The stock of WellCare Health Plans, Inc. (NYSE:WCG) hit a new 52-week high and has $141.37 target or 3.00% above today’s $137.25 share price. The 9 months bullish chart indicates low risk for the $6.05B company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $141.37 price target is reached, the company will be worth $181.50M 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 276,063 shares traded hands. WellCare Health Plans, Inc. (NYSE:WCG) has risen 37.72% since April 26, 2016 and is uptrending. It has outperformed by 32.46% the S&P500.
Analysts await WellCare Health Plans, Inc. (NYSE:WCG) to report earnings on February, 14. They expect $0.53 earnings per share, down 11.67% or $0.07 from last year’s $0.6 per share. WCG’s profit will be $23.36 million for 64.74 P/E if the $0.53 EPS becomes a reality. After $1.63 actual earnings per share 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 rating was initiated by JP Morgan on Wednesday, September 16 with “Neutral”. TheStreet upgraded WellCare Health Plans, Inc. (NYSE:WCG) on Thursday, July 23 to “Buy” rating. The firm has “Hold” rating given on Friday, June 24 by Cantor Fitzgerald. The firm has “Overweight” rating by JP Morgan given on Monday, February 22. The stock of WellCare Health Plans, Inc. (NYSE:WCG) has “Neutral” rating given on Friday, November 11 by Credit Suisse. JP Morgan downgraded WellCare Health Plans, Inc. (NYSE:WCG) on Thursday, November 10 to “Neutral” rating. The stock has “Neutral” rating given by Bank of America on Monday, February 22. The rating was initiated by Credit Suisse on Wednesday, December 16 with “Underperform”. The firm earned “Buy” rating on Thursday, November 5 by Stifel Nicolaus.
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 dropped, 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.
Invesco accumulated 148,442 shares or 0.01% of the stock. Hood River Mngmt Ltd Liability Corp, a Oregon-based fund reported 102,866 shares. Manufacturers Life The reported 59,727 shares or 0.01% of all its holdings. Capstone Asset Com holds 0.01% or 4,383 shares in its portfolio. Trexquant Inv L P holds 0.03% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 2,041 shares. Proshare Lc last reported 0.01% of its portfolio in the stock. Teachers Advsrs accumulated 0.1% or 519,291 shares. Rock Springs Capital Management Limited Partnership has invested 1.86% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). Arizona State Retirement last reported 0.03% of its portfolio in the stock. Jaffetilchin Ltd Liability Corp holds 6,273 shares or 0.2% of its portfolio. Chicago Equity Prns Ltd Liability Corp, a Illinois-based fund reported 23,955 shares. Glenmede Na holds 30,308 shares or 0.02% of its portfolio. Blackrock Japan Com Limited has 715 shares for 0% of their US portfolio. California State Teachers Retirement Systems accumulated 93,818 shares or 0.02% of the stock. Amp Investors Limited has 0% invested in the company for 4,500 shares.
Insider Transactions: Since June 15, 2016, the stock had 0 insider buys, and 3 insider sales for $1.64 million net activity. On Tuesday, August 16 the insider STEELE GLENN JR MD PHD sold $1.15 million. The insider HICKEY KEVIN F sold 1,000 shares worth $105,559. The insider Weaver Paul E sold 3,000 shares worth $386,500.
More news for WellCare Health Plans, Inc. (NYSE:WCG) were recently published by: Prnewswire.com, which released: “WellCare to Acquire Universal American Corp.” on November 17, 2016. Prnewswire.com‘s article titled: “WellCare of Nebraska Offers Unique Programs for Nebraska Families and Children …” and published on November 14, 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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