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WellCare Health Plans Inc (WCG.N)

WCG.N on New York Stock Exchange

139.22USD
24 Mar 2017
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$1.86 (+1.35%)
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Latest Key Developments (Source: Significant Developments)

Wellcare Health expects additional interest expense and financing costs associated with new 5.25% senior unsecured notes due 2025
Thursday, 9 Mar 2017 08:14am EST 

Wellcare Health Plans Inc : Wellcare health plans inc- expects additional interest expense and financing costs associated with new 5.25% senior unsecured notes due 2025 . Wellcare health plans inc- additional expenses do not require co to change 2017 guidance for adjusted earnings per share- sec filing . Wellcare health plans inc - will incur a one-time loss on extinguishment of debt of approximately $0.36 per diluted share . Wellcare health plans inc- one-time charge will be excluded from co's adjusted earnings per diluted share .Wellcare health plans- loss of $0.36per share in connection with redemption, repurchase of outstanding $900 million in principal amount of 5.75% notes due 2020.  Full Article

Wellcare announces pricing of notes
Wednesday, 8 Mar 2017 05:40pm EST 

Wellcare Health Plans Inc : Wellcare announces pricing of notes . Priced $1.2 billion aggregate principal amount of its 5.25 pct senior notes due 2025 . Says notes will be issued at 100.0 pct, and bear interest at 5.25 pct . Wellcare Health Plans says notes mature on April 1, 2025 .First interest payment for notes will be October 1, 2017.  Full Article

Wellcare to offer $1.2 bln in senior notes
Wednesday, 8 Mar 2017 07:30am EST 

Wellcare Health Plans Inc : Wellcare health plans inc - plans to offer approximately $1.2 billion aggregate principal amount of senior notes due 2025 . Wellcare announces offering of notes .Wellcare health plans - to use net proceeds of offering to redeem or repay $900.0 million in outstanding amount of its 5.75% senior notes due 2020.  Full Article

Wellcare Q4 adjusted EPS $1.03
Tuesday, 7 Feb 2017 06:00am EST 

Wellcare Health Plans Inc : Wellcare reports fourth quarter and full-year 2016 results . Reaffirms fy 2017 adjusted earnings per share view $6.00 to $6.25 . Q4 adjusted earnings per share $1.03 . Q4 gaap earnings per share $1.00 . Q4 earnings per share view $0.52 -- Thomson Reuters I/B/E/S . Fy2017 earnings per share view $6.31 -- Thomson Reuters I/B/E/S . Wellcare health plans- membership in medicare health plans segment was 345,000 as of december 31, 2016,increased sequentially from sept 30, 2016 by 7,000 members . Wellcare health plans inc - q4 gaap total premium revenue $3,515.5 million versus $3,493.0 million . Wellcare health plans - membership in co's medicare health plans segment was 345,000 as of dec 31, 2016, and increased sequentially from sept 30, 2016 by 7,000 members . Wellcare health plans inc- medicare health plans premium revenue in q4 of 2016 decreased slightly year over year to $956.0 million . Wellcare health plans - medicare membership declined by 9,000 members compared with dec 31, 2015, primarily as a result of company's 2016 bid positioning . Wellcare health plans inc - sees 2017 total gaap premium revenue $15.225 billion to $15.900 billion . Fy2017 revenue view $15.79 billion -- Thomson Reuters I/B/E/S . Wellcare health plans - membership in co's medicaid health plans segment increased by 156,000, or 6.5 percent, from dec 31, 2015 to about 2.5 million members as of dec 31, 2016.  Full Article

Wellcare to buy Medicaid assets of Phoenix Health Plan in Arizona
Thursday, 22 Dec 2016 07:30am EST 

Wellcare Health Plans Inc : Wellcare to acquire Medicaid assets of Phoenix Health Plan in Arizona . Wellcare Health Plans Inc - financial terms of transaction are not being disclosed .Transaction is expected to be funded with available cash on hand..  Full Article

WellCare Health Plans to buy Universal American for $10/share
Thursday, 17 Nov 2016 07:15am EST 

Universal American Corp : Wellcare to acquire Universal American Corp. . Deal for $10.00 per share of common stock . Transaction is expected to be funded by Wellcare through available cash on hand . Transaction expected to be accretive to Wellcare's earnings . Deal expected to produce $0.70-$0.80 of accretion to Wellcare in second year after closing . Wellcare expects annual synergies of approximately $25 million to $30 million by 2019 from deal . Proposed price for Universal American's common shares implies an equity value of approximately $600 million . Deal is expected to produce $0.60 to $0.70 of accretion to Wellcare's adjusted earnings per share in first year after closing . Acquisition is expected to add about 65,000 MA members in Houston-Beaumont, Texas to Wellcare's medicare health plans membership . With retirement of company's preferred shares and its convertible debt, transaction would be valued at approximately $800 million .Acquisition expected to add about 14,000 MA members in northeast, primarily in New York, to Wellcare's medicare health plans membership.  Full Article

Wellcare Health Plans says looking at increasing business within existing portfolio
Tuesday, 2 Aug 2016 10:39am EDT 

Wellcare Health Plans : Also Looking At And Interested In Acquiring Businesses That Would Open Us Up To New Markets And New States . We're looking at increasing business within existing portfolio; eye on both Medicaid and Medicare opportunities - conf call . Says "we see many opportunities both organic and through m&a opportunities that will fuel our growth " - conf call Further company coverage: [WCG.N] (Bengaluru Newsroom: +1-646-223-8780).  Full Article

Wellcare reports Q2 adjusted EPS $2.23
Tuesday, 2 Aug 2016 06:15am EDT 

Wellcare Health Plans Inc : Q2 adjusted earnings per share $2.23 . Q2 GAAP earnings per share $2.04 . Q2 earnings per share view $1.40 -- Thomson Reuters I/B/E/S . Raises FY 2016 adjusted earnings per share view to $4.95 to $5.05 . Qtrly GAAP total premium revenue $3.6 billion versus $3.4 billion . Medicare health plans premium revenue in Q2 of 2016 decreased slightly year over year to $987.5 million . Membership in medicare PDP segment decreased 33,000, or 3.2 percent year over year, to about 1.0 million members as of June 30 . FY2016 earnings per share view $4.64, revenue view $14.07 billion -- Thomson Reuters I/B/E/S . Medicare health plans segment membership as of June 30, 2016, was 331,000, a decrease of 57,000 members from June 30, 2015 .Membership in medicaid health plans segment increased by 1.3 percent, from June 30, 2015 to about 2.4 million members as of June 30.  Full Article

Wellcare Health Plans Inc increases FY 2016 EPS guidance
Tuesday, 3 May 2016 06:10am EDT 

Wellcare Health Plans Inc:Increases FY 2016 adjusted earnings per diluted share guidance to a range of $4.55 to $4.70.  Full Article

WellCare Health Plans selected for contract to implement Nebraska's Statewide, Integrated Heritage Health Program
Monday, 18 Apr 2016 04:15pm EDT 

WellCare Health Plans:Nebraska Department of Health and Human Services' Division of Medicaid and Long-Term Care has selected WellCare of Nebraska to administer the Heritage Health program.  Full Article

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BRIEF-Harmony Health Plan and Christie Clinic report network coverage agreement

* Harmony Health Plan - co, Christie Clinic announced an agreement that gives in-network coverage to Wellcare's medicare advantage members in illinois