Equities research analysts expect that WellCare Health Plans, Inc. (NYSE:WCG) will announce sales of $6.61 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for WellCare Health Plans’ earnings, with the lowest sales estimate coming in at $6.40 billion and the highest estimate coming in at $6.91 billion. WellCare Health Plans posted sales of $4.64 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 42.5%. The company is expected to announce its next quarterly earnings report before the market opens on Tuesday, July 30th.

According to Zacks, analysts expect that WellCare Health Plans will report full year sales of $26.64 billion for the current financial year, with estimates ranging from $26.18 billion to $27.48 billion. For the next year, analysts anticipate that the business will post sales of $31.31 billion, with estimates ranging from $30.68 billion to $33.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover WellCare Health Plans.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $3.69 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period last year, the firm earned $2.47 earnings per share. The company’s quarterly revenue was up 45.5% on a year-over-year basis.

A number of research firms have recently issued reports on WCG. Zacks Investment Research downgraded shares of Genprex from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Cantor Fitzgerald downgraded shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research note on Tuesday. Wells Fargo & Co reiterated a “hold” rating and set a $11.00 price objective on shares of Coty in a research note on Wednesday, May 8th. BMO Capital Markets set a C$106.00 price objective on shares of FirstService and gave the company a “market perform” rating in a research note on Monday, June 3rd. Finally, Credit Suisse Group increased their price objective on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $315.33.

Institutional investors and hedge funds have recently made changes to their positions in the business. Flagship Harbor Advisors LLC boosted its stake in WellCare Health Plans by 766.7% in the first quarter. Flagship Harbor Advisors LLC now owns 104 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares in the last quarter. Bremer Bank National Association acquired a new stake in shares of WellCare Health Plans during the first quarter worth $28,000. Icon Wealth Partners LLC acquired a new stake in shares of WellCare Health Plans during the first quarter worth $30,000. Berman Capital Advisors LLC lifted its stake in shares of WellCare Health Plans by 165.3% during the second quarter. Berman Capital Advisors LLC now owns 130 shares of the company’s stock worth $37,000 after buying an additional 81 shares during the period. Finally, Financial Gravity Wealth Inc. lifted its stake in shares of WellCare Health Plans by 4,633.3% during the second quarter. Financial Gravity Wealth Inc. now owns 142 shares of the company’s stock worth $40,000 after buying an additional 139 shares during the period. Institutional investors own 98.58% of the company’s stock.

Shares of NYSE WCG traded down $1.78 during midday trading on Friday, reaching $291.70. 62,630 shares of the company’s stock traded hands, compared to its average volume of 437,693. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s 50 day moving average is $288.31. WellCare Health Plans has a one year low of $220.63 and a one year high of $324.99. The stock has a market cap of $14.65 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 1.44 and a beta of 0.99.

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.

Featured Article: Trading Strategy Examples and Plans

Get a free copy of the Zacks research report on WellCare Health Plans (WCG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for WellCare Health Plans Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans and related companies with MarketBeat.com's FREE daily email newsletter.