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WellCare Hits 52-Week High on Solid Q3 Results, Revised View

On Nov 25, 2016, shares of WellCare Health Plans Inc. WCG hit a 52-week high of $136.26 driven by strong third-quarter 2016 results. About 0.15 million of shares exchanged hands in the last trading session and the stock finally closed at $134.50, down 1.3%.

Over the past 52 weeks, the stock has gained 62.9% compared with a rise of just 5.6% and 24.04% in the S&P 500 Index and the Zacks-categorized Health Maintenance Organization Industry, respectively.

The stock price appreciation was fueled by the company’s robust quarterly earnings of $1.63per share that surpassed the Zacks Consensus Estimate by 46.8%. The bottom line also improved 63% year over year on operational improvement, especially in the company’s Medicaid Health Plans segment. Revenues beat the Zacks Consensus Estimate by nearly 2% and grew 4.2% year over year to $3.6 billion on higher premiums.

Medicaid Health Plans segment continues to support WellCare. Membership in this segment inched up 1.1% following the acquisition of certain assets from Advicare Corp. in Jun 2016. This led to a 7% increase in premium revenues for this particular segment

In the reported quarter, WellCare’s operating cash inflow soared 251% from the prior-year quarter. The...


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