Last $64.34 USD
Change Today -2.01 / -3.03%
Volume 556.4K
As of 8:04 PM 09/12/14 All times are local (Market data is delayed by at least 15 minutes).

wellcare health plans inc (WCG) Snapshot

Open
$66.65
Previous Close
$66.35
Day High
$66.67
Day Low
$63.99
52 Week High
05/27/14 - $78.37
52 Week Low
02/12/14 - $55.16
Market Cap
2.8B
Average Volume 10 Days
435.7K
EPS TTM
$3.65
Shares Outstanding
43.9M
EX-Date
--
P/E TM
17.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for WELLCARE HEALTH PLANS INC (WCG)

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wellcare health plans inc (WCG) Details

WellCare Health Plans, Inc. provides managed care services for government-sponsored health care programs in the United States. It operates in three segments: Medicaid, MA, and PDP. The company offers Medicaid plans, including plans for beneficiaries of Temporary Assistance for Needy Families (TANF) programs; Supplemental Security Income (SSI) programs; and Aged Blind and Disabled (ABD) programs; and other state-based programs, such as Children’s Health Insurance Program and Family Health Plus programs for qualifying families who are not eligible for Medicaid. The TANF program provides assistance to low-income families with children; and ABD and SSI programs provide assistance to low-income aged, blind, or disabled individuals. It also provides Medicare, a federal health insurance program; Medicare Advantage, a Medicare’s managed care alternative to original Medicare that provides individuals standard Medicare benefits directly through Centers for Medicare & Medicaid Services; and coordinated care plans, which are administered through health maintenance organizations and require members to seek health care services and select a primary care physician from a network of health care providers. In addition, the company provides prescription drug plans comprising Medicare Part D program that offers national in-network prescription drug coverage to Medicare-eligible beneficiaries. As of December 31, 2013, it served approximately 2.8 million members. WellCare Health Plans, Inc. was founded in 1985 and is headquartered in Tampa, Florida.

5,200 Employees
Last Reported Date: 02/14/14
Founded in 1985

wellcare health plans inc (WCG) Top Compensated Officers

Chairman of The Board and Chief Executive Off...
Total Annual Compensation: $246.2K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $500.0K
Senior Vice President, General Counsel and Se...
Total Annual Compensation: $396.2K
Chief Strategy & Development Officer and Seni...
Total Annual Compensation: $396.2K
Chief Human Resources Officer and Senior Vice...
Total Annual Compensation: $321.2K
Compensation as of Fiscal Year 2013.

wellcare health plans inc (WCG) Key Developments

WellCare Health Plans, Inc. to Appoint Andrew Asher as Senior Vice President, Effective Aug. 29, 2014

WellCare Health Plans, Inc announced that Andrew (Drew) Asher will join the company as senior vice president, effective on August 29. The company anticipates that Asher will be appointed as Chief Financial Officer (CFO)by the board of directors effective in November after the third quarter financial reporting process is completed. Until that time, Tom Tran will remain as CFO and will assist with Asher's transition. Asher will report to Dave Gallitano, chairman of the board and CEO. Asher is presently the CFO of Aetna's Local and Regional Businesses, a position he has held since May 2013 when his former employer, Coventry Health Care, was acquired by Aetna.

Wellcare Health Plans, Inc. and National Committee for Quality Assurance Partner to Provide Discount to Georgia Health Care Practices Seeking Patient-Centered Medical Home Recognition

WellCare Health Plans, Inc. and the National Committee for Quality Assurance (NCQA) have partnered to provide a discount to health care practices in Georgia that seek recognition as an NCQA Patient-Centered Medical Home (PCMH).

WellCare Health Plans, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revised Earnings Guidance for the Fiscal Year Ending December 31, 2014; Record Impairment Charges for the Second Quarter of 2014

WellCare Health Plans, Inc. announced earnings results for the second quarter and six months ended June 30, 2014. The company reported a second quarter of 2014 net loss of $7.5 million, or $0.17 per diluted share, compared with net income of $46.9 million, or $1.07 per diluted share, for the second quarter of 2013. The adjusted (non-GAAP) net loss for the second quarter of 2014 was $3.1 million, or $0.07 per diluted share, compared with adjusted net income of $59.2 million, or $1.35 per diluted share, for the second quarter of 2013. The decrease in adjusted net loss per diluted share resulted primarily from reduced gross margin rates in all three of the company's segments and the impairment and other non-operating charges, primarily related to Easy Choice. These unfavorable variances were offset in part by higher revenues and a lower administrative expense ratio, as well as the increase in the Windsor bargain purchase gain. Net cash used in operating activities was $246.6 million for the six months ended June 30, 2014, compared with net cash used in operating activities of $48.6 million for the six months ended June 30, 2013. The increase in cash used resulted primarily from the timing of the receipt of certain premium payments. The company is updating its outlook for adjusted net income per diluted share for the year ending December 31, 2014. At this time, the company expects adjusted net income per diluted share to be between $2.20 and $2.50. The company's previous guidance for adjusted net income was for a range between $4.40 and $4.75 per diluted share. The primary factors affecting the change in the company's full year outlook are as follows: the company's participation in the Florida MMA program commenced May 1, 2014, with the implementation of three regions. Three additional regions were implemented in June and one in July. WellCare's final region will be implemented in August. Based on the company's experience to date with MMA members' utilization of services, medical benefits expense now is forecast to be higher than previously expected. The increased medical expense negatively impacted the year 2014 outlook by approximately $73 to $80 million, or $1.05 to $1.15 per diluted share, as compared with the prior guidance. Consistent with past implementation of new programs, WellCare is pursuing improvements to care management and increased reimbursement in order to enhance the financial performance of the MMA program. Interest expense is anticipated to be approximately $39 million. The effective income tax rate is expected to be between 53% and 54%. The company recorded charges of $24.1 million, or $0.35 per diluted share, in the second quarter of 2014 to primarily reflect the impairment of certain intangible assets associated with the company's 2012 acquisition of Easy Choice Health Plan, Inc.

 

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WCG

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Valuation WCG Industry Range
Price/Earnings 19.8x
Price/Sales 0.3x
Price/Book 1.8x
Price/Cash Flow 14.4x
TEV/Sales 0.1x
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