Equities research analysts predict that WellCare Health Plans, Inc. (NYSE:WCG) will post sales of $4.27 billion for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for WellCare Health Plans’ earnings, with the lowest sales estimate coming in at $4.20 billion and the highest estimate coming in at $4.40 billion. WellCare Health Plans reported sales of $3.59 billion in the same quarter last year, which indicates a positive year over year growth rate of 18.9%. The business is expected to announce its next earnings report before the market opens on Friday, August 4th.
On average, analysts expect that WellCare Health Plans will report full year sales of $4.27 billion for the current year, with estimates ranging from $16.75 billion to $16.96 billion. For the next fiscal year, analysts anticipate that the business will post sales of $18.87 billion per share, with estimates ranging from $18.52 billion to $19.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow WellCare Health Plans.
WellCare Health Plans (NYSE:WCG) last announced its earnings results on Wednesday, May 3rd. The company reported $1.61 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $3.85 billion. WellCare Health Plans had a net margin of 1.85% and a return on equity of 14.75%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share.
WCG has been the subject of several recent research reports. Jefferies Group LLC reiterated a “hold” rating and issued a $142.00 price objective on shares of WellCare Health Plans in a research note on Wednesday, April 19th. Morgan Stanley initiated coverage on WellCare Health Plans in a research note on Tuesday, June 6th. They issued an “equal weight” rating and a $183.00 price objective for the company. Deutsche Bank AG lifted their price objective on WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Leerink Swann reiterated an “outperform” rating and issued a $225.00 price objective (up previously from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Finally, Bank of America Corporation lifted their price objective on WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a research note on Friday, July 14th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $165.75.
In other news, SVP Yount Michael sold 2,500 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $166.57, for a total transaction of $416,425.00. Following the sale, the senior vice president now owns 4,804 shares of the company’s stock, valued at approximately $800,202.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Troy Meyer sold 600 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $171.86, for a total value of $103,116.00. Following the sale, the vice president now directly owns 73 shares in the company, valued at approximately $12,545.78. The disclosure for this sale can be found here. Insiders have sold a total of 24,019 shares of company stock worth $4,133,066 in the last three months. Corporate insiders own 0.50% of the company’s stock.
Several large investors have recently modified their holdings of WCG. OppenheimerFunds Inc. raised its stake in shares of WellCare Health Plans by 13.4% in the first quarter. OppenheimerFunds Inc. now owns 392,226 shares of the company’s stock valued at $54,994,000 after buying an additional 46,415 shares during the period. First Citizens Bank & Trust Co. raised its stake in shares of WellCare Health Plans by 62.5% in the first quarter. First Citizens Bank & Trust Co. now owns 2,483 shares of the company’s stock valued at $348,000 after buying an additional 955 shares during the period. Swiss National Bank raised its stake in shares of WellCare Health Plans by 0.5% in the first quarter. Swiss National Bank now owns 73,200 shares of the company’s stock valued at $10,263,000 after buying an additional 400 shares during the period. Parametrica Management Ltd raised its stake in shares of WellCare Health Plans by 23.3% in the first quarter. Parametrica Management Ltd now owns 2,096 shares of the company’s stock valued at $294,000 after buying an additional 396 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of WellCare Health Plans by 29.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 67,549 shares of the company’s stock valued at $9,473,000 after buying an additional 15,299 shares during the period. 98.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of WellCare Health Plans (WCG) traded up 0.05% during trading on Friday, reaching $183.87. 209,024 shares of the company’s stock were exchanged. WellCare Health Plans has a 12-month low of $105.16 and a 12-month high of $184.88. The stock has a 50-day moving average price of $179.12 and a 200 day moving average price of $156.75. The company has a market capitalization of $8.18 billion, a P/E ratio of 30.25 and a beta of 0.86.
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.
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