Wall Street analysts expect WellCare Health Plans, Inc. (NYSE:WCG) to report $4.68 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for WellCare Health Plans’ earnings, with the lowest sales estimate coming in at $4.66 billion and the highest estimate coming in at $4.73 billion. WellCare Health Plans posted sales of $3.95 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.5%. The company is scheduled to announce its next quarterly earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that WellCare Health Plans will report full-year sales of $4.68 billion for the current year, with estimates ranging from $18.53 billion to $18.93 billion. For the next financial year, analysts anticipate that the company will post sales of $19.65 billion per share, with estimates ranging from $19.11 billion to $20.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover WellCare Health Plans.
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 consensus estimate of $0.21 by $0.11. WellCare Health Plans had a return on equity of 0.78% and a net margin of 0.11%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same period in the prior year, the company earned $1.03 earnings per share. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently modified their holdings of WCG. Nationwide Fund Advisors boosted its position in WellCare Health Plans by 21.8% during the third quarter. Nationwide Fund Advisors now owns 214,619 shares of the company’s stock valued at $36,859,000 after purchasing an additional 38,427 shares during the last quarter. Candriam Luxembourg S.C.A. acquired a new position in WellCare Health Plans during the third quarter valued at approximately $515,000. Sei Investments Co. boosted its position in WellCare Health Plans by 4.3% during the third quarter. Sei Investments Co. now owns 15,225 shares of the company’s stock valued at $2,615,000 after purchasing an additional 626 shares during the last quarter. Rhumbline Advisers boosted its position in WellCare Health Plans by 11.4% during the third quarter. Rhumbline Advisers now owns 108,573 shares of the company’s stock valued at $18,646,000 after purchasing an additional 11,113 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in WellCare Health Plans by 7.3% during the third quarter. Russell Investments Group Ltd. now owns 533,384 shares of the company’s stock valued at $91,603,000 after purchasing an additional 36,198 shares during the last quarter. 98.26% of the stock is owned by hedge funds and other institutional investors.
Shares of WellCare Health Plans (NYSE WCG) opened at $193.72 on Tuesday. WellCare Health Plans has a fifty-two week low of $136.23 and a fifty-two week high of $221.75. The stock has a market capitalization of $8,693.43, a PE ratio of 23.31, a price-to-earnings-growth ratio of 1.25 and a beta of 0.88. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.49.
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.
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