WellCare Health Plans, Inc. (NYSE:WCG) announced its quarterly earnings data on Tuesday. The company reported $4.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $2.18, Bloomberg Earnings reports. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period last year, the company posted $1.63 EPS. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. WellCare Health Plans updated its FY17 guidance to $8.25-8.40 EPS.
A number of equities research analysts have commented on the company. Piper Jaffray Companies restated a “buy” rating and set a $214.00 price objective on shares of WellCare Health Plans in a research report on Wednesday. Wells Fargo & Company restated a “market perform” rating and set a $188.00 price objective (up from $175.00) on shares of WellCare Health Plans in a research report on Wednesday. Jefferies Group LLC raised their price objective on WellCare Health Plans from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday. Mitsubishi UFJ Financial Group assumed coverage on WellCare Health Plans in a research report on Thursday, September 21st. They set an “overweight” rating and a $204.00 price objective for the company. Finally, BidaskClub lowered WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. WellCare Health Plans has a consensus rating of “Hold” and a consensus price target of $186.75.
In related news, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the completion of the transaction, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total value of $1,440,076.78. Following the transaction, the director now directly owns 5,722 shares of the company’s stock, valued at $984,012.34. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
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WellCare Health Plans Company Profile
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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