Insider Selling: WellCare Health Plans, Inc. (WCG) EVP Sells $770,550.00 in Stock

WellCare Health Plans, Inc. (NYSE:WCG) EVP Michael Robert Polen sold 3,000 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $256.85, for a total transaction of $770,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NYSE:WCG opened at $244.15 on Friday. WellCare Health Plans, Inc. has a 12-month low of $187.06 and a 12-month high of $324.99. The company has a market cap of $12.61 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.51.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.09 by $0.24. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the prior year, the business posted $4.08 EPS. The business’s revenue was up 14.9% compared to the same quarter last year. Equities analysts expect that WellCare Health Plans, Inc. will post 11.01 earnings per share for the current fiscal year.

Several research analysts have weighed in on WCG shares. Morgan Stanley increased their price target on shares of WellCare Health Plans from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, September 5th. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Barclays reissued a “buy” rating and issued a $325.00 price target on shares of WellCare Health Plans in a report on Tuesday, September 18th. Cantor Fitzgerald reissued a “buy” rating and issued a $330.00 price target on shares of WellCare Health Plans in a report on Tuesday, October 30th. Finally, Evercore ISI started coverage on shares of WellCare Health Plans in a report on Tuesday, October 9th. They issued an “outperform” rating and a $365.00 price target on the stock. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $305.20.

Large investors have recently made changes to their positions in the business. CFO4Life Group LLC boosted its position in shares of WellCare Health Plans by 9.3% during the 3rd quarter. CFO4Life Group LLC now owns 2,055 shares of the company’s stock worth $659,000 after acquiring an additional 174 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of WellCare Health Plans by 55.2% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock worth $126,000 after acquiring an additional 182 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of WellCare Health Plans by 1.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 10,794 shares of the company’s stock worth $2,658,000 after acquiring an additional 182 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of WellCare Health Plans by 2.0% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 9,122 shares of the company’s stock worth $2,924,000 after acquiring an additional 183 shares in the last quarter. Finally, People s United Financial Inc. boosted its position in shares of WellCare Health Plans by 10.9% during the 3rd quarter. People s United Financial Inc. now owns 1,971 shares of the company’s stock worth $632,000 after acquiring an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 98.53% of the company’s stock.

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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.

Further Reading: Depreciation

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