Brokerages forecast that WellCare Health Plans, Inc. (NYSE:WCG) will report sales of $4.39 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for WellCare Health Plans’ earnings. The lowest sales estimate is $4.31 billion and the highest is $4.55 billion. WellCare Health Plans reported sales of $3.58 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.6%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 7th.

According to Zacks, analysts expect that WellCare Health Plans will report full year sales of $4.39 billion for the current year, with estimates ranging from $16.75 billion to $17.06 billion. For the next financial year, analysts expect that the business will report sales of $18.90 billion per share, with estimates ranging from $18.52 billion to $19.27 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 issued its quarterly earnings results on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.23 billion. During the same period last year, the company earned $2.23 EPS. WellCare Health Plans’s quarterly revenue was up 19.8% compared to the same quarter last year.

WCG has been the subject of several analyst reports. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a research report on Monday, May 1st. Deutsche Bank AG increased their price objective 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. BidaskClub lowered WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. 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 price objective for the company. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $170.00 price objective on shares of WellCare Health Plans in a research report on Thursday, June 8th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $170.09.

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In other news, VP Michael Troy Meyer sold 600 shares of the stock in a transaction 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 sale, the vice president now directly owns 73 shares in the company, valued at $12,545.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew Lynn Asher sold 7,314 shares of the stock in a transaction 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 in the company, valued at $2,318,229.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,914 shares of company stock worth $2,255,369. Insiders own 0.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of WellCare Health Plans by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock valued at $621,956,000 after buying an additional 231,890 shares during the last quarter. BlackRock Inc. boosted its stake in shares of WellCare Health Plans by 7,347.7% in the first quarter. BlackRock Inc. now owns 4,195,120 shares of the company’s stock valued at $588,199,000 after buying an additional 4,138,792 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of WellCare Health Plans by 18.8% in the first quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock valued at $296,455,000 after buying an additional 334,095 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of WellCare Health Plans by 1.8% in the second quarter. Acadian Asset Management LLC now owns 1,544,686 shares of the company’s stock valued at $277,365,000 after buying an additional 27,855 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of WellCare Health Plans by 157.2% in the first quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock valued at $86,692,000 after buying an additional 377,900 shares during the last quarter. Institutional investors and hedge funds own 98.71% of the company’s stock.

Shares of WellCare Health Plans (NYSE:WCG) opened at 173.77 on Thursday. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 30.53 and a beta of 0.84. WellCare Health Plans has a 52 week low of $109.74 and a 52 week high of $184.88. The company’s 50 day moving average price is $180.16 and its 200-day moving average price is $160.30.

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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Earnings History and Estimates for WellCare Health Plans (NYSE:WCG)

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