WellCare Health Plans, Inc. (WCG) Updates FY17 Earnings Guidance
WellCare Health Plans, Inc. (NYSE:WCG) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $8.25-8.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $7.03. The company issued revenue guidance of $16.775-17.025 billion, compared to the consensus revenue estimate of $16.92 billion.
Several research analysts have weighed in on the company. Mitsubishi UFJ Financial Group assumed coverage on WellCare Health Plans in a report on Thursday, September 21st. They set an overweight rating and a $204.00 target price on the stock. BidaskClub lowered WellCare Health Plans from a strong-buy rating to a buy rating in a report on Friday, July 28th. Zacks Investment Research lowered WellCare Health Plans from a buy rating to a hold rating in a report on Monday, October 9th. ValuEngine upgraded WellCare Health Plans from a hold rating to a buy rating in a report on Friday, September 1st. Finally, Morgan Stanley lifted their target price on WellCare Health Plans from $183.00 to $184.00 and gave the stock an equal weight rating in a report on Monday, August 7th. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. WellCare Health Plans currently has an average rating of Hold and a consensus target price of $181.73.
Shares of WellCare Health Plans, Inc. (NYSE:WCG) traded up 8.01% during mid-day trading on Tuesday, hitting $195.70. The stock had a trading volume of 234,375 shares. The firm’s 50 day moving average price is $173.36 and its 200 day moving average price is $172.96. The company has a market cap of $8.71 billion, a P/E ratio of 34.38 and a beta of 0.88. WellCare Health Plans, Inc. has a 1-year low of $114.41 and a 1-year high of $198.35.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Monday, October 30th. The company reported $4.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $2.18. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.37 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business’s revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. Analysts predict that WellCare Health Plans, Inc. will post $7.01 earnings per share for the current fiscal year.
In other news, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the transaction, the chief executive officer now owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the stock in a transaction dated 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 directly owns 5,722 shares in the company, valued at approximately $984,012.34. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.
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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