The stock of WellCare Health Plans, Inc. (NYSE:WCG) hit a new 52-week high and has $178.36 target or 43.00% above today’s $124.73 share price. The 6 months bullish chart indicates low risk for the $5.91B company. The 1-year high was reported on Nov, 2 by Barchart.com. If the $178.36 price target is reached, the company will be worth $2.54 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.06 million shares traded hands or 173.91% up from the average. WellCare Health Plans, Inc. (NYSE:WCG) has risen 30.89% since March 31, 2016 and is uptrending. It has outperformed by 28.37% the S&P500.
WellCare Health Plans, Inc. (NYSE:WCG) Ratings Coverage
Out of 7 analysts covering Wellcare Health Plans Inc. (NYSE:WCG), 3 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 43% are positive. Wellcare Health Plans Inc. has been the topic of 10 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The company was initiated on Wednesday, December 16 by Credit Suisse. JP Morgan initiated the shares of WCG in a report on Wednesday, September 16 with “Neutral” rating. On Monday, February 22 the stock rating was upgraded by JP Morgan to “Overweight”. The company was maintained on Thursday, November 5 by Stifel Nicolaus. Cantor Fitzgerald maintained it with “Hold” rating and $90 target price in Friday, June 24 report. As per Thursday, July 23, the company rating was upgraded by TheStreet. The stock of WellCare Health Plans, Inc. (NYSE:WCG) has “Neutral” rating given on Monday, February 22 by Bank of America.
According to Zacks Investment Research, “WellCare Health Plans, Inc. provides managed care services targeted exclusively to government-sponsored healthcare programs, focusing on Medicaid and Medicare. WellCare provides high-quality, affordable healthcare services to members in Florida, New York, Connecticut, Illinois and Indiana.”
Insitutional Activity: The institutional sentiment decreased to 1.17 in Q2 2016. Its down 0.09, from 1.26 in 2016Q1. The ratio is negative, as 26 funds sold all WellCare Health Plans, Inc. shares owned while 89 reduced positions. 50 funds bought stakes while 84 increased positions. They now own 44.20 million shares or 13.26% less from 50.96 million shares in 2016Q1.
State Bank Of Montreal Can holds 90,986 shares or 0.01% of its portfolio. Diam Com accumulated 60,052 shares or 0.1% of the stock. Oxford Asset Management reported 10,700 shares or 0.05% of all its holdings. Texas Permanent School Fund owns 33,836 shares or 0.05% of their US portfolio. California State Teachers Retirement Sys has invested 0.02% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). Price T Rowe Assoc Inc Md accumulated 0.09% or 3.81 million shares. Capstone Inv Advisors Limited Liability has 7,872 shares for 0.02% of their US portfolio. Verition Fund Management Ltd Limited Liability Company last reported 3,804 shares in the company. Teachers Retirement Systems Of The State Of Kentucky last reported 25,450 shares in the company. Us State Bank De last reported 0% of its portfolio in the stock. Palisade Capital Management Limited Company Nj owns 26,783 shares or 0.1% of their US portfolio. Comerica Bancorp accumulated 0.03% or 30,742 shares. Cantab Ltd Liability Partnership has invested 0% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). Deutsche Commercial Bank Ag last reported 87,017 shares in the company. 1832 Asset Mgmt Lp accumulated 13,700 shares or 0.01% of the stock.
Insider Transactions: Since May 4, 2016, the stock had 0 insider buys, and 3 sales for $1.35 million net activity. HICKEY KEVIN F sold $105,559 worth of WellCare Health Plans, Inc. (NYSE:WCG) on Wednesday, June 15. Another trade for 10,000 shares valued at $1.15M was made by STEELE GLENN JR MD PHD on Tuesday, August 16. Anderson Lawrence also sold $93,045 worth of WellCare Health Plans, Inc. (NYSE:WCG) shares. The insider Graham Daniel Robert sold $198,385.
More recent WellCare Health Plans, Inc. (NYSE:WCG) news were published by: Benzinga.com which released: “Stocks Hitting 52-Week Highs” on November 02, 2016. Also Prnewswire.com published the news titled: “WellCare Health Plans of New Jersey Offers 2017 Medicare Advantage Options to …” on October 26, 2016. Prnewswire.com‘s news article titled: “WellCare Names Elizabeth Miller State President, Florida” with publication date: October 13, 2016 was also an interesting one.
WCG Company Profile
WellCare Health Plans, Inc., incorporated on February 5, 2004, is a managed care firm focused 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 complex medical needs. The Company’s divisions include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs. The Firm serves approximately 3.8 million members in approximately 50 states and the District of Columbia. The Company, through its contracts with approximately 224,000 health care providers and 71,000 pharmacies, provides its members with access to medically necessary services. The Company’s contracted providers deliver a range of services to its members, including primary and specialty physician care; laboratory and imaging services; inpatient, outpatient, home health and skilled facility care; medication and injectable drug therapy; ancillary services; durable medical equipment and related services; mental health and chemical dependency counseling and treatment; transportation, and dental, hearing and vision care.
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