Analysts Expect WellCare Health Plans, Inc. (NYSE:WCG) Will Announce Quarterly Sales of $6.63 Billion

Wall Street analysts expect that WellCare Health Plans, Inc. (NYSE:WCG) will report $6.63 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for WellCare Health Plans’ earnings, with the highest sales estimate coming in at $6.91 billion and the lowest estimate coming in at $6.40 billion. WellCare Health Plans reported sales of $4.64 billion in the same quarter last year, which indicates a positive year over year growth rate of 42.9%. The business is scheduled to issue its next quarterly earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that WellCare Health Plans will report full-year sales of $26.77 billion for the current fiscal year, with estimates ranging from $26.18 billion to $27.48 billion. For the next financial year, analysts forecast that the firm will report sales of $31.52 billion, with estimates ranging from $30.35 billion to $33.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow WellCare Health Plans.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, April 30th. The company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.59. WellCare Health Plans had a net margin of 2.17% and a return on equity of 15.47%. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same period last year, the business earned $2.47 earnings per share. The firm’s revenue was up 45.5% on a year-over-year basis.

WCG has been the subject of several analyst reports. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. BMO Capital Markets cut shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 target price for the company. in a research note on Monday, June 3rd. Credit Suisse Group initiated coverage on shares of WellCare Health Plans in a research note on Monday, April 15th. They issued a “neutral” rating and a $307.00 target price for the company. Finally, Wells Fargo & Co decreased their target price on shares of WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $310.07.

Shares of NYSE:WCG traded up $0.09 during midday trading on Tuesday, hitting $287.10. The stock had a trading volume of 353,077 shares, compared to its average volume of 924,900. WellCare Health Plans has a 12 month low of $220.63 and a 12 month high of $324.99. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $14.44 billion, a PE ratio of 26.03, a P/E/G ratio of 1.41 and a beta of 1.02.

A number of hedge funds have recently added to or reduced their stakes in WCG. Clearbridge Investments LLC boosted its position in shares of WellCare Health Plans by 169.4% in the first quarter. Clearbridge Investments LLC now owns 183,623 shares of the company’s stock valued at $49,532,000 after acquiring an additional 115,471 shares during the period. Allstate Corp bought a new stake in shares of WellCare Health Plans in the first quarter valued at about $239,000. Lombard Odier Asset Management USA Corp bought a new stake in shares of WellCare Health Plans in the first quarter valued at about $7,014,000. BlueCrest Capital Management Ltd bought a new stake in shares of WellCare Health Plans in the first quarter valued at about $869,000. Finally, Maverick Capital Ltd. bought a new stake in shares of WellCare Health Plans in the first quarter valued at about $67,438,000. 99.08% of the stock is owned by hedge funds and other institutional investors.

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.

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Earnings History and Estimates for WellCare Health Plans (NYSE:WCG)

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