Raymond James Raises WellCare Group to Outperform (WCG)

By admin | 6 years ago

WellCare Group (NYSE: WCG) was upgraded by research analysts at Raymond James (NYSE: RJF) from a “market perform” rating to an “outperform” rating in a report released on Wednesday.

Shares of WellCare Group traded down 1.56% during mid-day trading on Wednesday, hitting $61.99. WellCare Group has a 52 week low of $33.29 and a 52 week high of $74.41. The company has a market cap of $2.656 billion and a P/E ratio of 10.32.

The company last announced its quarterly results on Wednesday, May 2nd. It reported $1.32 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.54 EPS by $0.78. The company’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts predict that WellCare Group will post $1.53 earnings per share next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank (NYSE: DB) raised their price target on shares of WellCare Group to $70.00 in a research note to investors on Friday, February 17th. Separately, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of WellCare Group from $61.00 to $79.00 in a research note to investors on Thursday, February 16th. They now have an “equal weight” rating on the stock. Finally, analysts at Wedbush reiterated a “neutral” rating on shares of WellCare Group in a research note to investors on Wednesday, February 15th.

WellCare Health Plans, Inc. (WellCare) provides managed care services to government-sponsored health care programs.

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