Oregon Public Employees Retirement Fund increased its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,284 shares of the company’s stock after buying an additional 723 shares during the period. Oregon Public Employees Retirement Fund’s holdings in WellCare Health Plans were worth $2,924,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in shares of WellCare Health Plans during the second quarter valued at about $121,000. Advisory Services Network LLC acquired a new stake in WellCare Health Plans during the first quarter valued at approximately $112,000. Creative Planning boosted its stake in WellCare Health Plans by 3.0% in the first 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. Neuberger Berman Group LLC boosted its stake in WellCare Health Plans by 1.1% in the first 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. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in WellCare Health Plans during the first quarter valued at approximately $217,000. 98.77% of the stock is currently owned by institutional investors and hedge funds.
WellCare Health Plans, Inc. (NYSE WCG) opened at 183.49 on Tuesday. The stock’s 50 day moving average price is $179.63 and its 200 day moving average price is $157.57. WellCare Health Plans, Inc. has a 12 month low of $105.16 and a 12 month high of $184.88. The firm has a market capitalization of $8.16 billion, a PE ratio of 30.19 and a beta of 0.85.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Wednesday, May 3rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.19 by $0.42. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.85 billion. WellCare Health Plans had a net margin of 1.85% and a return on equity of 14.75%. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS. Equities research analysts expect that WellCare Health Plans, Inc. will post $6.86 earnings per share for the current fiscal year.
Several analysts recently commented on the company. Bank of America Corporation raised their target price on WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Friday, July 14th. Zacks Investment Research cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Credit Suisse Group restated a “neutral” rating and issued a $163.00 target price (up from $155.00) on shares of WellCare Health Plans in a research report on Thursday, July 13th. Deutsche Bank AG raised their target price on WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $170.00 price target on shares of WellCare Health Plans in a research report on Thursday, June 8th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. WellCare Health Plans presently has an average rating of “Hold” and an average target price of $165.75.
In other WellCare Health Plans news, SVP Yount Michael sold 2,500 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $166.57, for a total transaction of $416,425.00. Following the completion of the sale, the senior vice president now owns 4,804 shares in the company, valued at approximately $800,202.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Robert Polen sold 6,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $169.67, for a total transaction of $1,018,020.00. Following the sale, the executive vice president now owns 12,952 shares of the company’s stock, valued at approximately $2,197,565.84. The disclosure for this sale can be found here. Insiders have sold a total of 24,019 shares of company stock valued at $4,133,066 in the last quarter. Corporate insiders own 0.50% of the company’s stock.
About WellCare Health Plans
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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