Rhumbline Advisers grew its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 11.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 108,573 shares of the company’s stock after purchasing an additional 11,113 shares during the period. Rhumbline Advisers owned approximately 0.24% of WellCare Health Plans worth $18,646,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. grew its position in WellCare Health Plans by 4.3% during the 3rd quarter. Sei Investments Co. now owns 15,225 shares of the company’s stock worth $2,615,000 after acquiring an additional 626 shares during the last quarter. Candriam Luxembourg S.C.A. bought a new stake in WellCare Health Plans during the 3rd quarter worth $515,000. American Century Companies Inc. grew its position in WellCare Health Plans by 60.1% during the 3rd quarter. American Century Companies Inc. now owns 594,925 shares of the company’s stock worth $102,172,000 after acquiring an additional 223,364 shares during the last quarter. Stevens Capital Management LP grew its position in WellCare Health Plans by 58.5% during the 3rd quarter. Stevens Capital Management LP now owns 24,350 shares of the company’s stock worth $4,182,000 after acquiring an additional 8,986 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its holdings in WellCare Health Plans by 426.7% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 124,811 shares of the company’s stock worth $21,435,000 after buying an additional 101,114 shares during the period. Institutional investors own 99.91% of the company’s stock.
WCG has been the topic of several recent research reports. Zacks Investment Research downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $188.00 target price (up from $175.00) on shares of WellCare Health Plans in a report on Wednesday, November 1st. BMO Capital Markets initiated coverage on 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 lifted their target price on 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 raised 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 issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $200.20.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $2.18. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.37 billion. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The firm’s revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 EPS. sell-side analysts predict that WellCare Health Plans, Inc. will post 8.44 earnings per share for the current fiscal year.
In other 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 document filed with the Securities & Exchange Commission, 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 directly owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.
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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.
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