Edgestream Partners L.P. acquired a new stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,559 shares of the company’s stock, valued at approximately $459,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in WCG. Advisory Services Network LLC bought a new stake in WellCare Health Plans during the 1st quarter valued at about $112,000. Creative Planning lifted its holdings in WellCare Health Plans by 3.0% during the 1st quarter. Creative Planning now owns 862 shares of the company’s stock valued at $121,000 after buying an additional 25 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in WellCare Health Plans during the 2nd quarter valued at about $121,000. Eagle Global Advisors LLC bought a new stake in WellCare Health Plans during the 2nd quarter valued at about $211,000. Finally, Neuberger Berman Group LLC lifted its holdings in WellCare Health Plans by 1.1% during the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after buying an additional 16 shares in the last quarter. Institutional investors own 97.78% of the company’s stock.
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Several research firms have recently commented on WCG. Deutsche Bank AG boosted their price target on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Cantor Fitzgerald restated a “buy” rating and issued a $195.00 price target on shares of WellCare Health Plans in a report on Saturday, August 26th. Zacks Investment Research lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Bank of America Corporation boosted their price target on shares of WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a report on Friday, July 14th. Finally, Leerink Swann restated an “outperform” rating and issued a $225.00 price target (up previously from $185.00) on shares of WellCare Health Plans in a report on Thursday, June 22nd. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $176.23.
In other WellCare Health Plans news, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the transaction, the chief executive officer now directly owns 23,627 shares in the company, valued at $4,116,768.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the completion of the transaction, the director now owns 5,722 shares in the company, valued at $984,012.34. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.
WellCare Health Plans, Inc. (NYSE:WCG) opened at 167.16 on Friday. WellCare Health Plans, Inc. has a 12 month low of $112.40 and a 12 month high of $184.88. The stock has a market cap of $7.44 billion, a P/E ratio of 29.37 and a beta of 0.88. The stock has a 50 day moving average of $173.61 and a 200-day moving average of $166.40.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.29. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The firm’s revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.23 earnings per share. On average, equities analysts forecast that WellCare Health Plans, Inc. will post $6.98 EPS for the current fiscal year.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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