WellCare Health Plans, Inc. (NYSE:WCG) to Post FY2017 Earnings of $6.93 Per Share, Jefferies Group Forecasts
WellCare Health Plans, Inc. (NYSE:WCG) – Analysts at Jefferies Group lifted their FY2017 earnings estimates for shares of WellCare Health Plans in a research report issued to clients and investors on Sunday. Jefferies Group analyst D. Windley now anticipates that the company will post earnings of $6.93 per share for the year, up from their previous estimate of $6.77. Jefferies Group has a “Hold” rating and a $170.00 price target on the stock. Jefferies Group also issued estimates for WellCare Health Plans’ Q4 2017 earnings at $0.79 EPS and FY2018 earnings at $7.97 EPS.
Several other research firms also recently commented on WCG. Morgan Stanley initiated coverage on shares of WellCare Health Plans in a report on Tuesday, June 6th. They issued an “equal weight” rating and a $183.00 price objective for the company. Deutsche Bank AG raised their price objective on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Leerink Swann restated an “outperform” rating and set a $225.00 price objective (up previously from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Bank of America Corporation raised their price objective on shares of WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Friday, July 14th. Finally, Zacks Investment Research lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. WellCare Health Plans currently has a consensus rating of “Hold” and a consensus price target of $170.09.
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Shares of WellCare Health Plans (WCG) opened at 173.12 on Tuesday. The firm has a market capitalization of $7.70 billion, a P/E ratio of 28.48 and a beta of 0.84. WellCare Health Plans has a 52-week low of $109.74 and a 52-week high of $184.88. The stock has a 50 day moving average of $180.02 and a 200-day moving average of $159.17.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.29. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the business earned $2.23 earnings per share. The firm’s quarterly revenue was up 19.8% on a year-over-year basis.
In other WellCare Health Plans news, VP Michael Troy Meyer sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $171.86, for a total value of $103,116.00. Following the completion of the transaction, the vice president now directly owns 73 shares in the company, valued at $12,545.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul E. Weaver sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $175.44, for a total transaction of $350,880.00. Following the completion of the transaction, the director now owns 15,262 shares of the company’s stock, valued at $2,677,565.28. The disclosure for this sale can be found here. Insiders have sold 12,914 shares of company stock valued at $2,255,369 over the last 90 days. 0.50% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in WellCare Health Plans by 7,347.7% in the first quarter. BlackRock Inc. now owns 4,195,120 shares of the company’s stock valued at $588,199,000 after buying an additional 4,138,792 shares during the period. Renaissance Technologies LLC increased its stake in WellCare Health Plans by 157.2% in the first quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock worth $86,692,000 after buying an additional 377,900 shares during the last quarter. AQR Capital Management LLC increased its stake in WellCare Health Plans by 18.8% in the first quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock worth $296,455,000 after buying an additional 334,095 shares during the last quarter. American Century Companies Inc. increased its stake in WellCare Health Plans by 712.9% in the second quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock worth $66,717,000 after buying an additional 325,853 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in WellCare Health Plans by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock worth $621,956,000 after buying an additional 231,890 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.
About WellCare Health Plans
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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