.png "WellCare Health Plans (NYSE: WCG)")
In a report released today, Matthew Borsch from BMO Capital maintained a Buy rating on WellCare Health Plans (NYSE: WCG), with a price target of $345. The company’s shares closed yesterday at $301.41, close to its 52-week high of $315.65.
According to TipRanks.com, Borsch is a 3-star analyst with an average return of 4.5% and a 56.8% success rate. Borsch covers the Services sector, focusing on stocks such as Centene Corp, UnitedHealth, and Mednax Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for WellCare Health Plans with a $303.13 average price target, representing a 0.6% upside. In a report issued on August 31, Argus Research also maintained a Buy rating on the stock with a $360 price target.
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Based on WellCare Health Plans’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.64 billion and net profit of $152 million. In comparison, last year the company earned revenue of $4.31 billion and had a net profit of $74.1 million.
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WellCare Health Plans, Inc. engages in the provision of government-sponsored managed care services through Medicaid, Medicare Advantage, and Medicare Prescription Drug Plans to families, children, seniors, and individuals with complex medical needs. It operates through the following segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs.
