WellCare Health Plans, Inc. (NYSE:WCG) – Piper Jaffray Companies decreased their Q1 2019 EPS estimates for shares of WellCare Health Plans in a research note issued to investors on Tuesday, October 30th. Piper Jaffray Companies analyst S. James now forecasts that the company will earn $3.13 per share for the quarter, down from their previous estimate of $3.17. Piper Jaffray Companies also issued estimates for WellCare Health Plans’ Q4 2019 earnings at $2.02 EPS, Q2 2020 earnings at $4.95 EPS and Q3 2020 earnings at $4.61 EPS.
WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, October 30th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.09 by $0.24. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period last year, the company posted $4.08 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis.
A number of other research firms also recently issued reports on WCG. Barclays reiterated a “buy” rating and issued a $338.00 price objective on shares of WellCare Health Plans in a report on Friday, September 28th. Evercore ISI assumed coverage on shares of WellCare Health Plans in a report on Tuesday, October 9th. They issued an “outperform” rating and a $365.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of WellCare Health Plans from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, September 5th. Wells Fargo & Co reiterated a “buy” rating on shares of WellCare Health Plans in a report on Wednesday, September 26th. Finally, BMO Capital Markets set a $345.00 price objective on shares of WellCare Health Plans and gave the company a “buy” rating in a report on Friday, September 14th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $301.13.
NYSE WCG opened at $259.10 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 1.32. WellCare Health Plans has a 12-month low of $187.06 and a 12-month high of $324.99. The company has a market capitalization of $12.63 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02.
A number of institutional investors and hedge funds have recently modified their holdings of WCG. Financial Gravity Wealth Inc. increased its holdings in WellCare Health Plans by 3,977.8% during the third quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock worth $107,000 after buying an additional 358 shares during the last quarter. Private Capital Group LLC increased its holdings in WellCare Health Plans by 234.0% during the third quarter. Private Capital Group LLC now owns 334 shares of the company’s stock worth $107,000 after buying an additional 234 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in WellCare Health Plans by 98.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock worth $108,000 after buying an additional 279 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in WellCare Health Plans by 55.2% during the second quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock worth $126,000 after buying an additional 182 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in WellCare Health Plans during the third quarter worth $191,000. Institutional investors and hedge funds own 97.22% of the company’s stock.
About WellCare Health Plans
WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.
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