Exane Asset Management acquired a new stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the fourth quarter, Holdings Channel reports. The firm acquired 931 shares of the company’s stock, valued at approximately $220,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its position in WellCare Health Plans by 1.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,794 shares of the company’s stock worth $2,658,000 after purchasing an additional 182 shares during the last quarter. Bank of New York Mellon Corp raised its position in WellCare Health Plans by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,077,020 shares of the company’s stock worth $265,204,000 after purchasing an additional 21,813 shares during the last quarter. State of Alaska Department of Revenue raised its position in WellCare Health Plans by 70.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 11,480 shares of the company’s stock worth $3,677,000 after purchasing an additional 4,734 shares during the last quarter. World Asset Management Inc raised its position in WellCare Health Plans by 22.5% in the 3rd quarter. World Asset Management Inc now owns 3,491 shares of the company’s stock worth $1,119,000 after purchasing an additional 642 shares during the last quarter. Finally, Bank of Montreal Can raised its position in WellCare Health Plans by 53.1% in the 3rd quarter. Bank of Montreal Can now owns 195,364 shares of the company’s stock worth $62,612,000 after purchasing an additional 67,754 shares during the last quarter. 98.55% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on WCG. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, December 13th. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Thursday, January 24th. BMO Capital Markets lifted their target price on shares of WellCare Health Plans to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, February 6th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $330.00 target price on shares of WellCare Health Plans in a report on Monday, December 17th. Finally, Stephens assumed coverage on shares of WellCare Health Plans in a report on Monday, January 14th. They set an “overweight” rating and a $276.00 target price for the company. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $306.43.
Shares of NYSE WCG opened at $277.39 on Monday. The firm has a market capitalization of $13.87 billion, a P/E ratio of 25.15, a P/E/G ratio of 1.21 and a beta of 1.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.32. WellCare Health Plans, Inc. has a 1-year low of $187.06 and a 1-year high of $324.99.
WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, February 5th. The company reported $1.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.08. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.85 billion. WellCare Health Plans had a net margin of 2.15% and a return on equity of 15.39%. The company’s revenue for the quarter was up 37.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.32 EPS. Sell-side analysts expect that WellCare Health Plans, Inc. will post 13.62 earnings per share for the current year.
In related news, EVP Anat Hakim sold 1,647 shares of the company’s stock in a transaction on Friday, November 30th. The shares were sold at an average price of $256.24, for a total value of $422,027.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard C. Breon sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $239.96, for a total transaction of $599,900.00. Following the completion of the transaction, the director now directly 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 ninety days, insiders sold 7,147 shares of company stock valued at $1,792,477. Company insiders own 0.59% of the company’s stock.
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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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