Investors Sell Shares of WellCare Health Plans (WCG) on Strength (WCG)

Investors sold shares of WellCare Health Plans, Inc. (NYSE:WCG) on strength during trading on Monday. $67.03 million flowed into the stock on the tick-up and $118.63 million flowed out of the stock on the tick-down, for a money net flow of $51.60 million out of the stock. Of all companies tracked, WellCare Health Plans had the 7th highest net out-flow for the day. WellCare Health Plans traded up $3.13 for the day and closed at $250.55

A number of equities analysts have weighed in on the company. Barclays restated a “buy” rating and issued a $338.00 price target on shares of WellCare Health Plans in a report on Friday, September 28th. Evercore ISI assumed coverage on WellCare Health Plans in a report on Tuesday, October 9th. They issued an “outperform” rating and a $365.00 price target for the company. Wells Fargo & Co restated a “buy” rating on shares of WellCare Health Plans in a report on Wednesday, September 26th. Cantor Fitzgerald upped their price target on WellCare Health Plans from $292.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Finally, Stephens assumed coverage on WellCare Health Plans in a report on Monday. They issued an “overweight” rating and a $276.00 price target for the company. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $303.67.

The company has a market cap of $12.21 billion, a P/E ratio of 29.41, a P/E/G ratio of 1.07 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, October 30th. The company reported $3.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.09 by $0.24. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.06 billion. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The business’s revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $4.08 EPS. On average, analysts expect that WellCare Health Plans, Inc. will post 10.98 EPS for the current year.

In other news, EVP Yount Michael sold 500 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $263.38, for a total transaction of $131,690.00. Following the completion of the transaction, the executive vice president now directly owns 7,044 shares in the company, valued at approximately $1,855,248.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard C. Breon sold 2,500 shares of the stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $239.96, for a total value of $599,900.00. Following the transaction, the director now owns 6,406 shares of the company’s stock, valued at $1,537,183.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,647 shares of company stock valued at $1,924,167. Company insiders own 0.59% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of WellCare Health Plans by 26.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,602,927 shares of the company’s stock valued at $1,795,681,000 after acquiring an additional 1,159,497 shares in the last quarter. Vanguard Group Inc raised its position in shares of WellCare Health Plans by 26.1% during the 3rd quarter. Vanguard Group Inc now owns 5,602,927 shares of the company’s stock valued at $1,795,681,000 after acquiring an additional 1,159,497 shares in the last quarter. FMR LLC raised its position in shares of WellCare Health Plans by 267.8% during the 3rd quarter. FMR LLC now owns 1,318,399 shares of the company’s stock valued at $422,534,000 after acquiring an additional 959,928 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of WellCare Health Plans by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,077,020 shares of the company’s stock valued at $265,204,000 after acquiring an additional 21,813 shares in the last quarter. Finally, Man Group plc raised its position in shares of WellCare Health Plans by 35.0% during the 3rd quarter. Man Group plc now owns 423,937 shares of the company’s stock valued at $135,867,000 after acquiring an additional 109,804 shares in the last quarter. Institutional investors own 98.30% of the company’s stock.

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About WellCare Health Plans (NYSE:WCG)

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: Debt-To-Equity Ratio

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