WellCare Health Plans (WCG) Sets New 12-Month High at $322.00

WellCare Health Plans, Inc. (NYSE:WCG)’s share price hit a new 52-week high on Thursday . The stock traded as high as $322.00 and last traded at $322.74, with a volume of 39716 shares trading hands. The stock had previously closed at $317.00.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Co reissued a “buy” rating on shares of WellCare Health Plans in a research report on Wednesday. Barclays reissued a “buy” rating and issued a $325.00 price objective on shares of WellCare Health Plans in a research report on Tuesday, September 18th. Cantor Fitzgerald increased their price objective on shares of WellCare Health Plans from $292.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, September 17th. BMO Capital Markets set a $345.00 price objective on shares of WellCare Health Plans and gave the company a “buy” rating in a research report on Friday, September 14th. Finally, Morgan Stanley increased their price objective on shares of WellCare Health Plans from $330.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 12th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $290.88.

The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44. The company has a market cap of $13.58 billion, a P/E ratio of 37.76, a PEG ratio of 1.82 and a beta of 1.04.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Tuesday, July 31st. The company reported $3.69 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $4.64 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the company posted $2.52 earnings per share. WellCare Health Plans’s revenue was up 7.8% compared to the same quarter last year. equities research analysts forecast that WellCare Health Plans, Inc. will post 10.79 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in WCG. Thrivent Financial for Lutherans grew its stake in shares of WellCare Health Plans by 3.9% in the first quarter. Thrivent Financial for Lutherans now owns 10,102 shares of the company’s stock valued at $1,956,000 after acquiring an additional 377 shares in the last quarter. BlackRock Inc. grew its stake in WellCare Health Plans by 6.5% during the first quarter. BlackRock Inc. now owns 4,551,672 shares of the company’s stock worth $881,340,000 after buying an additional 279,764 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in WellCare Health Plans during the first quarter worth about $2,983,000. New York State Common Retirement Fund grew its stake in WellCare Health Plans by 2.6% during the first quarter. New York State Common Retirement Fund now owns 128,841 shares of the company’s stock worth $24,947,000 after buying an additional 3,267 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in WellCare Health Plans by 4.9% during the first quarter. Great West Life Assurance Co. Can now owns 32,399 shares of the company’s stock worth $6,278,000 after buying an additional 1,515 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

About WellCare Health Plans (NYSE:WCG)

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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