WellCare Health Plans Inc. (WCG): Today's Featured Health Services Loser
WellCare Health Plans (WCG) pushed the Health Services industry lower today making it today's featured Health Services loser. The industry as a whole closed the day up 0.8%. By the end of trading, WellCare Health Plans fell 52 cents (-1%) to $52.14 on average volume. Throughout the day, 983,409 shares of WellCare Health Plans exchanged hands as compared to its average daily volume of 880,100 shares. The stock ranged in price between $51.95-$53.15 after having opened the day at $52.95 as compared to the previous trading day's close of $52.66. Other company's within the Health Services industry that declined today were: Tengion (TNGN), down 15.8%, Sunshine Heart (SSH), down 9.9%, Oculus Innovative (OCLS), down 8.4%, and Biolase (BIOL), down 6%. WellCare Health Plans, Inc. provides managed care services for government-sponsored health care programs in the United States. WellCare Health Plans has a market cap of $2.22 billion and is part of the health care sector. The company has a P/E ratio of 7.6, equal to the average health services industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 1.8% year to date as of the close of trading on Monday. Currently there are three analysts that rate WellCare Health Plans a buy, no analysts rate it a sell, and eight rate it a hold. TheStreet Ratings rates WellCare Health Plans as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins.
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