Analysts forecast that WellCare Health Plans, Inc. (NYSE:WCG) will report $6.82 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for WellCare Health Plans’ earnings. The highest sales estimate is $7.00 billion and the lowest is $6.37 billion. WellCare Health Plans posted sales of $5.06 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 34.8%. The firm is scheduled to issue its next earnings report on Tuesday, October 29th.

According to Zacks, analysts expect that WellCare Health Plans will report full-year sales of $27.29 billion for the current fiscal year, with estimates ranging from $26.26 billion to $27.95 billion. For the next financial year, analysts expect that the company will post sales of $31.76 billion, with estimates ranging from $30.68 billion to $33.18 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow WellCare Health Plans.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Tuesday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.16 by $0.15. The firm had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.63 billion. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The firm’s quarterly revenue was up 51.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.69 EPS.

Several equities research analysts have recently weighed in on WCG shares. Stephens downgraded shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $330.00 to $317.00 in a research report on Monday. BMO Capital Markets downgraded 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 report on Monday, June 3rd. Finally, Cantor Fitzgerald downgraded shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. WellCare Health Plans has an average rating of “Hold” and an average price target of $316.50.

Shares of WCG traded up $2.49 during midday trading on Tuesday, hitting $268.12. The company had a trading volume of 11,291 shares, compared to its average volume of 345,743. The company’s 50 day moving average price is $275.63 and its 200 day moving average price is $272.26. The stock has a market cap of $13.79 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 1.35 and a beta of 0.95. WellCare Health Plans has a 52 week low of $220.63 and a 52 week high of $324.99. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.45.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bremer Bank National Association acquired a new position in shares of WellCare Health Plans in the 1st quarter valued at about $28,000. Icon Wealth Partners LLC acquired a new position in WellCare Health Plans during the 1st quarter valued at about $30,000. Meeder Asset Management Inc. acquired a new position in WellCare Health Plans during the 2nd quarter valued at about $33,000. Berman Capital Advisors LLC boosted its stake in WellCare Health Plans by 165.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 130 shares of the company’s stock valued at $37,000 after purchasing an additional 81 shares during the period. Finally, Financial Gravity Wealth Inc. boosted its stake in WellCare Health Plans by 4,633.3% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 142 shares of the company’s stock valued at $40,000 after purchasing an additional 139 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.

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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