Equities Analysts Issue Forecasts for WellCare Health Plans, Inc.’s Q3 2017 Earnings (NYSE:WCG)
WellCare Health Plans, Inc. (NYSE:WCG) – Equities research analysts at Leerink Swann reduced their Q3 2017 earnings per share estimates for shares of WellCare Health Plans in a report issued on Monday. Leerink Swann analyst A. Gupte now expects that the company will post earnings of $2.00 per share for the quarter, down from their prior estimate of $2.09. Leerink Swann currently has a “Outperform” rating and a $225.00 target price on the stock. Leerink Swann also issued estimates for WellCare Health Plans’ Q4 2017 earnings at $1.37 EPS, FY2017 earnings at $7.50 EPS, FY2018 earnings at $8.55 EPS, FY2019 earnings at $9.95 EPS, FY2020 earnings at $12.10 EPS and FY2021 earnings at $15.75 EPS.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.29. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the business earned $2.23 EPS. TRADEMARK VIOLATION WARNING: This piece of content was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/08/08/equities-analysts-issue-forecasts-for-wellcare-health-plans-inc-s-q3-2017-earnings-nysewcg.html.
Other analysts also recently issued research reports about the company. BidaskClub downgraded WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 target price for the company in a research report on Monday, May 1st. Deutsche Bank AG boosted their target price on WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Morgan Stanley initiated coverage on WellCare Health Plans in a research report on Tuesday, June 6th. They issued an “equal weight” rating and a $183.00 target price for the company. Finally, Jefferies Group LLC restated a “hold” rating and issued a $170.00 target price on shares of WellCare Health Plans in a research report on Thursday, June 8th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $170.09.
WellCare Health Plans (NYSE WCG) opened at 173.12 on Tuesday. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 28.48 and a beta of 0.84. WellCare Health Plans has a one year low of $109.74 and a one year high of $184.88. The company has a 50-day moving average of $180.02 and a 200-day moving average of $159.17.
In other WellCare Health Plans news, VP Michael Troy Meyer sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $171.86, for a total value of $103,116.00. Following the completion of the sale, the vice president now owns 73 shares in the company, valued at $12,545.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew Lynn Asher sold 7,314 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $175.04, for a total value of $1,280,242.56. Following the completion of the sale, the chief financial officer now owns 13,244 shares of the company’s stock, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. Insiders sold 12,914 shares of company stock valued at $2,255,369 in the last quarter. Corporate insiders own 0.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Creative Planning increased its position in shares of WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock worth $121,000 after buying an additional 25 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of WellCare Health Plans by 2.7% in the first quarter. Capstone Asset Management Co. now owns 6,422 shares of the company’s stock worth $900,000 after buying an additional 170 shares in the last quarter. Parametrica Management Ltd increased its position 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 worth $294,000 after buying an additional 396 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of WellCare Health Plans during the first quarter worth approximately $477,000. Finally, Louisiana State Employees Retirement System increased its position in shares of WellCare Health Plans by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the company’s stock worth $1,570,000 after buying an additional 200 shares in the last quarter. Institutional investors own 98.71% of the company’s stock.
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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