Wellcare Healthcare Plans Inc. (WCG) soars on resumption of Medicare Advantage drugs
By Mark Moneymaster
November 04, 2009 12:49 PM
November 04, 2009 12:49 PM
WellCare Health Plans Inc. (NYSE: WCG) said on Wednesday that it would start marketing Medicare drug and Medicare Advantage programs in the next few days. It has received approval against most of the government's fraud sanctions, earlier sanctioned on WellCare Health Plans Inc. (WCG).
WellCare Health Plans Inc. (WCG) stock, after opening at a 52 week high around $31.5 with a gap-up opening, however, started slipping in the mid day trades on "sell on news" and shrinked to $28.31.
Meanwhile, WellCare Health Plans Inc. (WCG) reported a profit of $28.7 million in Q3, or 68 cents per share. Excluding one-time costs, profit rose to 82 cents per share. The company took a loss of $18.2 million, or 44 cents per share, a year ago.
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