Riverhead Capital Management LLC cut its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 35.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,450 shares of the company’s stock after selling 13,535 shares during the period. Riverhead Capital Management LLC’s holdings in WellCare Health Plans were worth $7,836,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Financial Gravity Wealth Inc. boosted its holdings in WellCare Health Plans by 3,977.8% in the third quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock valued at $107,000 after acquiring an additional 358 shares during the last quarter. Private Capital Group LLC boosted its holdings in WellCare Health Plans by 234.0% in the third quarter. Private Capital Group LLC now owns 334 shares of the company’s stock valued at $107,000 after acquiring an additional 234 shares during the last quarter. Chicago Partners Investment Group LLC boosted its holdings in WellCare Health Plans by 100.0% in the third quarter. Chicago Partners Investment Group LLC now owns 400 shares of the company’s stock valued at $117,000 after acquiring an additional 200 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in WellCare Health Plans by 55.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock valued at $126,000 after acquiring an additional 182 shares during the last quarter. Finally, Cerebellum GP LLC bought a new stake in WellCare Health Plans in the third quarter valued at approximately $191,000. Institutional investors and hedge funds own 98.53% of the company’s stock.

WellCare Health Plans stock opened at $252.26 on Wednesday. The company has a market cap of $12.74 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 1.46 and a beta of 1.18. WellCare Health Plans, Inc. has a 52-week low of $187.06 and a 52-week high of $324.99. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.51.

WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.24. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period in the prior year, the firm earned $4.08 earnings per share. WellCare Health Plans’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts forecast that WellCare Health Plans, Inc. will post 11.01 EPS for the current year.

In other news, Director Richard C. Breon sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $239.96, for a total transaction of $599,900.00. Following the transaction, the director now directly owns 6,406 shares of the company’s stock, valued at $1,537,183.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Robert Polen sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $256.85, for a total value of $770,550.00. The disclosure for this sale can be found here. Insiders have sold 7,647 shares of company stock worth $1,924,167 over the last ninety days. 0.59% of the stock is owned by insiders.

A number of equities analysts have issued reports on the company. Argus increased their price target on WellCare Health Plans from $265.00 to $360.00 and gave the stock a “buy” rating in a report on Friday, August 31st. Barclays restated a “buy” rating and set a $338.00 price target on shares of WellCare Health Plans in a report on Friday, September 28th. Wells Fargo & Co restated a “buy” rating on shares of WellCare Health Plans in a report on Wednesday, September 26th. Cantor Fitzgerald restated a “buy” rating and set a $330.00 price target on shares of WellCare Health Plans in a report on Tuesday, October 30th. Finally, BMO Capital Markets set a $345.00 price target on WellCare Health Plans and gave the stock a “buy” rating in a report on Friday, September 14th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $305.20.

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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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