Parkwood LLC lowered its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 16.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WCG. Advisory Services Network LLC bought a new position in shares of WellCare Health Plans during the first quarter valued at about $112,000. Creative Planning raised its position 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 bought a new position in shares of WellCare Health Plans during the second quarter valued at about $121,000. Neuberger Berman Group LLC raised 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 valued at $216,000 after buying an additional 16 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of WellCare Health Plans during the first quarter valued at about $217,000. 98.85% of the stock is owned by institutional investors and hedge funds.
Shares of WellCare Health Plans, Inc. (NYSE:WCG) opened at 175.76 on Friday. The company has a 50-day moving average price of $178.93 and a 200-day moving average price of $161.42. WellCare Health Plans, Inc. has a 12 month low of $109.74 and a 12 month high of $184.88. The company has a market capitalization of $7.82 billion, a price-to-earnings ratio of 30.88 and a beta of 0.84.
WellCare Health Plans (NYSE:WCG) last announced its earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating 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 business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter last year, the firm earned $2.23 earnings per share. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities analysts anticipate that WellCare Health Plans, Inc. will post $6.99 EPS for the current year.
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Several research analysts recently issued reports on the company. Wolfe Research reaffirmed a “market perform” rating on shares of WellCare Health Plans in a research report on Monday, May 15th. Zacks Investment Research raised WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a research report on Monday, May 1st. 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. BidaskClub lowered WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC lifted their price objective on WellCare Health Plans from $142.00 to $170.00 and gave the stock a “hold” rating in a research report on Thursday, May 4th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $172.00.
In related news, CFO Andrew Lynn Asher sold 7,314 shares of the firm’s stock in a transaction that occurred on 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 $2,318,229.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael Troy Meyer sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $171.86, for a total transaction of $103,116.00. Following the sale, the vice president now directly owns 73 shares of the company’s stock, valued at approximately $12,545.78. The disclosure for this sale can be found here. Insiders have sold 21,288 shares of company stock valued at $3,695,445 in the last three months. 0.50% of the stock is 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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