Equities analysts expect that WellCare Health Plans, Inc. (NYSE:WCG) will report earnings of $3.84 per share for the current quarter, according to Zacks. Five analysts have made estimates for WellCare Health Plans’ earnings, with the lowest EPS estimate coming in at $3.20 and the highest estimate coming in at $4.07. WellCare Health Plans posted earnings of $3.33 per share during the same quarter last year, which would suggest a positive year over year growth rate of 15.3%. The business is scheduled to report its next earnings results on Tuesday, October 29th.
On average, analysts expect that WellCare Health Plans will report full year earnings of $13.91 per share for the current year, with EPS estimates ranging from $13.16 to $14.40. For the next fiscal year, analysts anticipate that the firm will report earnings of $16.47 per share, with EPS estimates ranging from $15.62 to $17.20. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow WellCare Health Plans.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $4.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.16 by $0.15. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the prior year, the business posted $3.69 EPS. WellCare Health Plans’s quarterly revenue was up 51.1% on a year-over-year basis.
WCG has been the subject of several recent analyst reports. Stephens downgraded shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $330.00 to $317.00 in a report on Monday. BMO Capital Markets downgraded shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 price objective for the company. in a report on Monday, June 3rd. Finally, Cantor Fitzgerald downgraded shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $316.50.
Shares of NYSE WCG traded up $2.49 during trading hours on Friday, hitting $268.12. 11,291 shares of the stock were exchanged, compared to its average volume of 345,743. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.23 and a quick ratio of 1.23. The company’s 50 day moving average is $275.63 and its 200 day moving average is $272.26. The firm has a market capitalization of $13.79 billion, a P/E ratio of 24.31, a P/E/G ratio of 1.35 and a beta of 0.95. WellCare Health Plans has a one year low of $220.63 and a one year high of $324.99.
Several hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in WellCare Health Plans by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 22,170 shares of the company’s stock worth $5,980,000 after acquiring an additional 831 shares during the last quarter. Eagle Asset Management Inc. raised its stake in WellCare Health Plans by 0.8% during the second quarter. Eagle Asset Management Inc. now owns 233,928 shares of the company’s stock worth $66,685,000 after acquiring an additional 1,962 shares in the last quarter. Jennison Associates LLC acquired a new position in WellCare Health Plans during the first quarter worth about $79,297,000. Dupont Capital Management Corp acquired a new position in WellCare Health Plans during the second quarter worth about $458,000. Finally, Tiverton Asset Management LLC raised its stake in WellCare Health Plans by 76.7% during the second quarter. Tiverton Asset Management LLC now owns 14,809 shares of the company’s stock worth $4,222,000 after acquiring an additional 6,427 shares in the last quarter. Institutional investors own 93.04% of the company’s stock.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (PDPs). The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports programs for qualifying families who are not eligible for Medicaid.
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