WellCare Health Plans, Inc. (NYSE:WCG)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $301.76 and last traded at $301.58, with a volume of 17082 shares trading hands. The stock had previously closed at $296.86.

A number of research analysts recently issued reports on the company. ValuEngine downgraded WellCare Health Plans from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Cantor Fitzgerald downgraded WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Finally, Stephens downgraded WellCare Health Plans from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $330.00 to $317.00 in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $304.83.

The stock has a 50 day moving average of $273.72 and a 200-day moving average of $276.48. The company has a market capitalization of $14.94 billion, a P/E ratio of 27.47, a P/E/G ratio of 1.33 and a beta of 0.91. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.42.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $5.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.93 by $1.57. WellCare Health Plans had a return on equity of 17.00% and a net margin of 2.34%. The company had revenue of $7.14 billion during the quarter, compared to the consensus estimate of $6.79 billion. During the same period in the previous year, the company posted $3.33 EPS. The firm’s revenue was up 41.2% on a year-over-year basis. As a group, sell-side analysts expect that WellCare Health Plans, Inc. will post 15.04 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eagle Asset Management Inc. lifted its holdings in WellCare Health Plans by 0.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 233,928 shares of the company’s stock worth $66,685,000 after purchasing an additional 1,962 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in WellCare Health Plans in the 2nd quarter worth approximately $411,000. Flinton Capital Management LLC lifted its holdings in WellCare Health Plans by 83.3% in the 2nd quarter. Flinton Capital Management LLC now owns 1,584 shares of the company’s stock worth $452,000 after purchasing an additional 720 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in WellCare Health Plans by 476.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,094 shares of the company’s stock worth $1,167,000 after purchasing an additional 3,384 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in WellCare Health Plans in the 2nd quarter worth approximately $1,403,000. 92.41% of the stock is currently owned by institutional investors.

About WellCare Health Plans (NYSE:WCG)

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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