Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,975 shares of the company’s stock after buying an additional 350 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in WellCare Health Plans were worth $1,274,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Burney Co. purchased a new stake in shares of WellCare Health Plans during the 2nd quarter valued at about $431,000. MetLife Investment Advisors LLC raised its holdings in shares of WellCare Health Plans by 1.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 28,129 shares of the company’s stock valued at $6,926,000 after buying an additional 340 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of WellCare Health Plans by 8.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 183,158 shares of the company’s stock valued at $45,101,000 after buying an additional 14,715 shares during the period. Meadow Creek Investment Management LLC raised its holdings in shares of WellCare Health Plans by 1.7% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 46,992 shares of the company’s stock valued at $11,571,000 after buying an additional 792 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of WellCare Health Plans by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 101,936 shares of the company’s stock valued at $32,669,000 after buying an additional 2,976 shares during the period. Institutional investors and hedge funds own 98.53% of the company’s stock.

WCG has been the topic of several analyst reports. Morgan Stanley raised their target price on 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 downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Barclays reiterated a “buy” rating and set a $325.00 target price on shares of WellCare Health Plans in a report on Tuesday, September 18th. Cantor Fitzgerald reiterated a “buy” rating and set a $330.00 target price on shares of WellCare Health Plans in a report on Tuesday, October 30th. Finally, Evercore ISI initiated coverage on WellCare Health Plans in a report on Tuesday, October 9th. They set an “outperform” rating and a $365.00 target price 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 stock. The company currently has an average rating of “Buy” and an average target price of $305.20.

WCG stock opened at $238.85 on Friday. 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, Inc. has a 52-week low of $187.06 and a 52-week high of $324.99. The company has a market cap of $12.61 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.24. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.06 billion. During the same period in the previous year, the business earned $4.08 EPS. WellCare Health Plans’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities analysts forecast that WellCare Health Plans, Inc. will post 11.01 EPS for the current fiscal year.

In other WellCare Health Plans news, EVP Michael Robert Polen sold 3,000 shares of WellCare Health Plans stock in a transaction that occurred on Monday, December 3rd. The stock was 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 SEC, which is available through this link. Also, EVP Yount Michael sold 500 shares of WellCare Health Plans stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $263.38, for a total value of $131,690.00. Following the sale, the executive vice president now owns 7,044 shares in the company, valued at $1,855,248.72. The disclosure for this sale can be found here. Insiders have sold a total of 7,647 shares of company stock worth $1,924,167 over the last 90 days. 0.59% of the stock is owned by company insiders.

TRADEMARK VIOLATION NOTICE: “Connor Clark & Lunn Investment Management Ltd. Has $1.27 Million Position in WellCare Health Plans, Inc. (WCG)” was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another website, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this article can be viewed at https://www.watchlistnews.com/connor-clark-lunn-investment-management-ltd-has-1-27-million-position-in-wellcare-health-plans-inc-wcg/2669662.html.

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.

Featured Article: How to read a candlestick chart

Want to see what other hedge funds are holding WCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WellCare Health Plans, Inc. (NYSE:WCG).

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

Receive News & Ratings for WellCare Health Plans Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans and related companies with MarketBeat.com's FREE daily email newsletter.