Today, Brokerages gives Consensus Recommendation of “Hold” to WellCare Health Plans Inc. (WCG)

Today, Brokerages gives Consensus Recommendation of “Hold” to WellCare Health Plans Inc. (WCG)
Shares of WellCare Health Plans Inc. (NYSE:WCG) have received an average recommendation of “Hold” from the eleven ratings firms that are currently covering the firm. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $105.89.

Several brokerages recently weighed in on WCG. Leerink Swann reaffirmed an “outperform” rating and set a $135.00 price objective (up previously from $115.00) on shares of WellCare Health Plans in a research report on Friday, November 18th. Credit Suisse Group AG raised shares of WellCare Health Plans from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $108.00 to $115.00 in a research report on Friday, November 11th. JPMorgan Chase & Co. lowered shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating and set a $115.00 price objective on the stock. in a research report on Thursday, November 10th. Jefferies Group raised their price objective on shares of WellCare Health Plans to $105.00 in a research report on Wednesday, August 3rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $119.00 price objective (down previously from $126.00) on shares of WellCare Health Plans in a research report on Wednesday, August 3rd.

In related news, Director Paul E. Weaver sold 3,000 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $128.83, for a total transaction of $386,490.00. Following the transaction, the director now owns 15,892 shares of the company’s stock, valued at $2,047,366.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in WCG. Metropolitan Life Insurance Co. NY raised its position in shares of WellCare Health Plans by 2.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 70,467 shares of the company’s stock worth $6,536,000 after buying an additional 1,619 shares during the period. Arizona State Retirement System raised its position in shares of WellCare Health Plans by 3.7% in the first quarter. Arizona State Retirement System now owns 22,473 shares of the company’s stock worth $2,084,000 after buying an additional 800 shares during the period. Royal Bank of Canada increased its stake in WellCare Health Plans by 1,054.2% in the first quarter. Royal Bank of Canada now owns 199,050 shares of the company’s stock worth $18,462,000 after buying an additional 181,804 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in WellCare Health Plans during the first quarter worth $759,000. Finally, BlueMountain Capital Management LLC acquired a new stake in WellCare Health Plans during the first quarter worth $765,000. 99.84% of the stock is currently owned by institutional investors and hedge funds.

WellCare Health Plans (NYSE:WCG) traded down 0.63% on Friday, reaching $134.52. 110,154 shares of the company’s stock were exchanged. WellCare Health Plans has a 12 month low of $69.16 and a 12 month high of $136.26. The stock has a market capitalization of $5.96 billion, a PE ratio of 28.48 and a beta of 0.93. The firm has a 50 day moving average of $120.80 and a 200 day moving average of $111.35.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.52. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.51 billion. WellCare Health Plans had a net margin of 1.47% and a return on equity of 13.48%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. Equities analysts predict that WellCare Health Plans will post $5.43 earnings per share for the current fiscal year.

Related posts

Leave a Comment