Breton Hill Capital Ltd. reduced its position in WellCare Health Plans, Inc. (NYSE:WCG) by 9.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor 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 large investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in shares of WellCare Health Plans during the first quarter valued at about $112,000. Creative Planning raised its stake in shares of 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. State of Alaska Department of Revenue acquired a new stake in shares of WellCare Health Plans during the second quarter valued at about $121,000. Neuberger Berman Group LLC raised its stake 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 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 shares of WellCare Health Plans during the first quarter valued at about $217,000. 98.74% of the stock is owned by institutional investors and hedge funds.
Shares of WellCare Health Plans, Inc. (NYSE:WCG) traded down 5.10% during trading on Friday, reaching $173.21. The company’s stock had a trading volume of 646,320 shares. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 28.50 and a beta of 0.84. The company has a 50 day moving average of $180.02 and a 200-day moving average of $159.17. WellCare Health Plans, Inc. has a 12-month low of $109.74 and a 12-month high of $184.88.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.29. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a return on equity of 14.75% and a net margin of 1.85%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.23 earnings per share. Analysts forecast that WellCare Health Plans, Inc. will post $6.86 EPS for the current year.
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Several brokerages recently weighed in on WCG. Jefferies Group LLC restated a “hold” rating and issued a $170.00 target price on shares of WellCare Health Plans in a research note on Thursday, June 8th. Wolfe Research reiterated a “market perform” rating on shares of WellCare Health Plans in a research report on Friday, May 5th. BidaskClub downgraded WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Leerink Swann reiterated an “outperform” rating and set a $225.00 price target (up previously from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $170.00.
In other WellCare Health Plans news, Director Carol Burt sold 1,805 shares of the stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $170.09, for a total value of $307,012.45. Following the completion of the transaction, the director now directly owns 8,447 shares of the company’s stock, valued at $1,436,750.23. The sale was disclosed in a filing 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 transaction, the chief financial officer now directly owns 13,244 shares of the company’s stock, valued at $2,318,229.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,519 shares of company stock worth $2,698,621. Corporate 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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