NGAM Advisors L.P. reduced its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 15,428 shares of the company’s stock after selling 253 shares during the period. NGAM Advisors L.P.’s holdings in WellCare Health Plans were worth $2,770,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WCG. Neuberger Berman Group LLC increased its position in shares of WellCare Health Plans by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock worth $216,000 after buying an additional 16 shares during the period. Creative Planning increased its position in shares of WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock worth $121,000 after buying an additional 25 shares during the period. Meeder Asset Management Inc. increased its position in shares of WellCare Health Plans by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 9,779 shares of the company’s stock worth $1,755,000 after buying an additional 63 shares during the period. ARP Americas LLC increased its position in shares of WellCare Health Plans by 2.0% in the first quarter. ARP Americas LLC now owns 3,354 shares of the company’s stock worth $470,000 after buying an additional 67 shares during the period. Finally, Advantus Capital Management Inc increased its position in shares of WellCare Health Plans by 3.1% in the first quarter. Advantus Capital Management Inc now owns 5,672 shares of the company’s stock worth $795,000 after buying an additional 168 shares during the period. 98.71% of the stock is owned by institutional investors and hedge funds.

Shares of WellCare Health Plans, Inc. (NYSE:WCG) opened at 172.03 on Friday. The company’s 50 day moving average is $180.00 and its 200 day moving average is $160.38. WellCare Health Plans, Inc. has a one year low of $109.74 and a one year high of $184.88. The company has a market cap of $7.66 billion, a P/E ratio of 30.22 and a beta of 0.84.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.23 by $0.29. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. On average, equities analysts predict that WellCare Health Plans, Inc. will post $6.99 earnings per share for the current year.

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A number of research analysts have recently commented on WCG shares. Wolfe Research reissued a “market perform” rating on shares of WellCare Health Plans in a research report on Friday, May 5th. Jefferies Group LLC lifted their price objective on shares of WellCare Health Plans from $142.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, May 4th. Leerink Swann reissued an “outperform” rating and issued a $225.00 price objective (up previously from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Deutsche Bank AG lifted their price objective on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Finally, Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $170.09.

In related news, EVP Kelly A. Munson sold 3,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $173.71, for a total transaction of $521,130.00. Following the completion of the transaction, the executive vice president now owns 4,243 shares in the company, valued at $737,051.53. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Andrew Lynn Asher sold 7,314 shares of the 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 owns 13,244 shares of the company’s stock, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,914 shares of company stock valued at $2,255,369. 0.50% of the stock is owned by company 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.

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

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