The stock of WellCare Health Plans, Inc. (NYSE:WCG) hit a new 52-week high and has $140.59 target or 4.00% above today’s $135.18 share price. The 8 months bullish chart indicates low risk for the $6.09 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $140.59 price target is reached, the company will be worth $243.60M 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 244,611 shares traded hands. WellCare Health Plans, Inc. (NYSE:WCG) has risen 42.70% since April 21, 2016 and is uptrending. It has outperformed by 37.37% the S&P500.
Analysts await WellCare Health Plans, Inc. (NYSE:WCG) to report earnings on February, 14. They expect $0.53 EPS, down 11.67% or $0.07 from last year’s $0.6 per share. WCG’s profit will be $23.88M for 63.76 P/E if the $0.53 EPS becomes a reality. After $1.63 actual EPS reported by WellCare Health Plans, Inc. for the previous quarter, Wall Street now forecasts -67.48% negative EPS growth.
WellCare Health Plans, Inc. (NYSE:WCG) Ratings Coverage
Out of 7 analysts covering Wellcare Health Plans Inc. (NYSE:WCG), 2 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 29% are positive. Wellcare Health Plans Inc. has been the topic of 12 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The stock of WellCare Health Plans, Inc. (NYSE:WCG) has “Underperform” rating given on Wednesday, December 16 by Credit Suisse. The firm has “Neutral” rating given on Wednesday, September 16 by JP Morgan. The company was upgraded on Monday, February 22 by Bank of America. The company was upgraded on Monday, February 22 by JP Morgan. The stock of WellCare Health Plans, Inc. (NYSE:WCG) earned “Hold” rating by Cantor Fitzgerald on Friday, June 24. The stock has “Neutral” rating given by Credit Suisse on Friday, November 11. Stifel Nicolaus maintained WellCare Health Plans, Inc. (NYSE:WCG) rating on Thursday, November 5. Stifel Nicolaus has “Buy” rating and $100 price target. TheStreet upgraded the stock to “Buy” rating in Thursday, July 23 report. The rating was downgraded by JP Morgan to “Neutral” on Thursday, November 10.
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 1.16 in 2016 Q2. Its down 0.01, from 1.17 in 2016Q1. The ratio worsened, 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.
Ww Asset Mngmt accumulated 2,534 shares or 0.01% of the stock. Wellington Llp has 0.11% invested in the company for 3.97M shares. Ladenburg Thalmann Finance Service last reported 424 shares in the company. Trexquant Inv Lp has 0.03% invested in the company for 2,041 shares. Tudor Inv Corporation Et Al holds 0.02% or 8,462 shares in its portfolio. Moreover, Blackrock Advsrs Limited Com has 0.02% invested in WellCare Health Plans, Inc. (NYSE:WCG) for 227,504 shares. Smith Graham & Communications Investment Advsr Ltd Partnership holds 0.69% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 46,932 shares. Citigroup Inc owns 808 shares or 0% of their US portfolio. Aperio Gru Ltd Co reported 6,122 shares or 0.01% of all its holdings. Liberty Mutual Grp Asset Management, a Massachusetts-based fund reported 19,155 shares. Profund Advsr Limited Com has invested 0.04% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). State Board Of Administration Of Florida Retirement Sys owns 56,134 shares or 0.02% of their US portfolio. The Massachusetts-based Adage Group Incorporated Ltd Com has invested 0.03% in WellCare Health Plans, Inc. (NYSE:WCG). Louisiana State Employees Retirement Systems accumulated 0.07% or 11,800 shares. Blackrock Gru holds 0.01% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 125,347 shares.
Insider Transactions: Since June 15, 2016, the stock had 0 insider purchases, and 3 sales for $1.64 million net activity. The insider Weaver Paul E sold $386,500. HICKEY KEVIN F had sold 1,000 shares worth $105,559. The insider STEELE GLENN JR MD PHD sold 10,000 shares worth $1.15M.
More news for WellCare Health Plans, Inc. (NYSE:WCG) were recently published by: Streetinsider.com, which released: “WellCare Health Plans (WCG) to Acquire Universal American (UAM) for $10/Share” on November 17, 2016. Prnewswire.com‘s article titled: “WellCare to Pilot In-Home Telemonitoring Program in Arkansas, Mississippi and …” and published on October 27, 2016 is yet another important article.
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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