Equities research analysts predict that WellCare Health Plans, Inc. (NYSE:WCG) will announce sales of $4.68 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for WellCare Health Plans’ earnings. The lowest sales estimate is $4.66 billion and the highest is $4.73 billion. WellCare Health Plans reported sales of $3.95 billion in the same quarter last year, which would suggest a positive year over year growth rate of 18.5%. The firm is expected to report its next earnings results on Wednesday, May 2nd.
On average, analysts expect that WellCare Health Plans will report full year sales of $4.68 billion for the current fiscal year, with estimates ranging from $18.53 billion to $18.93 billion. For the next year, analysts anticipate that the company will report sales of $19.65 billion per share, with estimates ranging from $19.11 billion to $20.64 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for WellCare Health Plans.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.11. WellCare Health Plans had a net margin of 2.20% and a return on equity of 17.10%. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.32 billion. During the same quarter in the prior year, the business posted $1.03 earnings per share. The company’s quarterly revenue was up 23.5% compared to the same quarter last year.
WCG has been the subject of several recent research reports. Goldman Sachs Group initiated coverage on shares of WellCare Health Plans in a research report on Wednesday, January 3rd. They issued a “buy” rating and a $255.00 price target for the company. ValuEngine lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Cowen reissued an “outperform” rating and issued a $250.00 price target on shares of WellCare Health Plans in a research report on Tuesday, January 23rd. Cantor Fitzgerald reissued a “buy” rating and issued a $235.00 price target on shares of WellCare Health Plans in a research report on Monday, December 18th. Finally, Bank of America raised shares of WellCare Health Plans from a “neutral” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Friday. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $217.86.
WellCare Health Plans (NYSE:WCG) traded up $1.18 during trading hours on Tuesday, reaching $194.75. 644,244 shares of the company traded hands, compared to its average volume of 331,683. WellCare Health Plans has a 52-week low of $136.23 and a 52-week high of $221.75. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.31 and a quick ratio of 1.31. The firm has a market capitalization of $8,650.68, a price-to-earnings ratio of 23.56, a PEG ratio of 1.24 and a beta of 0.88.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB acquired a new stake in shares of WellCare Health Plans during the fourth quarter worth approximately $812,000. Banco de Sabadell S.A acquired a new stake in shares of WellCare Health Plans during the fourth quarter worth approximately $1,054,000. MetLife Investment Advisors LLC acquired a new stake in shares of WellCare Health Plans during the fourth quarter worth approximately $5,665,000. Gotham Asset Management LLC acquired a new stake in shares of WellCare Health Plans during the fourth quarter worth approximately $202,000. Finally, Redmile Group LLC acquired a new stake in shares of WellCare Health Plans during the fourth quarter worth approximately $29,030,000. 98.26% of the stock is owned by institutional investors.
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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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