The stock of WellCare Health Plans, Inc. (NYSE:WCG) reached all time high today, Nov, 2 and still has $188.60 target or 54.00% above today’s $122.47 share price. This indicates more upside for the $5.80B company. This technical setup was reported by Barchart.com. If the $188.60 PT is reached, the company will be worth $3.13B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 0.88% or $1.07 during the last trading session, hitting $122.47. About 1.60M shares traded hands or 313.45% 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. On Monday, February 22 the stock rating was upgraded by JP Morgan to “Overweight”. Bank of America upgraded the shares of WCG in a report on Monday, February 22 to “Neutral” rating. The firm earned “Neutral” rating on Wednesday, September 16 by JP Morgan. The firm has “Buy” rating given on Thursday, November 5 by Stifel Nicolaus. The company was initiated on Wednesday, December 16 by Credit Suisse. The firm has “Hold” rating given on Friday, June 24 by Cantor Fitzgerald. The firm has “Buy” rating given on Thursday, July 23 by TheStreet.
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 2016 Q2. 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.
The New York-based Cornerstone Mgmt Limited Company has invested 0.18% in WellCare Health Plans, Inc. (NYSE:WCG). Parametric Portfolio Assocs Ltd Company last reported 0.01% of its portfolio in the stock. Whittier Co holds 105 shares or 0% of its portfolio. Bnp Paribas Inv Prns Sa has 0.04% invested in the company for 39,903 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta has 0% invested in the company for 2,700 shares. Numeric Ltd Liability, a Massachusetts-based fund reported 163,700 shares. Eaton Vance Mngmt last reported 369,000 shares in the company. Perceptive Advisors Ltd Liability Com has invested 0.04% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). Schwab Charles Invest Mgmt accumulated 0.04% or 317,063 shares. Pnc Svcs has invested 0% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). The North Carolina-based Piedmont Invest Advisors Limited Com has invested 0% in WellCare Health Plans, Inc. (NYSE:WCG). Ameriprise Financial owns 728,608 shares or 0.05% of their US portfolio. Emerald Advisers Pa accumulated 0.72% or 138,424 shares. Nomura Asset Management owns 1,030 shares or 0% of their US portfolio. Fiera Capital Corp, a Quebec – Canada-based fund reported 19,200 shares.
Insider Transactions: Since May 4, 2016, the stock had 0 insider buys, and 3 selling transactions for $1.35 million net activity. The insider Graham Daniel Robert sold $198,385. 1,000 WellCare Health Plans, Inc. (NYSE:WCG) shares with value of $93,045 were sold by Anderson Lawrence. HICKEY KEVIN F also sold $105,559 worth of WellCare Health Plans, Inc. (NYSE:WCG) shares. Shares for $1.15 million were sold by STEELE GLENN JR MD PHD on Tuesday, August 16.
More important recent WellCare Health Plans, Inc. (NYSE:WCG) news were published by: Prnewswire.com which released: “WellCare Reports Third Quarter 2016 Results” on November 01, 2016, also Benzinga.com published article titled: “Stocks Hitting 52-Week Highs”, Prnewswire.com published: “WellCare Health Plans of New Jersey Offers 2017 Medicare Advantage Options to …” on October 26, 2016. More interesting news about WellCare Health Plans, Inc. (NYSE:WCG) was released by: Prnewswire.com and their article: “WellCare Names Elizabeth Miller State President, Florida” with publication date: October 13, 2016.
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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