WellCare Health Plans, Inc. (WCG) Set to Announce Quarterly Earnings on Monday
WellCare Health Plans, Inc. (NYSE:WCG) will issue its quarterly earnings data before the market opens on Monday, October 30th. Analysts expect the company to announce earnings of $1.90 per share for the quarter. WellCare Health Plans has set its FY17 guidance at $6.75-6.95 EPS.
WellCare Health Plans (NYSE:WCG) last released its earnings results on Friday, August 4th. The company reported $2.52 earnings per share (EPS) 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 firm 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 firm earned $2.23 earnings per share. WellCare Health Plans’s revenue was up 19.8% compared to the same quarter last year. On average, analysts expect WellCare Health Plans to post $7.01 EPS for the current fiscal year and $8.01 EPS for the next fiscal year.
WellCare Health Plans, Inc. (NYSE:WCG) traded down 0.37% during midday trading on Monday, reaching $179.86. 64,145 shares of the company were exchanged. WellCare Health Plans, Inc. has a 52-week low of $113.34 and a 52-week high of $184.88. The firm’s 50-day moving average price is $172.01 and its 200 day moving average price is $170.94. The stock has a market capitalization of $8.01 billion, a price-to-earnings ratio of 31.60 and a beta of 0.88.
A number of analysts have recently issued reports on WCG shares. Deutsche Bank AG increased their price target on shares of WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $195.00 price objective on shares of WellCare Health Plans in a research report on Saturday, August 26th. Zacks Investment Research lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. 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, Mitsubishi UFJ Financial Group started coverage on shares of WellCare Health Plans in a research report on Thursday, September 21st. They set an “overweight” rating and a $204.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. WellCare Health Plans presently has an average rating of “Hold” and an average target price of $181.73.
In related news, CEO Kenneth A. Burdick sold 8,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $171.97, for a total value of $1,440,076.78. Following the completion of the transaction, the director now directly owns 5,722 shares of the company’s stock, valued at $984,012.34. The disclosure for this sale can be found here. 0.47% of the stock is 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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