WellCare Health Plans (NYSE:WCG) posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.21 by $0.11, Bloomberg Earnings reports. WellCare Health Plans had a return on equity of 17.10% and a net margin of 2.20%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. WellCare Health Plans updated its FY18 guidance to $9.55-9.85 EPS.
Shares of WellCare Health Plans (NYSE WCG) opened at $194.33 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.31 and a quick ratio of 1.28. The stock has a market cap of $8,678.42, a PE ratio of 23.39, a P/E/G ratio of 1.25 and a beta of 0.82. WellCare Health Plans has a fifty-two week low of $136.23 and a fifty-two week high of $221.75.
A number of large investors have recently modified their holdings of WCG. Fuller & Thaler Asset Management Inc. purchased a new stake in WellCare Health Plans during the third quarter worth about $103,000. Advisory Services Network LLC increased its stake in WellCare Health Plans by 8.4% during the second quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after purchasing an additional 67 shares during the period. Bessemer Group Inc. increased its stake in WellCare Health Plans by 593.2% during the fourth quarter. Bessemer Group Inc. now owns 818 shares of the company’s stock worth $165,000 after purchasing an additional 700 shares during the period. Mackenzie Financial Corp purchased a new stake in WellCare Health Plans during the fourth quarter worth about $202,000. Finally, Matisse Capital purchased a new stake in WellCare Health Plans during the fourth quarter worth about $205,000. Institutional investors own 98.87% of the company’s stock.
Several research analysts have recently commented on the company. Morgan Stanley lifted their price target on WellCare Health Plans from $214.00 to $220.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Cantor Fitzgerald reiterated a “buy” rating and set a $235.00 price target on shares of WellCare Health Plans in a report on Tuesday, February 6th. Cowen reiterated an “outperform” rating and set a $250.00 price target on shares of WellCare Health Plans in a report on Tuesday, January 23rd. Zacks Investment Research lowered shares of WellCare Health Plans from a “strong-buy” rating to a “hold” rating in a report on Saturday, January 6th. Finally, Goldman Sachs Group began coverage on shares of WellCare Health Plans in a report on Wednesday, January 3rd. They issued a “buy” rating and a $255.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $218.21.
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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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