Stephens lowered shares of WellCare Health Plans (NYSE:WCG) from an overweight rating to an equal weight rating in a research report released on Monday morning, BenzingaRatingsTable reports. They currently have $317.00 target price on the stock, down from their previous target price of $330.00.

Several other research firms have also recently weighed in on WCG. Cantor Fitzgerald cut WellCare Health Plans from an overweight rating to a neutral rating in a research note on Tuesday, July 30th. BMO Capital Markets cut WellCare Health Plans from an outperform rating to a market perform rating and set a $304.00 target price on the stock. in a research note on Monday, June 3rd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. WellCare Health Plans currently has a consensus rating of Hold and an average price target of $316.50.

NYSE WCG opened at $265.63 on Monday. The stock’s 50-day moving average price is $275.63 and its two-hundred day moving average price is $272.26. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.45. The company has a market cap of $13.58 billion, a PE ratio of 24.08, a PEG ratio of 1.33 and a beta of 0.95. WellCare Health Plans has a 1 year low of $220.63 and a 1 year high of $324.99.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, July 30th. The company reported $4.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.16 by $0.15. WellCare Health Plans had a return on equity of 14.95% and a net margin of 2.09%. The company had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the business posted $3.69 EPS. The business’s revenue for the quarter was up 51.1% on a year-over-year basis. Research analysts forecast that WellCare Health Plans will post 13.91 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in WellCare Health Plans by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 5,381,421 shares of the company’s stock valued at $1,534,082,000 after acquiring an additional 94,109 shares in the last quarter. Magnetar Financial LLC grew its stake in shares of WellCare Health Plans by 53.6% in the 2nd quarter. Magnetar Financial LLC now owns 912,876 shares of the company’s stock valued at $260,234,000 after buying an additional 318,581 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of WellCare Health Plans by 8.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 743,510 shares of the company’s stock valued at $212,696,000 after buying an additional 58,374 shares in the last quarter. Paulson & CO. Inc. grew its stake in shares of WellCare Health Plans by 86.6% in the 2nd quarter. Paulson & CO. Inc. now owns 587,700 shares of the company’s stock valued at $167,536,000 after buying an additional 272,800 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of WellCare Health Plans by 3.6% in the 2nd quarter. Northern Trust Corp now owns 553,527 shares of the company’s stock valued at $157,794,000 after buying an additional 19,411 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors.

WellCare Health Plans Company Profile

WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (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 programs 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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