WellCare Health Plans, Inc. (NYSE:WCG) – Equities research analysts at Jefferies Group cut their FY2019 earnings estimates for WellCare Health Plans in a note issued to investors on Wednesday. Jefferies Group analyst D. Windley now anticipates that the company will post earnings per share of $10.26 for the year, down from their previous forecast of $10.44. Jefferies Group has a “Hold” rating and a $210.00 price objective on the stock.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $2.18. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.37 billion. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The company’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS.
Several other equities research analysts have also commented on the stock. Deutsche Bank increased their price objective on shares of WellCare Health Plans to $240.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Mitsubishi UFJ Financial Group started coverage on shares of WellCare Health Plans in a research note on Thursday, September 21st. They issued an “overweight” rating and a $204.00 price objective for the company. Morgan Stanley increased their price objective on shares of WellCare Health Plans from $184.00 to $212.00 and gave the company an “equal weight” rating in a research note on Thursday, November 2nd. Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 price target for the company in a research note on Thursday, November 2nd. Finally, Bank of America raised their price target on shares of WellCare Health Plans from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, November 17th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $210.07.
WellCare Health Plans (NYSE WCG) traded up $3.19 during trading hours on Thursday, reaching $206.51. 309,300 shares of the company’s stock traded hands, compared to its average volume of 317,533. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market cap of $9,380.00, a price-to-earnings ratio of 25.91, a price-to-earnings-growth ratio of 1.54 and a beta of 0.82. WellCare Health Plans has a 52-week low of $136.23 and a 52-week high of $213.97.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Research Global Investors bought a new position in WellCare Health Plans in the 2nd quarter valued at $170,042,000. Renaissance Technologies LLC boosted its holdings in WellCare Health Plans by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock valued at $152,858,000 after purchasing an additional 232,993 shares during the period. American Century Companies Inc. boosted its holdings in WellCare Health Plans by 60.1% in the 3rd quarter. American Century Companies Inc. now owns 594,925 shares of the company’s stock valued at $102,172,000 after purchasing an additional 223,364 shares during the period. Janus Henderson Group PLC bought a new position in WellCare Health Plans in the 2nd quarter valued at $30,078,000. Finally, FMR LLC boosted its holdings in WellCare Health Plans by 285.7% in the 2nd quarter. FMR LLC now owns 211,664 shares of the company’s stock valued at $38,007,000 after purchasing an additional 156,786 shares during the period. 99.74% of the stock is owned by institutional investors.
In related news, Director Carol Burt sold 997 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.47% of the company’s stock.
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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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