Chartwell Investment Partners LLC lowered its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 67.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,580 shares of the company’s stock after selling 11,760 shares during the period. Chartwell Investment Partners LLC’s holdings in WellCare Health Plans were worth $1,002,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Wright Investors Service Inc. boosted its position in WellCare Health Plans by 78.2% in the first quarter. Wright Investors Service Inc. now owns 5,595 shares of the company’s stock worth $784,000 after buying an additional 2,455 shares during the last quarter. Adams Diversified Equity Fund Inc. boosted its position in WellCare Health Plans by 3.3% in the first quarter. Adams Diversified Equity Fund Inc. now owns 9,300 shares of the company’s stock worth $1,304,000 after buying an additional 300 shares during the last quarter. Wells Fargo & Company MN boosted its position in WellCare Health Plans by 45.1% in the first quarter. Wells Fargo & Company MN now owns 78,410 shares of the company’s stock worth $10,994,000 after buying an additional 24,362 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in WellCare Health Plans by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 15,561 shares of the company’s stock worth $2,182,000 after buying an additional 200 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. acquired a new position in WellCare Health Plans during the first quarter worth about $7,478,000. Institutional investors own 98.85% of the company’s stock.
Shares of WellCare Health Plans, Inc. (NYSE:WCG) opened at 169.54 on Friday. The company’s 50 day moving average price is $177.81 and its 200-day moving average price is $162.30. WellCare Health Plans, Inc. has a 52 week low of $109.74 and a 52 week high of $184.88. The stock has a market capitalization of $7.55 billion, a PE ratio of 29.79 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 consensus estimate of $2.23 by $0.29. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.23 billion. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The company’s revenue was up 19.8% on a year-over-year basis. During the same period last year, the firm earned $2.23 earnings per share. Equities research analysts predict that WellCare Health Plans, Inc. will post $6.99 EPS for the current year.
A number of research firms recently issued reports on WCG. Leerink Swann restated an “outperform” rating and set a $225.00 price objective (up previously from $185.00) on shares of WellCare Health Plans in a report on Thursday, June 22nd. Credit Suisse Group restated a “neutral” rating and set a $163.00 price objective (up previously from $155.00) on shares of WellCare Health Plans in a report on Thursday, July 13th. Deutsche Bank AG boosted their price objective on WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research cut WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, Bank of America Corporation boosted their price objective on WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a report on Friday, July 14th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $172.00.
In other news, EVP Kelly A. Munson sold 3,000 shares of the 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 transaction, the executive vice president now owns 4,243 shares of the company’s stock, valued at $737,051.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul E. Weaver sold 2,000 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $175.44, for a total transaction of $350,880.00. Following the transaction, the director now directly owns 15,262 shares in the company, valued at approximately $2,677,565.28. The disclosure for this sale can be found here. Insiders have sold 20,688 shares of company stock valued at $3,592,329 over the last 90 days. 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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