Stock of The Day: What’s Ahead for WellCare Health Plans, Inc. After Touching All Time High?

Stock of The Day: What's Ahead for WellCare Health Plans, Inc. After Touching All Time High?

The stock of WellCare Health Plans, Inc. (NYSE:WCG) reached all time high today, Nov, 22 and still has $143.87 target or 9.00% above today’s $131.99 share price. This indicates more upside for the $5.93 billion company. This technical setup was reported by Barchart.com. If the $143.87 PT is reached, the company will be worth $533.70 million 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. About 212,150 shares traded hands. WellCare Health Plans, Inc. (NYSE:WCG) has risen 38.20% since April 20, 2016 and is uptrending. It has outperformed by 33.64% the S&P500.

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. JP Morgan initiated the stock with “Neutral” rating in Wednesday, September 16 report. The company was upgraded on Monday, February 22 by Bank of America. The firm has “Buy” rating given on Thursday, July 23 by TheStreet. Stifel Nicolaus maintained it with “Buy” rating and $100 target price in Thursday, November 5 report. The firm earned “Underperform” rating on Wednesday, December 16 by Credit Suisse. JP Morgan downgraded the shares of WCG in a report on Thursday, November 10 to “Neutral” rating. The rating was maintained by Cantor Fitzgerald on Friday, June 24 with “Hold”. The firm has “Neutral” rating given on Friday, November 11 by Credit Suisse. The company was upgraded on Monday, February 22 by JP Morgan.

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.
Parametric Ltd Limited Liability Company has 77,763 shares for 0.01% of their US portfolio. Great Lakes Ltd Liability Corp holds 0.01% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 2,031 shares. Boston Advsr Ltd Company last reported 14,365 shares in the company. Westpac holds 0% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 2,860 shares. Louisiana State Employees Retirement Systems accumulated 0.07% or 11,800 shares. Cornerstone Capital Mgmt Hldgs Ltd accumulated 205,239 shares or 0.18% of the stock. Pioneer Invest Mgmt Incorporated holds 0.06% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 158,109 shares. Pennant Cap Management Ltd Liability reported 887,445 shares or 2.44% of all its holdings. Point72 Asset Mngmt L P accumulated 0.1% or 131,000 shares. Citadel Advsr Limited Liability Co accumulated 0% or 29,320 shares. Jefferies last reported 0% of its portfolio in the stock. State Board Of Administration Of Florida Retirement System owns 56,134 shares or 0.02% of their US portfolio. Intl accumulated 85,374 shares or 0% of the stock. Millennium Management last reported 0.02% of its portfolio in the stock. Epoch Prtn holds 0.12% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 303,752 shares.

Insider Transactions: Since June 15, 2016, the stock had 0 insider purchases, and 3 insider sales for $1.64 million net activity. On Wednesday, June 15 the insider HICKEY KEVIN F sold $105,559. STEELE GLENN JR MD PHD also sold $1.15M worth of WellCare Health Plans, Inc. (NYSE:WCG) on Tuesday, August 16. $386,500 worth of WellCare Health Plans, Inc. (NYSE:WCG) was sold by Weaver Paul E.

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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