State Treasurer State of Michigan decreased its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,300 shares of the company’s stock after selling 600 shares during the period. State Treasurer State of Michigan’s holdings in WellCare Health Plans were worth $3,376,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in WCG. Advisors Asset Management Inc. increased its stake in shares of WellCare Health Plans by 1.7% in the second quarter. Advisors Asset Management Inc. now owns 10,794 shares of the company’s stock valued at $2,658,000 after buying an additional 182 shares during the period. Bank of New York Mellon Corp increased its stake in shares of WellCare Health Plans by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 1,077,020 shares of the company’s stock valued at $265,204,000 after buying an additional 21,813 shares during the period. State of Alaska Department of Revenue increased its stake in shares of WellCare Health Plans by 70.2% in the third quarter. State of Alaska Department of Revenue now owns 11,480 shares of the company’s stock valued at $3,677,000 after buying an additional 4,734 shares during the period. World Asset Management Inc increased its stake in shares of WellCare Health Plans by 22.5% in the third quarter. World Asset Management Inc now owns 3,491 shares of the company’s stock valued at $1,119,000 after buying an additional 642 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of WellCare Health Plans by 53.1% in the third quarter. Bank of Montreal Can now owns 195,364 shares of the company’s stock valued at $62,612,000 after buying an additional 67,754 shares during the period. 98.49% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Michael Robert Polen sold 3,000 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $256.85, for a total value of $770,550.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard C. Breon sold 2,500 shares of the stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $239.96, for a total value of $599,900.00. Following the completion of the transaction, the director now owns 6,406 shares in the company, valued at $1,537,183.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,147 shares of company stock worth $1,792,477. 0.59% of the stock is owned by company insiders.
Shares of WellCare Health Plans stock traded down $5.70 on Monday, reaching $271.69. 7,865 shares of the company’s stock were exchanged, compared to its average volume of 610,019. The stock has a market capitalization of $13.87 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 1.21 and a beta of 1.21. WellCare Health Plans, Inc. has a 52 week low of $187.06 and a 52 week high of $324.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.32 and a current ratio of 1.36.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Tuesday, February 5th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.08. WellCare Health Plans had a return on equity of 15.39% and a net margin of 2.15%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. During the same period in the prior year, the business earned $0.32 EPS. The company’s revenue for the quarter was up 37.5% compared to the same quarter last year. On average, equities research analysts forecast that WellCare Health Plans, Inc. will post 13.62 EPS for the current year.
Several research analysts have recently issued reports on the company. ValuEngine raised WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. BMO Capital Markets upped their target price on WellCare Health Plans to $330.00 and gave the company an “outperform” rating in a report on Wednesday, February 6th. Cantor Fitzgerald reiterated a “buy” rating and issued a $330.00 target price on shares of WellCare Health Plans in a report on Tuesday, October 30th. Zacks Investment Research cut WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Thursday, December 13th. Finally, Stephens assumed coverage on WellCare Health Plans in a report on Monday, January 14th. They issued an “overweight” rating and a $276.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $306.43.
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About WellCare Health Plans
WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare 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 for qualifying families who are not eligible for Medicaid.
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