WellCare Health Plans, Inc. (NYSE:WCG) had its price target lifted by Bank of America Corporation from $210.00 to $215.00 in a report published on Friday morning. They currently have a neutral rating on the stock.
A number of other research firms have also commented on WCG. Zacks Investment Research lowered WellCare Health Plans from a buy rating to a hold rating in a research note on Monday, October 9th. Wells Fargo & Company reissued a market perform rating and issued a $188.00 price objective (up previously from $175.00) on shares of WellCare Health Plans in a research note on Wednesday, November 1st. BMO Capital Markets initiated coverage on WellCare Health Plans in a research note on Monday, October 16th. They issued an outperform rating and a $215.00 price objective on the stock. Morgan Stanley boosted their price objective on WellCare Health Plans from $184.00 to $212.00 and gave the stock an equal weight rating in a research note on Thursday, November 2nd. Finally, ValuEngine raised WellCare Health Plans from a hold rating to a buy rating in a research note on Friday, September 1st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. WellCare Health Plans currently has an average rating of Hold and a consensus price target of $197.00.
Shares of WellCare Health Plans (NYSE WCG) traded down $2.02 during midday trading on Friday, reaching $198.00. The company’s stock had a trading volume of 192,659 shares, compared to its average volume of 365,320. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. The company has a market cap of $8,820.00, a P/E ratio of 21.66, a P/E/G ratio of 1.54 and a beta of 0.81. WellCare Health Plans has a 52 week low of $127.82 and a 52 week high of $208.89.
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In related news, Director Carol Burt sold 997 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the sale, the chief executive officer now owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WCG. FMR LLC increased its holdings in WellCare Health Plans by 442.3% in the first quarter. FMR LLC now owns 54,878 shares of the company’s stock valued at $7,694,000 after purchasing an additional 44,759 shares during the last quarter. Capstone Asset Management Co. increased its holdings in shares of WellCare Health Plans by 9.1% in the second quarter. Capstone Asset Management Co. now owns 7,009 shares of the company’s stock worth $1,259,000 after acquiring an additional 587 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of WellCare Health Plans in the second quarter worth about $737,000. State of Alaska Department of Revenue bought a new stake in shares of WellCare Health Plans in the second quarter worth about $121,000. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of WellCare Health Plans by 4.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 16,284 shares of the company’s stock worth $2,924,000 after acquiring an additional 723 shares in the last quarter. Institutional investors and hedge funds own 98.17% of the company’s stock.
About WellCare Health Plans
WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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