Equities Analysts Issue Forecasts for WellCare Health Plans, Inc.’s Q3 2017 Earnings (WCG)
WellCare Health Plans, Inc. (NYSE:WCG) – Equities research analysts at Leerink Swann lowered their Q3 2017 earnings per share (EPS) estimates for shares of WellCare Health Plans in a report released on Monday. Leerink Swann analyst A. Gupte now expects that the company will post earnings of $2.00 per share for the quarter, down from their prior forecast of $2.09. Leerink Swann currently has a “Outperform” rating and a $225.00 target price on the stock. Leerink Swann also issued estimates for WellCare Health Plans’ Q4 2017 earnings at $1.37 EPS, FY2017 earnings at $7.50 EPS, FY2018 earnings at $8.55 EPS, FY2019 earnings at $9.95 EPS, FY2020 earnings at $12.10 EPS and FY2021 earnings at $15.75 EPS.
WCG has been the topic of several other research reports. Wolfe Research reaffirmed a “market perform” rating on shares of WellCare Health Plans in a research note on Monday, May 15th. Zacks Investment Research raised WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 price objective on the stock in a research note on Monday, May 1st. Credit Suisse Group reaffirmed a “neutral” rating and issued a $163.00 price objective (up previously from $155.00) on shares of WellCare Health Plans in a research note on Thursday, July 13th. BidaskClub downgraded WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC raised their price objective on WellCare Health Plans from $142.00 to $170.00 and gave the stock a “hold” rating in a research note on Thursday, May 4th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. WellCare Health Plans currently has an average rating of “Hold” and a consensus price target of $170.09.
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WellCare Health Plans (NYSE WCG) opened at 173.12 on Tuesday. WellCare Health Plans has a 12-month low of $109.74 and a 12-month high of $184.88. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 28.48 and a beta of 0.84. The firm’s 50-day moving average price is $180.02 and its 200-day moving average price is $159.17.
WellCare Health Plans (NYSE:WCG) last posted its earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.29. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.23 EPS.
Institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new position in WellCare Health Plans during the second quarter valued at $121,000. Advisory Services Network LLC purchased a new position in WellCare Health Plans during the first quarter valued at $112,000. Creative Planning boosted its position in WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock valued at $121,000 after buying an additional 25 shares in the last quarter. Eagle Global Advisors LLC purchased a new position in WellCare Health Plans during the second quarter valued at $211,000. Finally, Ronald Blue & Co. LLC purchased a new position in WellCare Health Plans during the second quarter valued at $240,000. Institutional investors and hedge funds own 98.71% of the company’s stock.
In related news, EVP Kelly A. Munson sold 3,000 shares of the stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $173.71, for a total transaction of $521,130.00. Following the completion of the sale, the executive vice president now owns 4,243 shares in the company, valued at $737,051.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Lynn Asher sold 7,314 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $175.04, for a total value of $1,280,242.56. Following the sale, the chief financial officer now owns 13,244 shares of the company’s stock, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. Insiders have sold 12,914 shares of company stock valued at $2,255,369 in the last quarter. 0.50% of the stock is currently owned by company insiders.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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