Janney Montgomery Scott LLC acquired a new position in shares of WellCare Health Plans, Inc. (NYSE:WCG) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,022 shares of the company’s stock, valued at approximately $252,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in WellCare Health Plans by 6.5% in the first quarter. BlackRock Inc. now owns 4,551,672 shares of the company’s stock valued at $881,340,000 after acquiring an additional 279,764 shares during the last quarter. Acadian Asset Management LLC lifted its position in WellCare Health Plans by 3.6% in the second quarter. Acadian Asset Management LLC now owns 1,652,077 shares of the company’s stock valued at $406,808,000 after acquiring an additional 56,649 shares during the last quarter. American Century Companies Inc. lifted its position in WellCare Health Plans by 81.4% in the first quarter. American Century Companies Inc. now owns 1,038,186 shares of the company’s stock valued at $201,024,000 after acquiring an additional 465,888 shares during the last quarter. Millennium Management LLC lifted its position in WellCare Health Plans by 52.2% in the first quarter. Millennium Management LLC now owns 603,298 shares of the company’s stock valued at $116,817,000 after acquiring an additional 206,969 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in WellCare Health Plans by 3.2% in the first quarter. Russell Investments Group Ltd. now owns 410,410 shares of the company’s stock valued at $79,438,000 after acquiring an additional 12,813 shares during the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

NYSE WCG opened at $294.02 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $12.84 billion, a price-to-earnings ratio of 34.51, a price-to-earnings-growth ratio of 1.78 and a beta of 0.96. WellCare Health Plans, Inc. has a one year low of $162.25 and a one year high of $297.09.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, July 31st. The company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.66. The company had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.65 billion. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. WellCare Health Plans’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.52 earnings per share. equities analysts anticipate that WellCare Health Plans, Inc. will post 10.88 earnings per share for the current year.

A number of equities research analysts recently weighed in on WCG shares. SunTrust Banks started coverage on shares of WellCare Health Plans in a research report on Monday, June 11th. They issued a “buy” rating and a $270.00 price target for the company. Argus started coverage on shares of WellCare Health Plans in a research report on Thursday, June 7th. They issued a “buy” rating and a $265.00 price target for the company. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. Bank of America boosted their price target on shares of WellCare Health Plans from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Tuesday, July 24th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of WellCare Health Plans in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. WellCare Health Plans currently has a consensus rating of “Buy” and an average target price of $267.94.

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

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