The stock of WellCare Health Plans, Inc. (NYSE:WCG) hit a new 52-week high and has $195.36 target or 69.00% above today’s $115.60 share price. The 5 months bullish chart indicates low risk for the $5.17 billion company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $195.36 price target is reached, the company will be worth $3.57 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. The stock decreased 1.27% or $1.49 on October 3, hitting $115.6. About 185,655 shares traded hands. WellCare Health Plans, Inc. (NYSE:WCG) has risen 30.29% since February 29, 2016 and is uptrending. It has outperformed by 18.07% the S&P500.
Analysts await WellCare Health Plans, Inc. (NYSE:WCG) to report earnings on November, 2. They expect $1.08 EPS, up 8.00% or $0.08 from last year’s $1 per share. WCG’s profit will be $48.30M for 26.76 P/E if the $1.08 EPS becomes a reality. After $2.23 actual EPS reported by WellCare Health Plans, Inc. for the previous quarter, Wall Street now forecasts -51.57% negative EPS growth.
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 rating was maintained by Cantor Fitzgerald with “Hold” on Friday, June 24. The firm has “Underperform” rating by Credit Suisse given on Wednesday, December 16. As per Thursday, November 5, the company rating was maintained by Stifel Nicolaus. The stock of WellCare Health Plans, Inc. (NYSE:WCG) earned “Neutral” rating by Bank of America on Monday, February 22. The firm earned “Buy” rating on Thursday, July 23 by TheStreet. The firm has “Overweight” rating by JP Morgan given on Monday, February 22. JP Morgan initiated WellCare Health Plans, Inc. (NYSE:WCG) on Wednesday, September 16 with “Neutral” rating.
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 fall, 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.
Pennant Limited Liability Company has 2.44% invested in the company for 887,445 shares. Great Lakes Advsr Ltd Liability accumulated 0.01% or 2,031 shares. Adage Partners Grp Inc Lc accumulated 100,000 shares or 0.03% of the stock. Zurcher Kantonalbank (Zurich Cantonalbank) owns 5,433 shares or 0.01% of their US portfolio. Qs Investors Ltd Limited Liability Company, a New York-based fund reported 97,594 shares. The California-based Hotchkis And Wiley Capital Mngmt Ltd Limited Liability Company has invested 0.01% in WellCare Health Plans, Inc. (NYSE:WCG). Mutual Of America Capital Management Ltd Liability Co reported 90,889 shares or 0.21% of all its holdings. Dimensional Fund Advsr Ltd Partnership accumulated 0.04% or 651,291 shares. Laurion Capital Mgmt L P holds 0.16% or 92,500 shares in its portfolio. Thrivent Fin For Lutherans has 0.02% invested in the company for 38,490 shares. Nomura Asset Mgmt has 1,030 shares for 0% of their US portfolio. Shelton accumulated 0.04% or 4,206 shares. Legal And General Group Public Ltd Limited Liability Company holds 32,369 shares or 0% of its portfolio. Secor Capital Advsrs Lp accumulated 0.1% or 7,064 shares. State Of Wisconsin Inv Board holds 0.01% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 29,860 shares.
Insider Transactions: Since May 4, 2016, the stock had 0 buys, and 4 sales for $1.55 million net activity. $93,045 worth of WellCare Health Plans, Inc. (NYSE:WCG) was sold by Anderson Lawrence. Graham Daniel Robert sold $198,385 worth of stock. 10,000 shares were sold by STEELE GLENN JR MD PHD, worth $1.15M. HICKEY KEVIN F had sold 1,000 shares worth $105,559.
More notable recent WellCare Health Plans, Inc. (NYSE:WCG) news were published by: Investorplace.com which released: “Wellcare Health Plans, Inc. (WCG) Is Winning the Obamacare Battle” on August 19, 2016, also Bizjournals.com with their article: “WellCare makes board appointment” published on September 30, 2016, Prnewswire.com published: “WellCare Appoints Rhonda Mims Chief Public Affairs Officer” on August 23, 2016. More interesting news about WellCare Health Plans, Inc. (NYSE:WCG) were released by: Prnewswire.com and their article: “WellCare Expands Efforts to Find and Engage Underserved Members in New York to …” published on August 09, 2016 as well as Prnewswire.com‘s news article titled: “WellCare Receives NCQA Quality Accreditation for Its Medicare Advantage Health …” with publication date: July 21, 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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