WellCare of Nebraska Offers Unique Programs for Nebraska Families and Children to Get and Stay Healthy

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Leerink Partners Raises Price Target on WellCare Health Plans (WCG) Following 3Q Beat

November 15, 2016 9:13 AM EST

Leerink Partners reiterated an Outperform rating on WellCare Health Plans (NYSE: WCG), and raised the price target to $135.00 (from $115.00), following the company's 3Q earnings report. Adjusted EPS of $1.63 handily beat consensus of $1.11. Revenue of $3.58B modestly beat consensus of $3.52B. The beat was driven primarily by meaningful outperformance in Medicare Advantage and Medicare Part D MLRs offset by a miss in the Medicaid MLR.

Analyst Ana Gupte commented, "We maintain our OP rating on WCG as the mid-singledigit exposure to Obamacare should be offset by a more benign MA... More