Brokerages Expect WellCare Health Plans, Inc. (WCG) Will Post Quarterly Sales of $6.54 Billion

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Equities research analysts predict that WellCare Health Plans, Inc. (NYSE:WCG) will post $6.54 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for WellCare Health Plans’ earnings, with the lowest sales estimate coming in at $6.42 billion and the highest estimate coming in at $6.65 billion. WellCare Health Plans posted sales of $4.65 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 40.6%. The company is scheduled to announce its next quarterly earnings results on Tuesday, May 7th.

On average, analysts expect that WellCare Health Plans will report full year sales of $26.37 billion for the current year, with estimates ranging from $26.17 billion to $26.64 billion. For the next financial year, analysts anticipate that the company will report sales of $30.82 billion, with estimates ranging from $28.99 billion to $31.74 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow WellCare Health Plans.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, February 5th. The company reported $1.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.08. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.85 billion. WellCare Health Plans had a return on equity of 15.39% and a net margin of 2.15%. WellCare Health Plans’s revenue for the quarter was up 37.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 EPS.

WCG has been the subject of several analyst reports. ValuEngine upgraded WellCare Health Plans from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Zacks Investment Research reiterated a “buy” rating and issued a $251.00 price objective on shares of WellCare Health Plans in a research report on Monday, December 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $330.00 price objective on shares of WellCare Health Plans in a research report on Monday, December 17th. Cowen started coverage on WellCare Health Plans in a research report on Thursday, February 28th. They issued an “outperform” rating for the company. Finally, Wolfe Research upgraded WellCare Health Plans from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 3rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $306.43.

Shares of WellCare Health Plans stock traded up $4.73 during midday trading on Tuesday, hitting $249.70. 32,727 shares of the company were exchanged, compared to its average volume of 655,785. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market capitalization of $12.00 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 1.12 and a beta of 1.23. WellCare Health Plans has a 52 week low of $188.32 and a 52 week high of $324.99.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WCG. Dupont Capital Management Corp acquired a new position in WellCare Health Plans in the third quarter valued at about $1,940,000. Commonwealth Equity Services LLC lifted its holdings in shares of WellCare Health Plans by 52.8% in the third quarter. Commonwealth Equity Services LLC now owns 2,574 shares of the company’s stock valued at $824,000 after purchasing an additional 889 shares in the last quarter. LSV Asset Management bought a new stake in shares of WellCare Health Plans in the third quarter valued at about $376,000. SG Americas Securities LLC lifted its holdings in shares of WellCare Health Plans by 49.4% in the third quarter. SG Americas Securities LLC now owns 12,316 shares of the company’s stock valued at $3,947,000 after purchasing an additional 4,071 shares in the last quarter. Finally, Advisor Partners LLC bought a new stake in shares of WellCare Health Plans in the third quarter valued at about $230,000. 98.49% of the stock is owned by institutional investors.

About WellCare Health Plans

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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