Chartwell Investment Partners LLC Acquires 1,805 Shares of WellCare Health Plans, Inc. (NYSE:WCG)

Chartwell Investment Partners LLC boosted its position in WellCare Health Plans, Inc. (NYSE:WCG) by 32.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,385 shares of the company’s stock after acquiring an additional 1,805 shares during the period. Chartwell Investment Partners LLC’s holdings in WellCare Health Plans were worth $1,268,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in WCG. BlackRock Inc. boosted its holdings in shares of WellCare Health Plans by 1.6% in the 2nd quarter. BlackRock Inc. now owns 4,260,559 shares of the company’s stock valued at $765,026,000 after purchasing an additional 65,439 shares during the last quarter. Capital Research Global Investors acquired a new position in shares of WellCare Health Plans in the 2nd quarter valued at $170,042,000. Renaissance Technologies LLC boosted its holdings in shares of WellCare Health Plans by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock valued at $152,858,000 after purchasing an additional 232,993 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of WellCare Health Plans by 60.1% in the 3rd quarter. American Century Companies Inc. now owns 594,925 shares of the company’s stock valued at $102,172,000 after purchasing an additional 223,364 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of WellCare Health Plans by 4.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 564,259 shares of the company’s stock valued at $101,318,000 after acquiring an additional 22,383 shares in the last quarter. 99.91% of the stock is owned by hedge funds and other institutional investors.

In other news, 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 sale, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carol Burt sold 997 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total transaction of $201,593.40. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Several equities analysts recently weighed in on WCG shares. Zacks Investment Research lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Wells Fargo & Company restated a “market perform” rating and set a $188.00 target price (up previously from $175.00) on shares of WellCare Health Plans in a report on Wednesday, November 1st. BMO Capital Markets assumed coverage on shares of WellCare Health Plans in a report on Monday, October 16th. They set an “outperform” rating and a $215.00 target price on the stock. Morgan Stanley boosted their price objective on shares of WellCare Health Plans from $184.00 to $212.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Finally, ValuEngine upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $200.20.

Shares of WellCare Health Plans, Inc. (NYSE WCG) traded up $3.57 during trading hours on Wednesday, hitting $206.80. 366,300 shares of the company were exchanged, compared to its average volume of 363,044. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. WellCare Health Plans, Inc. has a twelve month low of $133.21 and a twelve month high of $213.97. The company has a market cap of $9,048.12, a P/E ratio of 22.00, a PEG ratio of 1.57 and a beta of 0.82.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $2.18. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. The company’s revenue for the quarter was up 22.8% compared to the same quarter last year. analysts expect that WellCare Health Plans, Inc. will post 8.44 earnings per share for the current fiscal year.

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WellCare Health Plans 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.

Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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