WellCare Health Plans, Inc. (NYSE:WCG) managed-care services provider’s earnings for the quarter dropped 57%due to weak results from its Georgia and Kentucky Medicaid programs.
Whereas company also disclosed plans to acquire UnitedHealthCare Group Inc.'s (UNH).
The matter is subject to regulatory approvals, and WellCare forestalls that the transaction will close through the fourth quarter of 2012.
Company’s CEO said that this procurement offers the company promising growth opportunity in the striking South Carolina government programs market, and is well-aligned with compnay’s multi-product strategy.
WellCare Health Plans, Inc. (NYSE:WCG) traded with volume of 3.71 million shares in last session which was unexpectedly higher versus average trading capacity of 466,975 shares. The stock traded with opening bell at $51.68, gained the maximum price level of $52.26 and then finished the day at $47.60 by decreasing -13.81%.
WCG remained successful in generating revenue of $6.75 billion in the trailing twelve months and made net income of $270.99 million. The Company maintained a positive 4.02% for the net profit margin and in its operating margin it scored 6.32%. Company’s yearly revenue change for the last five years was 10.93%.
The WCG’s price to sales ratio is 0.30 and price to cash ratio is 1.78 for the past 12 months. As far as the returns from the company is concerned, return on assets remained as 10.94%.
The stock showed downbeat performance of -11.64% for the week which was maintained for the month at -15.83%. The negative performance for the trailing 3 months was recorded as -26.57% and in last year was -3.62% while the performance so far in current year remains at -9.33%.
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