WellCare Health Plans, Inc. (WCG) Posts Quarterly Earnings Results, Beats Expectations By $2.18 EPS
WellCare Health Plans, Inc. (NYSE:WCG) released its quarterly earnings results on Monday. The company reported $4.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $2.18, Bloomberg Earnings reports. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.37 billion. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The firm’s revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.63 EPS.
WellCare Health Plans (NYSE:WCG) opened at 181.18 on Tuesday. The firm has a market capitalization of $8.06 billion, a PE ratio of 31.83 and a beta of 0.88. The stock has a 50 day moving average price of $173.36 and a 200-day moving average price of $172.96. WellCare Health Plans has a one year low of $114.41 and a one year high of $186.33.
Several analysts recently weighed in on WCG shares. Morgan Stanley increased their target price on WellCare Health Plans from $183.00 to $184.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 target price for the company in a research note on Friday, August 11th. Cowen and Company started coverage on WellCare Health Plans in a research note on Monday, October 9th. They set an “outperform” rating and a $200.00 target price for the company. ValuEngine downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, BMO Capital Markets started coverage on WellCare Health Plans in a research note on Monday, October 16th. They set an “outperform” rating and a $215.00 target price for the company. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $181.73.
In other WellCare Health Plans news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the completion of the transaction, the director now directly owns 5,722 shares in the company, valued at $984,012.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of the business’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 transaction, the chief executive officer now owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.
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.
Receive News & Ratings for WellCare Health Plans Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.