FY2018 EPS Estimates for WellCare Health Plans, Inc. (WCG) Boosted by Cantor Fitzgerald

WellCare Health Plans, Inc. (NYSE:WCG) – Cantor Fitzgerald upped their FY2018 EPS estimates for WellCare Health Plans in a research report issued on Wednesday. Cantor Fitzgerald analyst S. Halper now anticipates that the company will post earnings of $9.70 per share for the year, up from their prior estimate of $8.50. Cantor Fitzgerald has a “Buy” rating and a $235.00 price target on the stock.

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

WCG has been the subject of several other reports. BMO Capital Markets initiated coverage on WellCare Health Plans in a research report on Monday, October 16th. They issued an “outperform” rating and a $215.00 price objective for the company. Deutsche Bank increased their price objective on WellCare Health Plans to $240.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Zacks Investment Research lowered WellCare Health Plans from a “strong-buy” rating to a “hold” rating in a research report on Saturday, January 6th. Goldman Sachs Group assumed coverage on WellCare Health Plans in a research report on Wednesday, January 3rd. They set a “buy” rating and a $255.00 price target for the company. Finally, Bank of America raised their price target on WellCare Health Plans from $210.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, November 17th. Eight equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $218.21.

WellCare Health Plans (WCG) opened at $193.69 on Monday. The firm has a market capitalization of $8,623.66, a P/E ratio of 23.31, a P/E/G ratio of 1.24 and a beta of 0.82. WellCare Health Plans has a 52-week low of $136.23 and a 52-week high of $221.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.31 and a quick ratio of 1.28.

A number of large investors have recently added to or reduced their stakes in WCG. FMR LLC boosted its holdings in WellCare Health Plans by 285.7% in the second quarter. FMR LLC now owns 211,664 shares of the company’s stock valued at $38,007,000 after purchasing an additional 156,786 shares during the period. Macquarie Group Ltd. boosted its holdings in WellCare Health Plans by 126.0% in the second quarter. Macquarie Group Ltd. now owns 69,887 shares of the company’s stock valued at $12,549,000 after purchasing an additional 38,961 shares during the period. Janus Henderson Group PLC purchased a new position in WellCare Health Plans in the second quarter valued at $30,078,000. The Manufacturers Life Insurance Company boosted its holdings in WellCare Health Plans by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 65,327 shares of the company’s stock valued at $11,730,000 after purchasing an additional 1,364 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in WellCare Health Plans by 6.9% in the second quarter. Sterling Capital Management LLC now owns 7,043 shares of the company’s stock valued at $1,265,000 after purchasing an additional 454 shares during the period. Hedge funds and other institutional investors own 99.28% of the company’s stock.

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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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