WellCare Health Plans, Inc. (NYSE:WCG) Expected to Post Quarterly Sales of $6.63 Billion

Wall Street analysts forecast that WellCare Health Plans, Inc. (NYSE:WCG) will report $6.63 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for WellCare Health Plans’ earnings, with the highest sales estimate coming in at $6.91 billion and the lowest estimate coming in at $6.40 billion. WellCare Health Plans posted sales of $4.64 billion during the same quarter last year, which would indicate a positive year over year growth rate of 42.9%. The business is scheduled to announce its next quarterly earnings results on Tuesday, July 30th.

On average, analysts expect that WellCare Health Plans will report full year sales of $26.77 billion for the current fiscal year, with estimates ranging from $26.18 billion to $27.48 billion. For the next financial year, analysts expect that the business will post sales of $31.52 billion, with estimates ranging from $30.35 billion to $33.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for WellCare Health Plans.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, April 30th. The company reported $3.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.10 by $0.59. WellCare Health Plans had a net margin of 2.17% and a return on equity of 15.47%. The business had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.56 billion. During the same quarter in the previous year, the firm posted $2.47 earnings per share. WellCare Health Plans’s revenue was up 45.5% compared to the same quarter last year.

A number of equities analysts recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of WellCare Health Plans in a research report on Monday, April 15th. They set a “neutral” rating and a $307.00 target price on the stock. BMO Capital Markets lowered shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 target price on the stock. in a research report on Monday, June 3rd. Zacks Investment Research lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Wells Fargo & Co dropped their target price on shares of WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Finally, Cowen assumed coverage on shares of WellCare Health Plans in a research report on Thursday, February 28th. They set an “outperform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. WellCare Health Plans currently has a consensus rating of “Buy” and a consensus target price of $310.07.

A number of institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of WellCare Health Plans by 118.1% in the 4th quarter. FMR LLC now owns 2,876,051 shares of the company’s stock valued at $679,007,000 after purchasing an additional 1,557,652 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of WellCare Health Plans by 26.1% in the 3rd quarter. Vanguard Group Inc now owns 5,602,927 shares of the company’s stock valued at $1,795,681,000 after purchasing an additional 1,159,497 shares in the last quarter. Viking Global Investors LP boosted its stake in shares of WellCare Health Plans by 135.6% in the 1st quarter. Viking Global Investors LP now owns 1,320,404 shares of the company’s stock valued at $356,179,000 after purchasing an additional 759,986 shares in the last quarter. Carmignac Gestion acquired a new stake in shares of WellCare Health Plans in the 4th quarter valued at $168,192,000. Finally, Norges Bank acquired a new stake in shares of WellCare Health Plans in the 4th quarter valued at $147,415,000. 99.08% of the stock is currently owned by hedge funds and other institutional investors.

WCG stock traded down $0.33 on Tuesday, reaching $286.68. 7,390 shares of the company were exchanged, compared to its average volume of 959,311. WellCare Health Plans has a 12 month low of $220.63 and a 12 month high of $324.99. The firm has a market capitalization of $14.42 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.41 and a beta of 1.02. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.48.

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

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