Equities research analysts expect WellCare Health Plans, Inc. (NYSE:WCG) to announce sales of $4.43 billion for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for WellCare Health Plans’ earnings, with estimates ranging from $4.33 billion to $4.55 billion. WellCare Health Plans posted sales of $3.58 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 23.7%. The company is expected to announce its next earnings report on Tuesday, November 7th.

According to Zacks, analysts expect that WellCare Health Plans will report full-year sales of $4.43 billion for the current financial year, with estimates ranging from $16.82 billion to $17.06 billion. For the next financial year, analysts anticipate that the company will report sales of $19.03 billion per share, with estimates ranging from $18.53 billion to $19.27 billion. Zacks Investment Research’s sales averages are an 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 Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the firm posted $2.23 earnings per share. The company’s revenue for the quarter was up 19.8% on a year-over-year basis.

A number of research firms have recently weighed in on WCG. Jefferies Group LLC reaffirmed a “hold” rating and set a $170.00 price objective on shares of WellCare Health Plans in a research report on Thursday, June 8th. BidaskClub cut WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research cut WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine raised WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Leerink Swann reissued an “outperform” rating and issued a $225.00 price target (up from $185.00) on shares of WellCare Health Plans in a report on Thursday, June 22nd. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $173.92.

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In other news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the transaction, the director now owns 5,722 shares of the company’s stock, valued at approximately $984,012.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WCG. Wells Fargo & Company MN increased its position in shares of WellCare Health Plans by 45.1% during the 1st quarter. Wells Fargo & Company MN now owns 78,410 shares of the company’s stock valued at $10,994,000 after purchasing an additional 24,362 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of WellCare Health Plans by 6.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 32,017 shares of the company’s stock valued at $4,488,000 after purchasing an additional 1,813 shares during the last quarter. Swiss National Bank increased its position in shares of WellCare Health Plans by 0.5% during the 1st quarter. Swiss National Bank now owns 73,200 shares of the company’s stock valued at $10,263,000 after purchasing an additional 400 shares during the last quarter. World Asset Management Inc increased its position in shares of WellCare Health Plans by 13.8% during the 1st quarter. World Asset Management Inc now owns 3,417 shares of the company’s stock valued at $479,000 after purchasing an additional 414 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of WellCare Health Plans by 31.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 62,459 shares of the company’s stock valued at $8,757,000 after purchasing an additional 14,884 shares during the last quarter. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

Shares of WellCare Health Plans (NYSE:WCG) traded up 0.91% during midday trading on Friday, hitting $177.79. 429,045 shares of the stock were exchanged. WellCare Health Plans has a 52-week low of $111.36 and a 52-week high of $184.88. The stock has a market cap of $7.91 billion, a P/E ratio of 31.24 and a beta of 0.88. The firm’s 50 day moving average price is $173.98 and its 200-day moving average price is $165.65.

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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Earnings History and Estimates for WellCare Health Plans (NYSE:WCG)

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