Saturday, May 7, 2011

WellCare Profit More Than Triples

Saturday, May 7, 2011

WellCare Health PlansInc.'s first-quarter earnings surged as the Medicaid and Medicare managed-care company reported increased membership and as the portion of premiums used to cover medical costs declined.

The results beat analysts' expectations.

WellCare raised its 2011 per-share earnings forecast to $3.35 and $3.65 from its February estimate of $2.45 and $2.70. The company cited a favorable development of prior years' medical benefits payable recorded in the ...

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