WellCare Health Plans (NYSE:WCG) posted its quarterly earnings data on Tuesday, April 30th. The company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.59, MarketWatch Earnings reports. WellCare Health Plans had a return on equity of 15.47% and a net margin of 2.17%. The business had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.56 billion. During the same quarter in the previous year, the firm earned $2.47 EPS. The firm’s revenue was up 45.5% compared to the same quarter last year.
WCG traded down $1.62 on Wednesday, hitting $278.03. 593,700 shares of the stock traded hands, compared to its average volume of 1,012,730. WellCare Health Plans has a 52 week low of $216.28 and a 52 week high of $324.99. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $13.82 billion, a price-to-earnings ratio of 25.21, a P/E/G ratio of 1.24 and a beta of 1.19.
Several equities analysts recently weighed in on the company. Wells Fargo & Co cut their price objective on WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Zacks Investment Research cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Credit Suisse Group assumed coverage on WellCare Health Plans in a research report on Monday, April 15th. They set a “neutral” rating and a $307.00 price objective for the company. ValuEngine cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Finally, Cowen assumed coverage on WellCare Health Plans in a research report on Thursday, February 28th. They set an “outperform” rating for the company. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $311.13.
A number of institutional investors and hedge funds have recently modified their holdings of WCG. We Are One Seven LLC bought a new stake in shares of WellCare Health Plans in the 4th quarter valued at approximately $27,000. Trust Co. of Vermont bought a new stake in shares of WellCare Health Plans in the 4th quarter valued at approximately $27,000. Flagship Harbor Advisors LLC grew its stake in shares of WellCare Health Plans by 766.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 104 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the period. Bremer Bank National Association bought a new stake in shares of WellCare Health Plans in the 1st quarter valued at approximately $28,000. Finally, Cornerstone Advisors Inc. grew its position in WellCare Health Plans by 1,425.0% during the 4th quarter. Cornerstone Advisors Inc. now owns 122 shares of the company’s stock worth $29,000 after acquiring an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 98.49% of the company’s stock.
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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