Equities analysts expect WellCare Health Plans, Inc. (NYSE:WCG) to announce sales of $6.70 billion for the current fiscal quarter, according to Zacks. Five analysts have made estimates for WellCare Health Plans’ earnings. The highest sales estimate is $6.94 billion and the lowest is $6.37 billion. WellCare Health Plans posted sales of $5.06 billion during the same quarter last year, which would indicate a positive year over year growth rate of 32.4%. The company is scheduled to report its next quarterly earnings results on Tuesday, October 29th.
According to Zacks, analysts expect that WellCare Health Plans will report full year sales of $27.06 billion for the current fiscal year, with estimates ranging from $26.26 billion to $27.77 billion. For the next year, analysts anticipate that the business will report sales of $31.53 billion, with estimates ranging from $30.68 billion to $33.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for WellCare Health Plans.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.16 by $0.15. WellCare Health Plans had a return on equity of 14.95% and a net margin of 2.09%. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $6.63 billion. During the same quarter last year, the firm earned $3.69 EPS. WellCare Health Plans’s quarterly revenue was up 51.1% on a year-over-year basis.
A number of research analysts have commented on the company. Zacks Investment Research downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. BMO Capital Markets downgraded WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 target price on the stock. in a report on Monday, June 3rd. Cantor Fitzgerald downgraded WellCare Health Plans from an “overweight” rating to a “neutral” rating in a report on Tuesday. Wells Fargo & Co reduced their target price on WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Finally, Credit Suisse Group assumed coverage on WellCare Health Plans in a report on Monday, April 15th. They set a “neutral” rating and a $307.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $320.10.
NYSE:WCG traded down $1.12 during trading hours on Friday, reaching $283.27. 730,233 shares of the stock were exchanged, compared to its average volume of 461,165. The company has a quick ratio of 1.28, a current ratio of 1.23 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $288.28. WellCare Health Plans has a 52 week low of $220.63 and a 52 week high of $324.99. The firm has a market cap of $14.45 billion, a PE ratio of 25.68, a P/E/G ratio of 1.42 and a beta of 0.93.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its holdings in shares of WellCare Health Plans by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 22,170 shares of the company’s stock worth $5,980,000 after purchasing an additional 831 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of WellCare Health Plans in the 1st quarter worth approximately $79,297,000. Havens Advisors LLC bought a new stake in shares of WellCare Health Plans in the 1st quarter worth approximately $1,484,000. Lake Point Wealth Management bought a new stake in shares of WellCare Health Plans in the 4th quarter worth approximately $188,000. Finally, Calamos Wealth Management LLC bought a new stake in shares of WellCare Health Plans in the 1st quarter worth approximately $2,780,000. 98.58% of the stock is currently owned by institutional investors and hedge funds.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (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 programs for qualifying families who are not eligible for Medicaid.
Further Reading: Investing in Blue-Chip Stocks
Get a free copy of the Zacks research report on WellCare Health Plans (WCG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for WellCare Health Plans Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans and related companies with MarketBeat.com's FREE daily email newsletter.