WellCare Health Plans (WCG) Releases Earnings Results, Beats Expectations By $0.36 EPS

WellCare Health Plans (WCG) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $1.06 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.36. Analysts had a consensus of $0.70. The company posted revenue of $3540.50 million in the period, compared to analysts expectations of $3484.72 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on WellCare Health Plans. Company shares were Upgraded by JP Morgan on Feb 22, 2016 to ” Overweight”, Firm has raised the Price Target to $ 114 from a previous price target of $80 .WellCare Health Plans was Upgraded by BofA/Merrill to ” Neutral” on Feb 22, 2016.

WellCare Health Plans closed down -0.13 points or -0.14% at $89.86 with 7,63,654 shares getting traded on Monday. Post opening the session at $90.79, the shares hit an intraday low of $88.555 and an intraday high of $91.815 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Mar 7, 2016, Kevin F Hickey (director) sold 4,023 shares at $93.00 per share price. According to the SEC, on Nov 25, 2015, Andrew Lynn Asher (CFO) purchased 4,000 shares at $80.70 per share price. On Sep 14, 2015, Blair Williams Todt (Chief Legal and Admin. Officer) sold 1,000 shares at $96.00 per share price, according to the Form-4 filing with the securities and exchange commission.

WellCare Health Plans Inc. (WellCare) is a managed care company for government-sponsored health care coverage with a focus on Medicaid and Medicare programs. The Company offers a range of managed care health plans for families children and the aged blind and disabled as well as prescription drug plans. The Company operates in three segments: Medicaid Health Plans Medicare Health Plans and Medicare Prescription Drug Plans (PDPs). It operates Medicaid health plans in Florida Georgia Hawaii Illinois Kentucky Missouri New Jersey New York and South Carolina. In addition it offers Medicare Advantage (MA) coordinated care plans (CCPs) in certain counties in Arizona Arkansas California Connecticut Florida Georgia Hawaii Illinois Kentucky Louisiana Mississippi Missouri New Jersey New York Ohio South Carolina Tennessee and Texas. It also offers stand-alone Medicare PDPs in 49 states and the District of Columbia.

WellCare Health Plans

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