th. The brokerage currently has a $325.00 target price on the stock.

Several other brokerages have also issued reports on WCG. Zacks Investment Research lowered shares of WellCare Health Plans from a buy rating to a hold rating in a research report on Tuesday, July 24th. BMO Capital Markets set a $345.00 price target on shares of WellCare Health Plans and gave the company a buy rating in a research report on Friday, September 14th. Wells Fargo & Co upped their price target on shares of WellCare Health Plans from $240.00 to $250.00 and gave the company an outperform rating in a research report on Wednesday, May 30th. Cantor Fitzgerald restated an overweight rating and set a $275.00 price target (up from $235.00) on shares of WellCare Health Plans in a research report on Thursday, July 5th. Finally, ValuEngine upgraded shares of WellCare Health Plans from a hold rating to a buy rating in a research report on Tuesday, June 5th. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. WellCare Health Plans has a consensus rating of Buy and a consensus target price of $296.00.

Shares of WellCare Health Plans stock traded up $5.67 during trading on Tuesday, hitting $307.77. The stock had a trading volume of 625,102 shares, compared to its average volume of 481,563. WellCare Health Plans has a 12 month low of $162.25 and a 12 month high of $324.99. The stock has a market cap of $14.35 billion, a P/E ratio of 36.12, a PEG ratio of 1.92 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.27.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, July 31st. The company reported $3.69 earnings per share (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 analyst estimates of $4.65 billion. During the same period in the previous year, the business earned $2.52 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side analysts predict that WellCare Health Plans will post 10.85 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd raised its stake in 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 buying an additional 182 shares in the last quarter. Advisors Asset Management Inc. raised its stake in WellCare Health Plans by 1.7% in the second quarter. Advisors Asset Management Inc. now owns 10,794 shares of the company’s stock worth $2,658,000 after buying an additional 182 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in 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 buying an additional 279 shares in the last quarter. State Treasurer State of Michigan raised its stake in WellCare Health Plans by 1.9% in the second quarter. State Treasurer State of Michigan now owns 16,500 shares of the company’s stock worth $4,063,000 after buying an additional 300 shares in the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in WellCare Health Plans by 0.6% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 46,900 shares of the company’s stock worth $11,549,000 after buying an additional 300 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

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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Analyst Recommendations for WellCare Health Plans (NYSE:WCG)

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