Price Action Don’t Lie: How Analysts Feel About WellCare Health Plans, Inc. After Making All-Time High?

Price Action Don't Lie: How Analysts Feel About WellCare Health Plans, Inc. After Making All Time High?

The stock of WellCare Health Plans, Inc. (NYSE:WCG) reached all time high today, Nov, 29 and still has $145.56 target or 6.00% above today’s $137.32 share price. This indicates more upside for the $6.05 billion company. This technical setup was reported by Barchart.com. If the $145.56 PT is reached, the company will be worth $363.00M 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 358,712 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 $23.35M for 64.77 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 upgraded by TheStreet on Thursday, July 23 to “Buy”. Credit Suisse upgraded WellCare Health Plans, Inc. (NYSE:WCG) on Friday, November 11 to “Neutral” rating. The stock of WellCare Health Plans, Inc. (NYSE:WCG) has “Neutral” rating given on Thursday, November 10 by JP Morgan. The stock has “Neutral” rating given by JP Morgan on Wednesday, September 16. The firm has “Underperform” rating by Credit Suisse given on Wednesday, December 16. The firm earned “Buy” rating on Thursday, November 5 by Stifel Nicolaus. As per Friday, June 24, the company rating was maintained by Cantor Fitzgerald. On Monday, February 22 the stock rating was upgraded by Bank of America to “Neutral”. The stock of WellCare Health Plans, Inc. (NYSE:WCG) earned “Overweight” rating by JP Morgan on Monday, February 22.

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 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.
Bnp Paribas Arbitrage Sa reported 20,636 shares or 0.01% of all its holdings. Retirement Sys Of Alabama accumulated 139,983 shares or 0.09% of the stock. Matarin Capital Mgmt Ltd Liability Company accumulated 0% or 54,871 shares. Eqis Mgmt has 0.06% invested in the company for 8,574 shares. Tiaa Cref Invest Mgmt Limited, a New York-based fund reported 417,215 shares. Principal Fincl Gru owns 173,918 shares or 0.03% of their US portfolio. Bridger Ltd Liability Company has 374,143 shares for 2.59% of their US portfolio. Point72 Asset L P holds 0.1% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 131,000 shares. Arizona State Retirement Systems has invested 0.03% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). Oregon Public Employees Retirement Fund reported 19,815 shares or 0.05% of all its holdings. Stifel Financial Corp owns 3,939 shares or 0% of their US portfolio. Deere last reported 2,746 shares in the company. Renaissance Tech Ltd Llc owns 95,500 shares or 0.02% of their US portfolio. Fiera reported 19,200 shares or 0.01% of all its holdings. Hbk Invs Lp has 44,500 shares for 0.04% of their US portfolio.

Insider Transactions: Since June 15, 2016, the stock had 0 insider buys, and 3 selling transactions for $1.64 million net activity. Another trade for 3,000 shares valued at $386,500 was sold by Weaver Paul E. $1.15M worth of WellCare Health Plans, Inc. (NYSE:WCG) was sold by STEELE GLENN JR MD PHD on Tuesday, August 16. Another trade for 1,000 shares valued at $105,559 was made by HICKEY KEVIN F on Wednesday, June 15.

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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