WellCare Health Plans, Inc. (NYSE:WCG) – Stock analysts at Jefferies Group reduced their Q4 2017 earnings estimates for WellCare Health Plans in a research note issued on Tuesday. Jefferies Group analyst D. Windley now forecasts that the company will earn $0.69 per share for the quarter, down from their previous estimate of $0.79. Jefferies Group currently has a “Hold” rating and a $210.00 price target on the stock. Jefferies Group also issued estimates for WellCare Health Plans’ Q2 2018 earnings at $2.24 EPS, Q3 2018 earnings at $2.39 EPS and Q4 2018 earnings at $1.84 EPS.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $1.90 by $2.18. The firm 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%. WellCare Health Plans’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share.

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WCG has been the topic of several other reports. Piper Jaffray Companies reiterated a “buy” rating and set a $214.00 target price on shares of WellCare Health Plans in a research report on Wednesday. Credit Suisse Group reiterated a “neutral” rating and set a $163.00 target price (up from $155.00) on shares of WellCare Health Plans in a research report on Thursday, July 13th. BidaskClub lowered shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Mitsubishi UFJ Financial Group assumed coverage on shares of 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. Finally, 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. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. WellCare Health Plans has an average rating of “Hold” and an average target price of $186.75.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of WellCare Health Plans by 1.6% in the second quarter. BlackRock Inc. now owns 4,260,559 shares of the company’s stock worth $765,026,000 after acquiring an additional 65,439 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of WellCare Health Plans by 1.8% in the second quarter. Acadian Asset Management LLC now owns 1,544,686 shares of the company’s stock worth $277,365,000 after acquiring an additional 27,855 shares during the last quarter. Capital Research Global Investors bought a new position in shares of WellCare Health Plans in the second quarter worth about $170,042,000. Renaissance Technologies LLC raised its stake in shares of WellCare Health Plans by 37.7% in the second quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock worth $152,858,000 after acquiring an additional 232,993 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of WellCare Health Plans by 60.1% in the third quarter. American Century Companies Inc. now owns 594,925 shares of the company’s stock worth $102,172,000 after acquiring an additional 223,364 shares during the last quarter. 98.40% of the stock is owned by institutional investors.

In other WellCare Health Plans news, CEO Kenneth A. Burdick sold 8,500 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were 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 legal filing with the SEC, which is available at this hyperlink. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the business’s 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 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. Insiders own 0.47% of the company’s stock.

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.

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

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