WellCare Health Plans (WCG) Updates FY18 Earnings Guidance

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WellCare Health Plans (NYSE:WCG) issued an update on its FY18 earnings guidance on Monday morning. The company provided earnings per share guidance of $10.90-11.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $11.01. WellCare Health Plans also updated its FY 2018 guidance to $10.90-11.00 EPS.

Shares of WellCare Health Plans stock opened at $230.00 on Wednesday. The company has a market capitalization of $11.85 billion, a P/E ratio of 27.00, a P/E/G ratio of 1.32 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. WellCare Health Plans has a 52 week low of $187.06 and a 52 week high of $324.99.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.09 by $0.24. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. WellCare Health Plans’s revenue was up 14.9% on a year-over-year basis. During the same period last year, the firm posted $4.08 EPS. Analysts expect that WellCare Health Plans will post 10.98 EPS for the current fiscal year.

Several equities analysts recently commented on WCG shares. BMO Capital Markets set a $345.00 price objective on shares of WellCare Health Plans and gave the company a buy rating in a research report on Friday, September 14th. Cantor Fitzgerald increased their price objective on shares of WellCare Health Plans from $292.00 to $330.00 and gave the company an overweight rating in a research report on Monday, September 17th. Morgan Stanley increased their price objective on shares of WellCare Health Plans from $280.00 to $330.00 and gave the company an equal weight rating in a research report on Wednesday, September 5th. Wells Fargo & Co reiterated a buy rating on shares of WellCare Health Plans in a report on Wednesday, September 26th. Finally, Evercore ISI assumed coverage on shares of WellCare Health Plans in a report on Tuesday, October 9th. They issued an outperform rating and a $365.00 price target on the stock. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $303.60.

In other news, Director Richard C. Breon sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $239.96, for a total transaction of $599,900.00. Following the sale, the director now owns 6,406 shares of the company’s stock, valued at approximately $1,537,183.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yount Michael sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $263.38, for a total transaction of $131,690.00. Following the sale, the executive vice president now directly owns 7,044 shares in the company, valued at approximately $1,855,248.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,647 shares of company stock worth $1,924,167. 0.59% of the stock is owned by corporate insiders.

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WellCare Health Plans Company Profile

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare 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 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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