Latest Update on Healthcare Stock: WellCare Health Plans, Inc. (NYSE: WCG)
On Wednesday, WellCare Health Plans, Inc. (NYSE: WCG) stock price moved up at 0.19%. Its total market capitalization is $15323869992. Its day lowest price was $302.45 and its hit its day highest price at $306.13. The stock recent volume is 487,069 shares in comparison to its average trading volume of 667201 shares. Looking at the stock’s price level on the past 52-week graph, WCG recorded a 52-week high of $306.13 and its 52-week low of $220.63.
WellCare Health Plans, Inc. (WCG) recently stated results for the quarter ended September 30, 2019. As determined under generally accepted accounting principles (GAAP), net income for the third quarter of 2019 was $241.0M, or $4.74 per diluted share. Adjusted net income for the third quarter of 2019 was $279.8M, or $5.50 per diluted share.
Key Highlights
- GAAP and adjusted net income margin of 3.4 percent and 3.9 percent, respectively, for the third quarter of 2019 increased about 80 basis points and 60 basis points, respectively, contrast with the third quarter of 2018.
- GAAP and adjusted total revenue of $7.1B and $7.1B, respectively, for the third quarter of 2019 increased 41.2 percent and 43.4 percent, respectively, contrast with the third quarter of 2018.
- GAAP and adjusted Medicaid Health Plans revenue of $4.9B and $4.8B, respectively, for the third quarter of 2019 increased 51.3 percent and 55.2 percent, respectively, contrast with the third quarter of 2018.
- Medicare Health Plans revenue of $1.8B for the third quarter of 2019 increased 16.4 percent contrast with the third quarter of 2018.
- Medicare PDP revenue of $241.2M for the third quarter of 2019 increased 32.3 percent contrast with the third quarter of 2018.
- Medicare PDP membership was about 1.7M as of September 30, 2019, and increased by about 641,000 members, or 60.7 percent, contrast with September 30, 2018.
- GAAP and adjusted SG&A ratios for the third quarter of 2019 reduced about 70 basis points and 90 basis points, respectively, contrast with the third quarter of 2018.
- In the third quarter of 2019, WellCare incurred $9.2M pre-tax, or ($0.14) per adjusted diluted share, in startup costs associated with the North Carolina statewide Medicaid contract implementation. These startup costs are included in adjusted EPS.
- WellCare’s 2020 PDP offers are below the benchmark in 32 of 34 CMS regions, and within the de minimis range in two other regions when combining the results of WellCare’s two basic plans.
2019 Financial Outlook
Due to the pending merger with Centene, WellCare is not presently providing updated financial guidance.
Analyst recommendation for this stock stands at 2.60. The short ratio in the company’s stock is documented at 6.51 and the short float is around of 7.13%. The average true range of the stock is observed at 5.46 and the relative strength index of the stock is recorded at 70.58. The volatility in the previous week has experienced by 1.81% and observed of 1.90% in the previous month.95.40% ownership is held by institutional investors while insiders hold ownership of 0.40%.

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I am Vivian Moore, I have done my bachelor’s in English literature, and further on I did my master’s in Medicines. My most preferred genre of writing is health and biotech. I have been writing from the past 6 years about articles, web content, and blogs. In my career and education, I like to play along with work. I have also been a teacher in the past for 2 years. I use to teach business and technical writing in a very famous university. However, most recently I am working as an instructor, designer, and training writer. I enjoy socializing a lot. I am a very big extrovert when it comes to nature. A part of all this I enjoy exploring the world and traveling makes me happy.