WellCare Health Plans, Inc. (NYSE:WCG) – Equities researchers at Cantor Fitzgerald increased their FY2018 earnings per share estimates for shares of WellCare Health Plans in a report released on Wednesday. Cantor Fitzgerald analyst S. Halper now expects that the company will earn $8.25 per share for the year, up from their previous forecast of $7.90. Cantor Fitzgerald currently has a “Buy” rating and a $195.00 target price on the stock.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $2.18. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.37 billion. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS.

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A number of other analysts have also weighed in on the stock. Deutsche Bank AG upped their target price on shares of WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Bank of America Corporation upped their target price on shares of WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a report on Friday, July 14th. Mitsubishi UFJ Financial Group started coverage on shares of WellCare Health Plans in a report on Thursday, September 21st. They set an “overweight” rating and a $204.00 target price on the stock. Finally, ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $190.25.

In other WellCare Health Plans news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction that occurred on Thursday, August 10th. The shares were 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 $984,012.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of WellCare Health Plans stock in a transaction that occurred on 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 directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp raised its position in shares of WellCare Health Plans by 0.3% during the second quarter. M&T Bank Corp now owns 2,088 shares of the company’s stock valued at $376,000 after buying an additional 6 shares during the last quarter. World Asset Management Inc raised its position in shares of WellCare Health Plans by 0.3% during the second quarter. World Asset Management Inc now owns 3,428 shares of the company’s stock valued at $616,000 after buying an additional 11 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of WellCare Health Plans by 1.1% during the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after buying an additional 16 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of WellCare Health Plans by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,493 shares of the company’s stock valued at $1,166,000 after buying an additional 22 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of WellCare Health Plans by 0.6% during the second quarter. Meeder Asset Management Inc. now owns 9,779 shares of the company’s stock valued at $1,755,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 98.40% 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.

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

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