BNP Paribas Arbitrage SA cut its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 75.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,993 shares of the company’s stock after selling 54,008 shares during the period. BNP Paribas Arbitrage SA’s holdings in WellCare Health Plans were worth $3,231,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of WellCare Health Plans by 7,347.7% in the first quarter. BlackRock Inc. now owns 4,195,120 shares of the company’s stock valued at $588,199,000 after buying an additional 4,138,792 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of WellCare Health Plans by 157.2% in the first quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock valued at $86,692,000 after buying an additional 377,900 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of WellCare Health Plans by 18.8% in the first quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock valued at $296,455,000 after buying an additional 334,095 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of WellCare Health Plans by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock valued at $621,956,000 after buying an additional 231,890 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of WellCare Health Plans during the first quarter valued at about $15,123,000. Institutional investors and hedge funds own 97.81% of the company’s stock.

Shares of WellCare Health Plans, Inc. (WCG) opened at 168.22 on Tuesday. The firm has a market capitalization of $7.49 billion, a PE ratio of 29.55 and a beta of 0.84. WellCare Health Plans, Inc. has a 1-year low of $109.74 and a 1-year high of $184.88. The firm has a 50-day moving average price of $177.50 and a 200-day moving average price of $162.45.

WellCare Health Plans (NYSE:WCG) last issued its earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.29. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same period in the previous year, the business earned $2.23 EPS. The firm’s revenue was up 19.8% on a year-over-year basis. On average, analysts forecast that WellCare Health Plans, Inc. will post $6.98 EPS for the current fiscal year.

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Several analysts have recently issued reports on WCG shares. Deutsche Bank AG increased their price objective on WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Zacks Investment Research cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Bank of America Corporation increased their price objective on WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a research note on Friday, July 14th. Wolfe Research reiterated a “market perform” rating on shares of WellCare Health Plans in a research note on Friday, May 5th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $225.00 price objective (up from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $173.92.

In related news, Director Paul E. Weaver sold 2,000 shares of WellCare Health Plans stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $175.44, for a total transaction of $350,880.00. Following the completion of the transaction, the director now directly owns 15,262 shares of the company’s stock, valued at approximately $2,677,565.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew Lynn Asher sold 7,314 shares of WellCare Health Plans stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $175.04, for a total transaction of $1,280,242.56. Following the transaction, the chief financial officer now directly owns 13,244 shares of the company’s stock, valued at $2,318,229.76. The disclosure for this sale can be found here. Insiders have sold a total of 20,688 shares of company stock valued at $3,592,329 over the last three months. 0.50% of the stock is currently owned by insiders.

About WellCare Health Plans

WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

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

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