Jefferies Group Comments on WellCare Health Plans, Inc.’s FY2017 Earnings (WCG)

WellCare Health Plans, Inc. (NYSE:WCG) – Stock analysts at Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of WellCare Health Plans in a research note issued to investors on Tuesday. Jefferies Group analyst D. Windley now anticipates that the brokerage will earn $6.22 per share for the year, up from their prior estimate of $6.18. Jefferies Group currently has a “Hold” rating and a $142.00 target price on the stock. Jefferies Group also issued estimates for WellCare Health Plans’ Q4 2017 earnings at $0.79 EPS and FY2018 earnings at $7.13 EPS.

Several other equities analysts have also recently issued reports on the company. Leerink Swann lifted their price objective on WellCare Health Plans from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Jaffray Companies lifted their price objective on WellCare Health Plans from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays PLC lifted their price objective on WellCare Health Plans from $146.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday. Cantor Fitzgerald reaffirmed a “hold” rating on shares of WellCare Health Plans in a report on Tuesday. Finally, J P Morgan Chase & Co cut WellCare Health Plans from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $123.83.

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

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WellCare Health Plans (NYSE:WCG) opened at 142.55 on Thursday. WellCare Health Plans has a 52 week low of $81.14 and a 52 week high of $151.93. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 26.25 and a beta of 1.00. The stock has a 50 day moving average price of $142.98 and a 200 day moving average price of $125.81.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $1.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.51. WellCare Health Plans had a return on equity of 14.01% and a net margin of 1.70%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the prior year, the company posted $0.64 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis.

In other news, Director Paul E. Weaver sold 3,000 shares of the business’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of $128.83, for a total value of $386,490.00. Following the completion of the transaction, the director now directly owns 15,892 shares of the company’s stock, valued at $2,047,366.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

WARNING: “Jefferies Group Comments on WellCare Health Plans, Inc.’s FY2017 Earnings (WCG)” was posted by sleekmoney and is owned by of sleekmoney. If you are accessing this article on another site, it was illegally copied and reposted in violation of U.S. and international copyright law. The correct version of this article can be viewed at http://sleekmoney.com/jefferies-group-comments-on-wellcare-health-plans-inc-s-fy2017-earnings-wcg/1655829.html.

Institutional investors have recently added to or reduced their stakes in the company. First Citizens Bank & Trust Co. acquired a new stake in shares of WellCare Health Plans during the second quarter worth approximately $235,000. Laurion Capital Management LP acquired a new stake in shares of WellCare Health Plans during the second quarter worth approximately $9,923,000. Voloridge Investment Management LLC acquired a new stake in shares of WellCare Health Plans during the second quarter worth approximately $2,934,000. Paloma Partners Management Co increased its stake in shares of WellCare Health Plans by 538.6% in the second quarter. Paloma Partners Management Co now owns 116,868 shares of the company’s stock worth $12,538,000 after buying an additional 98,566 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its stake in shares of WellCare Health Plans by 982.7% in the second quarter. Cubist Systematic Strategies LLC now owns 62,785 shares of the company’s stock worth $6,736,000 after buying an additional 56,986 shares in the last quarter.

About WellCare Health Plans

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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