WellCare Health Plans, Inc. (NYSE:WCG) – Leerink Swann raised their FY2019 earnings per share (EPS) estimates for WellCare Health Plans in a research report issued to clients and investors on Wednesday. Leerink Swann analyst A. Gupte now expects that the company will post earnings per share of $10.25 for the year, up from their previous estimate of $9.95. Leerink Swann also issued estimates for WellCare Health Plans’ FY2020 earnings at $12.15 EPS and FY2021 earnings at $16.00 EPS.

Several other equities research analysts have also recently weighed in on the stock. Deutsche Bank AG boosted 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. BidaskClub cut shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. ValuEngine upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Cantor Fitzgerald restated a “buy” rating and issued a $195.00 price target on shares of WellCare Health Plans in a research report on Saturday, August 26th. Finally, Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a research report on Friday, August 11th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $190.25.

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WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $2.18. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The company had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s revenue was up 22.8% on a year-over-year basis.

In related news, CEO Kenneth A. Burdick sold 8,500 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the completion of the sale, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 dated 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 sale, 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 currently owned by company insiders.

Several large investors have recently modified their holdings of WCG. Capital Research Global Investors acquired a new stake in shares of WellCare Health Plans during the 2nd quarter worth about $170,042,000. American Century Companies Inc. increased its position in shares of WellCare Health Plans by 712.9% during the 2nd quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock worth $66,717,000 after purchasing an additional 325,853 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of WellCare Health Plans by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock worth $152,858,000 after purchasing an additional 232,993 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of WellCare Health Plans during the 2nd quarter worth about $30,078,000. Finally, FMR LLC increased its position in shares of WellCare Health Plans by 285.7% during the 2nd quarter. FMR LLC now owns 211,664 shares of the company’s stock worth $38,007,000 after purchasing an additional 156,786 shares during the last quarter. 98.40% of the stock is owned by hedge funds and other institutional investors.

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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