WellCare Health Plans (WCG) Now Covered by Credit Suisse Group

Research analysts at Credit Suisse Group assumed coverage on shares of WellCare Health Plans (NYSE:WCG) in a report released on Monday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $307.00 price target on the stock. Credit Suisse Group’s target price indicates a potential upside of 18.42% from the company’s previous close.

Several other equities analysts have also recently weighed in on WCG. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Wednesday, December 19th. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Cowen assumed coverage on shares of WellCare Health Plans in a research note on Thursday, February 28th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reiterated a “buy” rating and issued a $330.00 price objective on shares of WellCare Health Plans in a research note on Monday, December 17th. Finally, Stephens assumed coverage on shares of WellCare Health Plans in a research note on Monday, January 14th. They issued an “overweight” rating and a $276.00 price objective on the stock. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $306.47.

Shares of NYSE:WCG opened at $259.25 on Monday. WellCare Health Plans has a twelve month low of $199.23 and a twelve month high of $324.99. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $13.60 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.24.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, February 5th. The company reported $1.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.08. WellCare Health Plans had a net margin of 2.15% and a return on equity of 15.39%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The business’s quarterly revenue was up 37.5% on a year-over-year basis. As a group, analysts expect that WellCare Health Plans will post 13.6 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC raised its stake in WellCare Health Plans by 766.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 104 shares of the company’s stock worth $28,000 after acquiring an additional 92 shares during the period. Havens Advisors LLC bought a new stake in WellCare Health Plans during the 1st quarter worth approximately $1,484,000. Calamos Wealth Management LLC bought a new stake in WellCare Health Plans during the 1st quarter worth approximately $2,780,000. Calamos Advisors LLC raised its stake in WellCare Health Plans by 2,137.3% during the 1st quarter. Calamos Advisors LLC now owns 42,957 shares of the company’s stock worth $11,588,000 after acquiring an additional 41,037 shares during the period. Finally, Gradient Investments LLC bought a new stake in WellCare Health Plans during the 1st quarter worth approximately $826,000. Institutional investors own 98.49% of the company’s stock.

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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