SunTrust Banks Research Analysts Raise Earnings Estimates for WellCare Health Plans, Inc. (WCG)
WellCare Health Plans, Inc. (NYSE:WCG) – Research analysts at SunTrust Banks increased their FY2018 earnings estimates for WellCare Health Plans in a research note issued on Monday, November 12th. SunTrust Banks analyst D. Macdonald now forecasts that the company will earn $10.98 per share for the year, up from their previous forecast of $10.84. SunTrust Banks currently has a “Buy” rating and a $315.00 target price on the stock. SunTrust Banks also issued estimates for WellCare Health Plans’ Q1 2019 earnings at $3.22 EPS, Q2 2019 earnings at $4.09 EPS, Q3 2019 earnings at $3.95 EPS, Q4 2019 earnings at $2.04 EPS and FY2019 earnings at $13.30 EPS.
WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.24. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.06 billion. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $4.08 earnings per share.
WellCare Health Plans stock opened at $258.84 on Wednesday. The company has a market capitalization of $13.36 billion, a PE ratio of 27.25, a PEG ratio of 1.49 and a beta of 1.23. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.51. WellCare Health Plans has a fifty-two week low of $187.06 and a fifty-two week high of $324.99.
In related news, EVP Yount Michael sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $263.38, for a total transaction of $131,690.00. Following the transaction, the executive vice president now directly owns 7,044 shares of the company’s stock, valued at $1,855,248.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.59% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in WCG. Financial Gravity Wealth Inc. grew its position in WellCare Health Plans by 3,977.8% in the third quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock worth $107,000 after acquiring an additional 358 shares in the last quarter. Private Capital Group LLC lifted its stake in shares of WellCare Health Plans by 234.0% in 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. Chicago Partners Investment Group LLC lifted its stake in shares of WellCare Health Plans by 100.0% in the third quarter. Chicago Partners Investment Group LLC now owns 400 shares of the company’s stock worth $117,000 after buying an additional 200 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its stake in shares of WellCare Health Plans by 55.2% in 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 stake in shares of WellCare Health Plans in the third quarter worth $191,000. 87.21% of the stock is currently owned by hedge funds and other institutional investors.
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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