Rafferty Asset Management LLC bought a new stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 29,668 shares of the company’s stock, valued at approximately $5,327,000. Rafferty Asset Management LLC owned approximately 0.07% of WellCare Health Plans at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in WellCare Health Plans during the 2nd quarter valued at about $121,000. Eagle Global Advisors LLC purchased a new position in WellCare Health Plans during the 2nd quarter valued at about $211,000. Neuberger Berman Group LLC increased its holdings in WellCare Health Plans by 1.1% during the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after acquiring an additional 16 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in WellCare Health Plans during the 1st quarter valued at about $217,000. Finally, National Asset Management Inc. purchased a new position in WellCare Health Plans during the 1st quarter valued at about $232,000. Hedge funds and other institutional investors own 97.78% of the company’s stock.

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WCG has been the subject of several recent research reports. Deutsche Bank AG raised their target price on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Cantor Fitzgerald restated a “buy” rating and set a $195.00 target price on shares of WellCare Health Plans in a report on Saturday, August 26th. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Bank of America Corporation raised their target price on shares of WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a report on Friday, July 14th. Finally, Leerink Swann restated an “outperform” rating and set a $225.00 target price (up from $185.00) on shares of WellCare Health Plans in a report on Thursday, June 22nd. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. WellCare Health Plans has an average rating of “Hold” and an average target price of $173.92.

In other news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $171.97, for a total value of $1,440,076.78. Following the transaction, the director now owns 5,722 shares in the company, valued at approximately $984,012.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the transaction, the chief executive officer now owns 23,627 shares in the company, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

WellCare Health Plans, Inc. (WCG) traded down 3.86% during midday trading on Tuesday, hitting $169.19. 95,218 shares of the company’s stock traded hands. The company has a 50 day moving average of $173.86 and a 200-day moving average of $166.22. WellCare Health Plans, Inc. has a 52 week low of $111.36 and a 52 week high of $184.88. The company has a market capitalization of $7.53 billion, a PE ratio of 29.72 and a beta of 0.88.

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

WellCare Health Plans Profile

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.

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

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