Research Analysts Offer Predictions for WellCare Health Plans Inc.’s Q3 2016 Earnings (WCG)

WellCare Health Plans Inc. (NYSE:WCG) – Investment analysts at Leerink Swann lifted their Q3 2016 earnings per share estimates for shares of WellCare Health Plans in a note issued to investors on Monday. Leerink Swann analyst A. Gupte now anticipates that the firm will post earnings of $1.12 per share for the quarter, up from their prior estimate of $1.08. Leerink Swann has a “Buy” rating on the stock.

Several other equities research analysts have also recently commented on the stock. Credit Suisse Group AG reiterated a “sell” rating and set a $100.00 price target on shares of WellCare Health Plans in a research report on Tuesday, August 30th. Jefferies Group reiterated a “hold” rating and set a $105.00 price target (up previously from $101.00) on shares of WellCare Health Plans in a research report on Monday, August 1st. Cantor Fitzgerald reiterated a “hold” rating and set a $90.00 price target (up previously from $85.00) on shares of WellCare Health Plans in a research report on Friday, June 24th. Wedbush reiterated a “neutral” rating and set a $119.00 price target (down previously from $126.00) on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $115.00 price target on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. WellCare Health Plans currently has an average rating of “Hold” and a consensus price target of $101.30.

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

WellCare Health Plans (NYSE:WCG) traded up 0.67% on Wednesday, reaching $117.03. 102,967 shares of the company’s stock traded hands. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 29.24 and a beta of 1.20. WellCare Health Plans has a 52-week low of $69.16 and a 52-week high of $120.65. The stock’s 50 day moving average is $114.61 and its 200 day moving average is $105.84.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $2.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.83. The firm had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.53 billion. WellCare Health Plans had a net margin of 1.26% and a return on equity of 12.33%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS.

Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of WellCare Health Plans during the third quarter worth approximately $104,000. MSI Financial Services Inc raised its stake in shares of WellCare Health Plans by 40.4% in the third quarter. MSI Financial Services Inc now owns 1,143 shares of the company’s stock worth $134,000 after buying an additional 329 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of WellCare Health Plans by 27.4% in the second quarter. Advisors Asset Management Inc. now owns 1,529 shares of the company’s stock worth $164,000 after buying an additional 329 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of WellCare Health Plans during the second quarter worth approximately $219,000. Finally, MAI Capital Management acquired a new stake in shares of WellCare Health Plans during the second quarter worth approximately $223,000.

In other WellCare Health Plans news, Director Glenn Md Phd Steele, Jr. sold 10,000 shares of WellCare Health Plans stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $114.86, for a total value of $1,148,600.00. Following the transaction, the director now owns 10,852 shares of the company’s stock, valued at $1,246,460.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by company insiders.

WellCare Health Plans Company Profile

WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

5 Day Chart for NYSE:WCG

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