Parkwood LLC reduced its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 16.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,577 shares of the company’s stock after selling 724 shares during the period. Parkwood LLC’s holdings in WellCare Health Plans were worth $642,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in shares of WellCare Health Plans during the first quarter worth $112,000. Creative Planning increased 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 worth $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 worth $121,000. 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. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of WellCare Health Plans during the first quarter worth approximately $217,000. 98.71% of the stock is currently owned by institutional investors.
WellCare Health Plans, Inc. (WCG) traded down 1.13% during trading on Thursday, hitting $171.80. 164,167 shares of the company’s stock traded hands. The company’s 50 day moving average is $180.16 and its 200-day moving average is $160.30. The stock has a market cap of $7.65 billion, a P/E ratio of 30.18 and a beta of 0.84. 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 announced its quarterly earnings results on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.29. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the firm posted $2.23 earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, analysts predict that WellCare Health Plans, Inc. will post $6.99 earnings per share for the current year.
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A number of brokerages have recently commented on WCG. Leerink Swann reiterated an “outperform” rating and issued a $225.00 price target (up from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Credit Suisse Group reissued a “neutral” rating and issued a $163.00 price objective (up from $155.00) on shares of WellCare Health Plans in a research report on Thursday, July 13th. Deutsche Bank AG lifted their price objective 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. Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Bank of America Corporation lifted their price objective 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. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $170.09.
In related news, EVP Kelly A. Munson sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $173.71, for a total transaction of $521,130.00. Following the completion of the sale, the executive vice president now directly owns 4,243 shares in the company, valued at $737,051.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew Lynn Asher sold 7,314 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $175.04, for a total transaction of $1,280,242.56. Following the sale, the chief financial officer now owns 13,244 shares of the company’s stock, valued at $2,318,229.76. The disclosure for this sale can be found here. Insiders have sold 12,914 shares of company stock worth $2,255,369 over the last three months. 0.50% of the stock is currently owned by insiders.
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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