WellCare Group Shares Given New $79.00 Price Target by Barclays Capital Analysts (WCG)

Analysts at Barclays Capital (NYSE: BCS) increased their price target on shares of WellCare Group (NYSE: WCG) from $61.00 to $79.00 in a research report issued to clients and investors on Thursday. They currently have an “equal weight” rating on the company’s shares.

Separately, analysts at Wedbush reiterated a “neutral” rating on shares of WellCare Group in a research note to investors on Wednesday. Analysts at Bank of America (NYSE: BAC) reiterated a “buy” rating on shares of WellCare Group in a research note to investors on Wednesday. They now have a $78.00 price target on the stock, up previously from $69.00. Also, analysts at Goldman Sachs (NYSE: GS) reiterated a “buy” rating on shares of WellCare Group in a research note to investors on Friday, February 3rd.

WellCare Health Plans, Inc. (WellCare) provides managed care services to government-sponsored health care programs, focused on Medicaid and Medicare, including prescription drug plans and health plans for families, children and the aged, blind and disabled. As of December 31, 2009, the Company served approximately 2.3 million members. Through its licensed subsidiaries, as of December 31, 2009, WellCare operated its Medicaid health plans in Florida, New York, Illinois, Hawaii, Missouri, Ohio and Georgia, and its Medicare Advantage (MA) coordinated care plans (CCPs) in Florida, New York, Connecticut, Illinois, Indiana, Hawaii, Louisiana, Missouri, New Jersey, Ohio, Georgia and Texas. It also operated a stand-alone Medicare prescription drug plan (PDP) in all 50 states and the District of Columbia, and offered MA private fee-for-service (PFFS) plans to Medicare beneficiaries in approximately 1,783 counties and 42 states, and the District of Columbia as of December 31, 2009.

Shares of WellCare Group traded up 2.16% during mid-day trading on Thursday, hitting $69.53. WellCare Group has a one year low of $33.29 and a one year high of $71.54. The stock’s 50-day moving average is $59.28 and its 200-day moving average is $49.93. The company has a market cap of $2.979 billion and a P/E ratio of 11.16.

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Posted by Web Inquirer Staff on 19 Feb 2012. Filed under Markets. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.