BNP Paribas Arbitrage SA reduced its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,617 shares of the company’s stock after selling 2,376 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in WellCare Health Plans were worth $2,682,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of WCG. State of Alaska Department of Revenue purchased a new position in shares of WellCare Health Plans in the 2nd quarter valued at $121,000. Advisory Services Network LLC grew its position in WellCare Health Plans by 8.4% during the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after purchasing an additional 67 shares during the last quarter. Eagle Global Advisors LLC purchased a new position in WellCare Health Plans during the 2nd quarter worth $211,000. Harvest Fund Management Co. Ltd grew its position in WellCare Health Plans by 29.3% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock worth $237,000 after purchasing an additional 299 shares during the last quarter. Finally, Ronald Blue & Co. LLC purchased a new stake in shares of WellCare Health Plans in the second quarter valued at about $240,000. Hedge funds and other institutional investors own 99.91% of the company’s stock.
Several brokerages have recently weighed in on WCG. Mitsubishi UFJ Financial Group assumed coverage on shares of WellCare Health Plans in a report on Thursday, September 21st. They issued an “overweight” rating and a $204.00 target price on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $214.00 price objective on shares of WellCare Health Plans in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 target price for the company in a research report on Thursday, November 2nd. Jefferies Group lifted their target price on shares of WellCare Health Plans from $190.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Finally, Wells Fargo & Company reiterated a “market perform” rating and set a $188.00 price target (up from $175.00) on shares of WellCare Health Plans in a report on Wednesday, November 1st. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. WellCare Health Plans presently has an average rating of “Hold” and a consensus price target of $200.20.
Shares of WellCare Health Plans, Inc. (NYSE WCG) traded up $1.60 during trading hours on Thursday, hitting $209.07. 339,302 shares of the company’s stock were exchanged, compared to its average volume of 363,461. The firm has a market capitalization of $9,207.06, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. WellCare Health Plans, Inc. has a 52 week low of $133.21 and a 52 week high of $213.97. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.51.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, topping the consensus estimate 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 net margin of 2.21% and a return on equity of 19.42%. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. 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 stock in a transaction that occurred on Tuesday, November 7th. The shares were 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 the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $174.24, for a total transaction 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 $4,116,768.48. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.
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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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