WellCare Health Plans, Inc. (NYSE:WCG) – Equities research analysts at Svb Leerink lifted their Q1 2019 EPS estimates for shares of WellCare Health Plans in a report issued on Wednesday, February 6th. Svb Leerink analyst A. Gupte now expects that the company will post earnings per share of $3.35 for the quarter, up from their prior forecast of $3.20. Svb Leerink also issued estimates for WellCare Health Plans’ Q2 2019 earnings at $4.34 EPS, Q3 2019 earnings at $4.43 EPS and Q4 2019 earnings at $2.43 EPS.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, February 5th. The company reported $1.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.08. WellCare Health Plans had a net margin of 2.15% and a return on equity of 15.39%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the prior year, the business posted $0.32 earnings per share. WellCare Health Plans’s revenue was up 37.5% compared to the same quarter last year.
WCG has been the subject of several other research reports. BMO Capital Markets upped their price objective on shares of WellCare Health Plans to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, December 13th. Cantor Fitzgerald reissued a “buy” rating and issued a $330.00 target price on shares of WellCare Health Plans in a report on Monday, December 17th. Wolfe Research raised shares of WellCare Health Plans from a “market perform” rating to an “outperform” rating in a report on Thursday, January 3rd. Finally, ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. WellCare Health Plans has a consensus rating of “Buy” and an average target price of $306.43.
WCG opened at $266.05 on Monday. WellCare Health Plans has a twelve month low of $188.32 and a twelve month high of $324.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. The stock has a market cap of $13.87 billion, a P/E ratio of 24.12, a PEG ratio of 1.21 and a beta of 1.21.
In other news, Director H James Dallas acquired 1,171 shares of the stock in a transaction dated Tuesday, December 4th. The stock was bought at an average price of $256.35 per share, with a total value of $300,185.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Robert Polen sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $256.85, for a total value of $770,550.00. The disclosure for this sale can be found here. Insiders sold 7,147 shares of company stock valued at $1,792,477 in the last three months. Company insiders own 0.59% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. increased its stake in shares of WellCare Health Plans by 21.1% in the fourth quarter. Advisor Group Inc. now owns 5,032 shares of the company’s stock valued at $1,188,000 after buying an additional 878 shares during the period. AlphaCrest Capital Management LLC acquired a new position in shares of WellCare Health Plans in the fourth quarter valued at approximately $519,000. Raymond James & Associates increased its stake in shares of WellCare Health Plans by 39.2% in the fourth quarter. Raymond James & Associates now owns 28,115 shares of the company’s stock valued at $6,638,000 after buying an additional 7,915 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in shares of WellCare Health Plans in the fourth quarter valued at approximately $319,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of WellCare Health Plans by 219.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,022 shares of the company’s stock valued at $477,000 after buying an additional 1,389 shares during the period. 98.49% of the stock is owned by 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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