WellCare Health Plans, Inc. (WCG) was a big mover last session, as the company saw its shares rise nearly 6% on the day. The upside was driven by the company’s announcement that it received a Notice of Intent to Award (“NOIA”) a contract to continue serving Medicaid recipients in Georgia. This led to solid volume too with far more shares changing hands than in a normal session. Yesterday’s rally breaks the recent trend of the company, as the stock is now trading above the volatile price range of $82.90 to $95.98 in the past one-month time frame.
In the last 30 days, the company witnessed two positive estimate revisions and the Zacks Consensus Estimate also moved higher over the same time frame, suggesting that more solid trading could be ahead for WellCare Health Plans. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
WellCare Health Plans currently carries a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.
Another favorably ranked stock in the Med-Hmo industry is Centene Corp. (CNC), which carries the same Zacks Rank as WellCare Health Plans.
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WELLCARE HEALTH (WCG): Free Stock Analysis Report
CENTENE CORP (CNC): Free Stock Analysis Report
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