WellCare Health Plans, Inc. Forecasted to Earn FY2017 Earnings of $6.85 Per Share (WCG)
WellCare Health Plans, Inc. (NYSE:WCG) – Stock analysts at Cantor Fitzgerald issued their FY2017 earnings per share estimates for shares of WellCare Health Plans in a research note issued to investors on Tuesday. Cantor Fitzgerald analyst S. Halper expects that the company will post earnings per share of $6.85 for the year. Cantor Fitzgerald currently has a “Buy” rating and a $195.00 target price on the stock.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the prior year, the business earned $2.23 earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “WellCare Health Plans, Inc. Forecasted to Earn FY2017 Earnings of $6.85 Per Share (WCG)” was posted by Watch List News and is the property of of Watch List News. If you are reading this news story on another website, it was copied illegally and republished in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be read at https://www.watchlistnews.com/wellcare-health-plans-inc-forecasted-to-earn-fy2017-earnings-of-6-85-per-share-wcg/1535220.html.
Other analysts also recently issued research reports about the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $170.00 price objective on shares of WellCare Health Plans in a research note on Thursday, June 8th. Wolfe Research reaffirmed a “market perform” rating on shares of WellCare Health Plans in a research note on Friday, May 5th. BidaskClub downgraded WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Finally, Morgan Stanley raised their price objective on WellCare Health Plans from $183.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $173.92.
Shares of WellCare Health Plans (WCG) opened at 174.68 on Thursday. WellCare Health Plans has a 1-year low of $109.74 and a 1-year high of $184.88. The stock has a market cap of $7.77 billion, a PE ratio of 30.69 and a beta of 0.84. The stock’s 50 day moving average price is $176.21 and its 200 day moving average price is $163.22.
Institutional investors have recently added to or reduced their stakes in the company. Dorsey Wright & Associates purchased a new position in WellCare Health Plans during the first quarter worth about $1,593,000. Elkfork Partners LLC boosted its position in WellCare Health Plans by 68.9% in the first quarter. Elkfork Partners LLC now owns 72,930 shares of the company’s stock worth $10,226,000 after buying an additional 29,750 shares during the period. Princeton Alpha Management LP purchased a new position in WellCare Health Plans during the first quarter worth about $461,000. DekaBank Deutsche Girozentrale boosted its position in WellCare Health Plans by 59.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 13,599 shares of the company’s stock worth $1,895,000 after buying an additional 5,096 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in WellCare Health Plans by 25.1% in the first quarter. Advisors Asset Management Inc. now owns 10,083 shares of the company’s stock worth $1,414,000 after buying an additional 2,023 shares during the period. Hedge funds and other institutional investors own 97.81% of the company’s stock.
In other WellCare Health Plans news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the completion of the transaction, the director now owns 5,722 shares in the company, valued at approximately $984,012.34. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul E. Weaver sold 2,000 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $175.44, for a total value of $350,880.00. Following the transaction, the director now owns 15,262 shares of the company’s stock, valued at approximately $2,677,565.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,688 shares of company stock valued at $3,592,329. Corporate insiders own 0.50% of the company’s stock.
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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