WellCare Health Plans, Inc. (WCG) Forecasted to Post FY2019 Earnings of $12.00 Per Share

WellCare Health Plans, Inc. (NYSE:WCG) – Cantor Fitzgerald issued their FY2019 earnings estimates for WellCare Health Plans in a report released on Wednesday. Cantor Fitzgerald analyst S. Halper expects that the company will earn $12.00 per share for the year. Cantor Fitzgerald currently has a “Buy” rating and a $235.00 target price on the stock.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.11. WellCare Health Plans had a net margin of 2.20% and a return on equity of 17.10%. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley increased their price objective on shares of WellCare Health Plans from $214.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday. Cowen reaffirmed an “outperform” rating and set a $250.00 price objective on shares of WellCare Health Plans in a report on Tuesday, January 23rd. Zacks Investment Research downgraded shares of WellCare Health Plans from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 6th. Goldman Sachs Group began coverage on shares of WellCare Health Plans in a report on Wednesday, January 3rd. They set a “buy” rating and a $255.00 price objective on the stock. Finally, ValuEngine downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $218.21.

WellCare Health Plans (WCG) traded up $3.59 on Friday, reaching $193.69. 376,593 shares of the company’s stock traded hands, compared to its average volume of 351,489. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $8,683.76, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 1.26 and a beta of 0.82. WellCare Health Plans has a fifty-two week low of $136.23 and a fifty-two week high of $221.75.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of WellCare Health Plans by 0.6% in the fourth quarter. BlackRock Inc. now owns 4,271,908 shares of the company’s stock valued at $859,121,000 after buying an additional 25,516 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of WellCare Health Plans by 5.3% in the fourth quarter. Acadian Asset Management LLC now owns 1,597,827 shares of the company’s stock valued at $321,339,000 after buying an additional 80,960 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of WellCare Health Plans by 44.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,035,902 shares of the company’s stock valued at $208,331,000 after buying an additional 318,631 shares during the last quarter. American Century Companies Inc. raised its position 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 valued at $102,172,000 after buying an additional 223,364 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of WellCare Health Plans by 7.3% in the third quarter. Russell Investments Group Ltd. now owns 533,384 shares of the company’s stock valued at $91,603,000 after buying an additional 36,198 shares during the last quarter. Institutional investors and hedge funds own 99.28% of the company’s stock.

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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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