Hsbc Holdings PLC reduced its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 32.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 25,899 shares of the company’s stock after selling 12,676 shares during the period. Hsbc Holdings PLC owned approximately 0.05% of WellCare Health Plans worth $6,108,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Wedge Capital Management L L P NC raised its position in WellCare Health Plans by 14.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 138,198 shares of the company’s stock worth $32,627,000 after purchasing an additional 17,862 shares during the period. Arizona State Retirement System raised its position in WellCare Health Plans by 18.0% in the 4th quarter. Arizona State Retirement System now owns 23,310 shares of the company’s stock worth $5,503,000 after purchasing an additional 3,559 shares during the period. Exane Asset Management purchased a new position in WellCare Health Plans in the 4th quarter worth $220,000. Rhumbline Advisers raised its position in WellCare Health Plans by 3.0% in the 3rd quarter. Rhumbline Advisers now owns 101,936 shares of the company’s stock worth $32,669,000 after purchasing an additional 2,976 shares during the period. Finally, Alpine Global Management LLC purchased a new position in WellCare Health Plans in the 3rd quarter worth $2,142,000. 98.49% of the stock is owned by institutional investors.
Shares of NYSE WCG opened at $241.41 on Friday. WellCare Health Plans, Inc. has a 1 year low of $188.32 and a 1 year high of $324.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market cap of $11.91 billion, a P/E ratio of 21.89, a P/E/G ratio of 1.11 and a beta of 1.23.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, February 5th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.08. WellCare Health Plans had a net margin of 2.15% and a return on equity of 15.39%. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same quarter in the previous year, the company earned $0.32 earnings per share. WellCare Health Plans’s quarterly revenue was up 37.5% on a year-over-year basis. As a group, equities analysts predict that WellCare Health Plans, Inc. will post 13.59 EPS for the current fiscal year.
A number of brokerages recently commented on WCG. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Cowen started coverage on shares of WellCare Health Plans in a research report on Thursday, February 28th. They issued an “outperform” rating on the stock. BMO Capital Markets boosted their price objective on shares of WellCare Health Plans to $330.00 and gave the company an “outperform” rating in a research report on Wednesday, February 6th. Stephens started coverage on shares of WellCare Health Plans in a research report on Monday, January 14th. They issued an “overweight” rating and a $276.00 price objective on the stock. Finally, Wolfe Research upgraded shares of WellCare Health Plans from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 3rd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. WellCare Health Plans has a consensus rating of “Buy” and a consensus target price of $306.43.
WellCare Health Plans Profile
WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (PDPs). The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports programs for qualifying families who are not eligible for Medicaid.
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