Stock Traders Purchase High Volume of Call Options on WellCare Health Plans (WCG)

WellCare Health Plans, Inc. (NYSE:WCG) was the recipient of some unusual options trading on Wednesday. Stock traders bought 734 call options on the company. This represents an increase of Infinity compared to the typical daily volume of 0 call options.

In related news, Director Carol Burt sold 997 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the transaction, the chief executive officer now owns 23,627 shares in the company, valued at $4,116,768.48. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

Several institutional investors have recently bought and sold shares of WCG. Capital Research Global Investors purchased a new stake in shares of WellCare Health Plans during the second quarter worth $170,042,000. American Century Companies Inc. increased its position in shares of WellCare Health Plans by 712.9% during the second quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock worth $66,717,000 after acquiring an additional 325,853 shares during the period. Renaissance Technologies LLC increased its position in shares of WellCare Health Plans by 37.7% during the second quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock worth $152,858,000 after acquiring an additional 232,993 shares during the period. Janus Henderson Group PLC purchased a new stake in shares of WellCare Health Plans during the second quarter worth $30,078,000. Finally, FMR LLC increased its position in shares of WellCare Health Plans by 285.7% during the second quarter. FMR LLC now owns 211,664 shares of the company’s stock worth $38,007,000 after acquiring an additional 156,786 shares during the period. 98.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of WellCare Health Plans (NYSE:WCG) opened at $198.00 on Friday. WellCare Health Plans has a 12-month low of $127.82 and a 12-month high of $208.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $8,820.00, a price-to-earnings ratio of 21.66, a PEG ratio of 1.54 and a beta of 0.81.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $2.18. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. The company’s revenue was up 22.8% on a year-over-year basis. research analysts forecast that WellCare Health Plans will post 8.46 EPS for the current fiscal year.

WCG has been the topic of a number of recent analyst reports. BMO Capital Markets started coverage on WellCare Health Plans in a report on Monday, October 16th. They issued an “outperform” rating and a $215.00 price objective on the stock. Cantor Fitzgerald restated a “buy” rating and set a $195.00 price target on shares of WellCare Health Plans in a research note on Saturday, August 26th. Cowen and Company started coverage on WellCare Health Plans in a research note on Monday, October 9th. They set an “outperform” rating and a $200.00 price target on the stock. ValuEngine cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Finally, Jefferies Group LLC upped their price target on WellCare Health Plans from $189.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday, October 13th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $197.00.

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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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