WellCare Health Plans, Inc. (WCG) Expected to Announce Quarterly Sales of $4.32 Billion
Equities research analysts predict that WellCare Health Plans, Inc. (NYSE:WCG) will post $4.32 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for WellCare Health Plans’ earnings, with estimates ranging from $4.25 billion to $4.40 billion. WellCare Health Plans reported sales of $3.52 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 22.7%. The business is scheduled to report its next earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that WellCare Health Plans will report full year sales of $4.32 billion for the current financial year, with estimates ranging from $16.75 billion to $17.06 billion. For the next fiscal year, analysts anticipate that the company will post sales of $18.85 billion per share, with estimates ranging from $17.23 billion to $19.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow WellCare Health Plans.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $2.18. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the previous year, the firm earned $1.63 earnings per share. WellCare Health Plans’s quarterly revenue was up 22.8% compared to the same quarter last year.
A number of equities analysts have commented on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $214.00 target price on shares of WellCare Health Plans in a research note on Wednesday, November 1st. Morgan Stanley lifted their target price on shares of WellCare Health Plans from $183.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 target price on the stock in a research note on Thursday, November 2nd. Wells Fargo & Company reaffirmed a “market perform” rating and set a $188.00 target price (up from $175.00) on shares of WellCare Health Plans in a research note on Wednesday, November 1st. Finally, Jefferies Group LLC lifted their target price on shares of WellCare Health Plans from $190.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, November 1st. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $195.27.
In related news, CEO Kenneth A. Burdick sold 8,500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the sale, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Carol Burt sold 997 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total transaction of $201,593.40. The disclosure for this sale can be found here. 0.47% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in WCG. Capital Research Global Investors purchased a new stake in WellCare Health Plans during the 2nd quarter worth approximately $170,042,000. American Century Companies Inc. increased its stake in WellCare Health Plans by 712.9% during the 2nd quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock worth $66,717,000 after buying an additional 325,853 shares during the period. Renaissance Technologies LLC increased its stake in WellCare Health Plans by 37.7% during the 2nd quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock worth $152,858,000 after buying an additional 232,993 shares during the period. Janus Henderson Group PLC purchased a new stake in WellCare Health Plans during the 2nd quarter worth approximately $30,078,000. Finally, FMR LLC grew its holdings in WellCare Health Plans by 285.7% during the 2nd quarter. FMR LLC now owns 211,664 shares of the company’s stock worth $38,007,000 after acquiring an additional 156,786 shares in the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WellCare Health Plans (WCG) traded down $0.11 during mid-day trading on Friday, reaching $200.55. 218,300 shares of the company’s stock were exchanged, compared to its average volume of 435,145. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. WellCare Health Plans has a one year low of $119.69 and a one year high of $208.89. The stock has a market capitalization of $8,928.89, a P/E ratio of 21.70, a PEG ratio of 1.54 and a beta of 0.81.
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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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