PointState Capital LP Acquires Shares of 6,500 WellCare Health Plans, Inc. (WCG)

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PointState Capital LP acquired a new position in WellCare Health Plans, Inc. (NYSE:WCG) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 6,500 shares of the company’s stock, valued at approximately $2,083,000.

Other hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in shares of WellCare Health Plans during the second quarter valued at approximately $252,000. Commonwealth Equity Services LLC bought a new stake in shares of WellCare Health Plans during the second quarter valued at approximately $415,000. Smith Asset Management Group LP bought a new stake in shares of WellCare Health Plans during the second quarter valued at approximately $45,200,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of WellCare Health Plans during the second quarter valued at approximately $893,000. Finally, Sei Investments Co. boosted its position in shares of WellCare Health Plans by 49.2% during the second quarter. Sei Investments Co. now owns 33,348 shares of the company’s stock valued at $8,211,000 after purchasing an additional 10,991 shares in the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.

Several equities research analysts recently weighed in on the company. Barclays restated a “buy” rating and set a $325.00 price target on shares of WellCare Health Plans in a research report on Tuesday, September 18th. Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday. Argus lifted their price target on WellCare Health Plans from $265.00 to $360.00 and gave the company a “buy” rating in a research report on Friday, August 31st. Morgan Stanley lifted their price target on WellCare Health Plans from $330.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 12th. Finally, ValuEngine lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. WellCare Health Plans currently has a consensus rating of “Buy” and an average target price of $303.60.

In other WellCare Health Plans news, Director Richard C. Breon sold 2,500 shares of WellCare Health Plans stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $239.96, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director H James Dallas acquired 1,171 shares of the stock in a transaction on Tuesday, December 4th. The shares were bought at an average price of $256.35 per share, with a total value of $300,185.85. The disclosure for this purchase can be found here. Insiders have sold 7,647 shares of company stock valued at $1,924,167 in the last quarter. 0.59% of the stock is owned by company insiders.

Shares of NYSE:WCG opened at $237.03 on Friday. The firm has a market cap of $11.85 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 1.32 and a beta of 1.18. WellCare Health Plans, Inc. has a 12-month low of $187.06 and a 12-month high of $324.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.32.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.24. The business had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.06 billion. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.08 earnings per share. As a group, research analysts anticipate that WellCare Health Plans, Inc. will post 11.01 EPS for the current year.

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WellCare Health Plans Company Profile

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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Want to see what other hedge funds are holding WCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WellCare Health Plans, Inc. (NYSE:WCG).

Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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