WellCare Health Plans, Inc. (WCG) Expected to Post Quarterly Sales of $4.43 Billion
Equities analysts forecast that WellCare Health Plans, Inc. (NYSE:WCG) will announce $4.43 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for WellCare Health Plans’ earnings. The highest sales estimate is $4.55 billion and the lowest is $4.33 billion. WellCare Health Plans posted sales of $3.58 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.7%. The business is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that WellCare Health Plans will report full-year sales of $4.43 billion for the current fiscal year, with estimates ranging from $16.82 billion to $17.06 billion. For the next financial year, analysts anticipate that the company will post sales of $19.03 billion per share, with estimates ranging from $18.53 billion to $19.27 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover WellCare Health Plans.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.23 by $0.29. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.23 EPS.
Several equities analysts have issued reports on the stock. ValuEngine downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday. Mitsubishi UFJ Financial Group assumed coverage on WellCare Health Plans in a research report on Thursday, September 21st. They set an “overweight” rating and a $204.00 target price on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $195.00 target price on shares of WellCare Health Plans in a research report on Saturday, August 26th. Zacks Investment Research raised WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 target price for the company in a report on Friday, August 11th. Finally, Morgan Stanley boosted their target price on WellCare Health Plans from $183.00 to $184.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $176.23.
In other news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the company’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 completion of the sale, the director now owns 5,722 shares in the company, valued at $984,012.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $174.24, for a total value of $1,481,040.00. Following the sale, the chief executive officer now owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in WellCare Health Plans in the 2nd quarter valued at $121,000. Advisory Services Network LLC raised its position in WellCare Health Plans by 8.4% during the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after buying an additional 67 shares during the last quarter. Eagle Global Advisors LLC purchased a new position in WellCare Health Plans during the 2nd quarter worth $211,000. Neuberger Berman Group LLC raised its position in WellCare Health Plans by 1.1% during the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock worth $216,000 after buying an additional 16 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in WellCare Health Plans during the 1st quarter worth $217,000. Hedge funds and other institutional investors own 97.78% of the company’s stock.
Shares of WellCare Health Plans (WCG) opened at 175.72 on Wednesday. WellCare Health Plans has a 12-month low of $113.34 and a 12-month high of $184.88. The firm has a market cap of $7.82 billion, a P/E ratio of 30.87 and a beta of 0.88. The company has a 50-day moving average of $171.74 and a 200 day moving average of $168.26.
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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