Jaffetilchin Investment Partners LLC reduced its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 13.2% during the second quarter, Holdings Channel reports. The institutional investor owned 3,658 shares of the company’s stock after selling 558 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in WellCare Health Plans were worth $657,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Dupont Capital Management Corp purchased a new position in shares of WellCare Health Plans during the second quarter valued at about $1,848,000. Advisors Asset Management Inc. boosted its position in shares of WellCare Health Plans by 4.0% in the second quarter. Advisors Asset Management Inc. now owns 10,482 shares of the company’s stock valued at $1,882,000 after buying an additional 399 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of WellCare Health Plans by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 3,551 shares of the company’s stock valued at $638,000 after buying an additional 77 shares in the last quarter. Arizona State Retirement System boosted its position in shares of WellCare Health Plans by 2.2% in the second quarter. Arizona State Retirement System now owns 18,800 shares of the company’s stock valued at $3,376,000 after buying an additional 400 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in WellCare Health Plans by 1.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 363,109 shares of the company’s stock worth $65,200,000 after buying an additional 5,528 shares during the period. 98.85% of the stock is currently owned by institutional investors.

Shares of WellCare Health Plans, Inc. (NYSE:WCG) opened at 174.11 on Wednesday. The company has a 50 day moving average of $179.22 and a 200 day moving average of $161.22. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of 30.59 and a beta of 0.84. WellCare Health Plans, Inc. has a 52-week low of $109.74 and a 52-week high of $184.88.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.23 billion. During the same period last year, the company posted $2.23 EPS. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. Analysts predict that WellCare Health Plans, Inc. will post $6.99 EPS for the current fiscal year.

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WCG has been the topic of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $142.00 price target on shares of WellCare Health Plans in a research note on Wednesday, April 19th. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 price target on the stock in a research note on Monday, May 1st. Wolfe Research reaffirmed a “market perform” rating on shares of WellCare Health Plans in a research note on Friday, May 5th. Morgan Stanley initiated coverage on shares of WellCare Health Plans in a research note on Tuesday, June 6th. They set an “equal weight” rating and a $183.00 price target on the stock. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $225.00 price target (up from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $172.00.

In other WellCare Health Plans news, VP Michael Troy Meyer sold 600 shares of the firm’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $171.86, for a total transaction of $103,116.00. Following the completion of the sale, the vice president now directly owns 73 shares in the company, valued at approximately $12,545.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul E. Weaver sold 2,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $175.44, for a total value of $350,880.00. Following the sale, the director now owns 15,262 shares of the company’s stock, valued at $2,677,565.28. The disclosure for this sale can be found here. Insiders have sold a total of 21,288 shares of company stock valued at $3,695,445 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

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.

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

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