Legal & General Group Plc lifted its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,970 shares of the company’s stock after buying an additional 1,508 shares during the period. Legal & General Group Plc owned approximately 0.15% of WellCare Health Plans worth $12,581,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of WellCare Health Plans by 98.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock worth $108,000 after buying an additional 279 shares during the last quarter. Mackenzie Financial Corp purchased a new position in shares of WellCare Health Plans in the 4th quarter worth approximately $202,000. Gotham Asset Management LLC purchased a new position in shares of WellCare Health Plans in the 4th quarter worth approximately $202,000. MANA Advisors LLC purchased a new position in shares of WellCare Health Plans in the 1st quarter worth approximately $205,000. Finally, HRT Financial LLC purchased a new position in shares of WellCare Health Plans in the 1st quarter worth approximately $206,000. Hedge funds and other institutional investors own 96.84% of the company’s stock.
Shares of WCG stock opened at $249.69 on Thursday. 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, Inc. has a 1 year low of $162.25 and a 1 year high of $247.94. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, May 1st. The company reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.52. WellCare Health Plans had a net margin of 2.31% and a return on equity of 17.99%. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. sell-side analysts expect that WellCare Health Plans, Inc. will post 10.27 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Leerink Swann boosted their target price on WellCare Health Plans from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 30th. Wells Fargo & Co lifted their price target on shares of WellCare Health Plans from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, May 30th. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. Bank of America raised shares of WellCare Health Plans from a “neutral” rating to a “buy” rating and set a $215.00 price target on the stock in a report on Friday, March 16th. Finally, Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Wednesday, March 14th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $240.35.
WellCare Health Plans 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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