SunTrust Banks started coverage on shares of WellCare Health Plans (NYSE:WCG) in a research report report published on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $270.00 price objective on the stock.
Several other brokerages have also recently commented on WCG. Zacks Investment Research upgraded shares of WellCare Health Plans from a hold rating to a buy rating and set a $216.00 price objective for the company in a research note on Tuesday, February 20th. ValuEngine raised shares of WellCare Health Plans from a hold rating to a buy rating in a report on Friday, April 27th. Wells Fargo & Co raised shares of WellCare Health Plans from a market perform rating to an outperform rating in a report on Wednesday, March 21st. Leerink Swann lifted their target price on shares of WellCare Health Plans from $275.00 to $300.00 and gave the stock an outperform rating in a research note on Wednesday, May 30th. Finally, Morgan Stanley lifted their target price on shares of WellCare Health Plans from $228.00 to $237.00 and gave the stock an equal weight rating in a research note on Wednesday, May 30th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $237.44.
WellCare Health Plans opened at $239.97 on Monday, MarketBeat Ratings reports. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $10.62 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.58 and a beta of 0.94. WellCare Health Plans has a 12 month low of $162.25 and a 12 month high of $243.71.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Tuesday, May 1st. The company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.52. WellCare Health Plans had a net margin of 2.31% and a return on equity of 17.99%. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business earned $1.61 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. equities research analysts expect that WellCare Health Plans will post 10.27 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Allianz Asset Management GmbH lifted its position in WellCare Health Plans by 1.7% in the first quarter. Allianz Asset Management GmbH now owns 200,074 shares of the company’s stock valued at $38,741,000 after buying an additional 3,415 shares during the last quarter. Amalgamated Bank increased its stake in WellCare Health Plans by 6.0% during the first quarter. Amalgamated Bank now owns 9,886 shares of the company’s stock worth $1,914,000 after purchasing an additional 560 shares during the period. Principal Financial Group Inc. increased its stake in WellCare Health Plans by 3.0% during the first quarter. Principal Financial Group Inc. now owns 207,477 shares of the company’s stock worth $40,174,000 after purchasing an additional 5,962 shares during the period. WINTON GROUP Ltd increased its stake in WellCare Health Plans by 22.9% during the first quarter. WINTON GROUP Ltd now owns 93,768 shares of the company’s stock worth $18,156,000 after purchasing an additional 17,458 shares during the period. Finally, CIBC World Markets Inc. purchased a new stake in WellCare Health Plans during the first quarter worth about $531,000. 97.26% of the stock is currently owned by institutional investors.
About WellCare Health Plans
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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