WellCare Health Plans, Inc. (WCG) Shares Sold by Highbridge Capital Management LLC

Highbridge Capital Management LLC decreased its position in WellCare Health Plans, Inc. (NYSE:WCG) by 41.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,614 shares of the company’s stock after selling 10,211 shares during the period. Highbridge Capital Management LLC’s holdings in WellCare Health Plans were worth $2,830,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of WellCare Health Plans by 6.5% in the 1st quarter. BlackRock Inc. now owns 4,551,672 shares of the company’s stock valued at $881,340,000 after buying an additional 279,764 shares during the period. Renaissance Technologies LLC grew its holdings in shares of WellCare Health Plans by 4.4% in the 4th quarter. Renaissance Technologies LLC now owns 1,303,900 shares of the company’s stock valued at $262,227,000 after buying an additional 55,000 shares during the period. American Century Companies Inc. grew its holdings in shares of WellCare Health Plans by 81.4% in the 1st quarter. American Century Companies Inc. now owns 1,038,186 shares of the company’s stock valued at $201,024,000 after buying an additional 465,888 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of WellCare Health Plans by 44.4% in the 4th quarter. Bank of New York Mellon Corp now owns 1,035,902 shares of the company’s stock valued at $208,331,000 after buying an additional 318,631 shares during the period. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of WellCare Health Plans by 29.0% in the 4th quarter. TIAA CREF Investment Management LLC now owns 703,478 shares of the company’s stock valued at $141,476,000 after buying an additional 158,260 shares during the period. 96.74% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on WCG. SunTrust Banks began coverage on shares of WellCare Health Plans in a report on Monday, June 11th. They issued a “buy” rating and a $270.00 price target for the company. Argus began coverage on shares of WellCare Health Plans in a report on Thursday, June 7th. They issued a “buy” rating and a $265.00 price target for the company. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. Morgan Stanley boosted their price target on shares of WellCare Health Plans from $228.00 to $237.00 and gave the company an “equal weight” rating in a report on Wednesday, May 30th. Finally, BMO Capital Markets boosted their price target on shares of WellCare Health Plans from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, May 31st. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $237.44.

WCG opened at $240.47 on Friday. The firm has a market capitalization of $10.68 billion, a P/E ratio of 28.22, a P/E/G ratio of 1.59 and a beta of 0.94. WellCare Health Plans, Inc. has a 12 month low of $162.25 and a 12 month high of $243.71. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, May 1st. The company reported $2.47 EPS for the quarter, beating the consensus estimate of $1.95 by $0.52. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.70 billion. WellCare Health Plans had a net margin of 2.31% and a return on equity of 17.99%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 EPS. equities analysts forecast that WellCare Health Plans, Inc. will post 10.27 EPS for the current year.

WellCare Health Plans Company Profile

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.

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

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