Asset Management One Co. Ltd. bought a new stake in WellCare Health Plans, Inc. (NYSE:WCG) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 31,900 shares of the company’s stock, valued at approximately $5,452,000. Asset Management One Co. Ltd. owned about 0.07% of WellCare Health Plans as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of WellCare Health Plans in the third quarter valued at approximately $103,000. Advisory Services Network LLC boosted its stake in shares of WellCare Health Plans by 8.4% in the second quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock valued at $155,000 after purchasing an additional 67 shares during the period. Harvest Fund Management Co. Ltd boosted its stake in shares of WellCare Health Plans by 29.3% in the second quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock valued at $237,000 after purchasing an additional 299 shares during the period. Zweig DiMenna Associates LLC acquired a new stake in WellCare Health Plans in the second quarter valued at approximately $287,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in WellCare Health Plans by 12.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,661 shares of the company’s stock worth $298,000 after purchasing an additional 184 shares in the last quarter. 99.74% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on WCG. Mitsubishi UFJ Financial Group began coverage on shares of WellCare Health Plans in a research report on Thursday, September 21st. They issued an “overweight” rating and a $204.00 price objective on the stock. ValuEngine lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Cowen assumed coverage on shares of WellCare Health Plans in a research report on Monday, October 9th. They issued an “outperform” rating and a $200.00 price objective on the stock. Zacks Investment Research lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. Finally, Jefferies Group boosted their target price on shares of WellCare Health Plans from $189.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, October 13th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $210.07.
In other news, Director Carol Burt sold 997 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total transaction of $201,593.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is currently owned by insiders.
WellCare Health Plans, Inc. (NYSE WCG) traded up $0.23 during midday trading on Thursday, hitting $205.89. 326,840 shares of the stock were exchanged, compared to its average volume of 293,605. WellCare Health Plans, Inc. has a one year low of $136.23 and a one year high of $213.97. 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 cap of $9,240.00, a P/E ratio of 25.83, a P/E/G ratio of 1.60 and a beta of 0.82.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, beating the Zacks’ consensus estimate of $1.90 by $2.18. WellCare Health Plans had a net margin of 3.90% and a return on equity of 30.69%. The company 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 company posted $1.63 EPS. The company’s quarterly revenue was up 22.8% compared to the same quarter last year. analysts expect that WellCare Health Plans, Inc. will post 8.38 EPS 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.
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