Panagora Asset Management Inc. lowered its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 88.1% during the second quarter, HoldingsChannel.com reports. The firm owned 4,417 shares of the company’s stock after selling 32,764 shares during the period. Panagora Asset Management Inc.’s holdings in WellCare Health Plans were worth $1,259,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Magnus Financial Group LLC increased its stake in shares of WellCare Health Plans by 4.3% in the 2nd quarter. Magnus Financial Group LLC now owns 954 shares of the company’s stock valued at $272,000 after acquiring an additional 39 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of WellCare Health Plans by 1.3% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,150 shares of the company’s stock valued at $850,000 after buying an additional 40 shares in the last quarter. World Asset Management Inc raised its stake in WellCare Health Plans by 1.6% during the 2nd quarter. World Asset Management Inc now owns 3,635 shares of the company’s stock worth $1,036,000 after buying an additional 58 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in WellCare Health Plans by 0.8% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 7,596 shares of the company’s stock worth $2,049,000 after buying an additional 62 shares during the period. Finally, Great Lakes Advisors LLC lifted its holdings in WellCare Health Plans by 4.0% during the first quarter. Great Lakes Advisors LLC now owns 1,856 shares of the company’s stock worth $501,000 after acquiring an additional 71 shares in the last quarter. 93.04% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on WCG shares. BMO Capital Markets downgraded WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 price target for the company. in a research report on Monday, June 3rd. Stephens cut shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $330.00 to $317.00 in a research note on Monday. Finally, Cantor Fitzgerald lowered shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $320.22.

WellCare Health Plans stock traded down $1.68 during mid-day trading on Wednesday, hitting $272.44. 4,993 shares of the stock were exchanged, compared to its average volume of 344,953. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.45. WellCare Health Plans, Inc. has a 12 month low of $220.63 and a 12 month high of $324.99. The firm’s fifty day simple moving average is $275.89 and its two-hundred day simple moving average is $272.28. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 1.33 and a beta of 0.95.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $4.31 EPS for the quarter, beating the Zacks’ consensus estimate of $4.16 by $0.15. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The company had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same period in the prior year, the firm posted $3.69 EPS. The company’s quarterly revenue was up 51.1% on a year-over-year basis. As a group, analysts forecast that WellCare Health Plans, Inc. will post 13.91 earnings per share for the current fiscal year.

WellCare Health Plans Profile

WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (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 programs 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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