Breton Hill Capital Ltd. decreased its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,749 shares of the company’s stock after selling 1,348 shares during the period. Breton Hill Capital Ltd.’s holdings in WellCare Health Plans were worth $2,289,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its position in shares of WellCare Health Plans by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock worth $216,000 after buying an additional 16 shares during the last quarter. Creative Planning raised its stake in WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock worth $121,000 after buying an additional 25 shares during the period. Meeder Asset Management Inc. raised its stake in WellCare Health Plans by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 9,779 shares of the company’s stock worth $1,755,000 after buying an additional 63 shares during the period. ARP Americas LLC raised its stake in WellCare Health Plans by 2.0% in the first quarter. ARP Americas LLC now owns 3,354 shares of the company’s stock worth $470,000 after buying an additional 67 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in WellCare Health Plans by 4.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,875 shares of the company’s stock worth $257,000 after buying an additional 83 shares during the period. Institutional investors own 98.77% of the company’s stock.
WellCare Health Plans, Inc. (WCG) traded up 0.32% during trading on Wednesday, reaching $181.12. The company had a trading volume of 109,215 shares. WellCare Health Plans, Inc. has a one year low of $105.16 and a one year high of $184.88. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 29.80 and a beta of 0.86. The company has a 50-day moving average price of $179.63 and a 200 day moving average price of $157.57.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.42. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.85 billion. WellCare Health Plans had a net margin of 1.85% and a return on equity of 14.75%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted $1.06 EPS. Analysts expect that WellCare Health Plans, Inc. will post $6.86 earnings per share for the current year.
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A number of equities research analysts recently commented on WCG shares. Jefferies Group LLC restated a “hold” rating and set a $142.00 price target on shares of WellCare Health Plans in a research report on Wednesday, April 19th. Morgan Stanley started coverage on WellCare Health Plans in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $183.00 price target on the stock. Deutsche Bank AG increased their price target on WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Leerink Swann restated an “outperform” rating and set a $225.00 price target (up from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Finally, Bank of America Corporation increased their price target on WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a research report on Friday, July 14th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus 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 stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $166.57, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Andrew Lynn Asher sold 7,314 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $175.04, for a total transaction of $1,280,242.56. Following the completion of the sale, the chief financial officer now owns 13,244 shares of the company’s stock, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,019 shares of company stock valued at $4,133,066. Company insiders own 0.50% of the company’s stock.
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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