TD Asset Management Inc. lessened its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,200 shares of the company’s stock after selling 1,700 shares during the period. TD Asset Management Inc.’s holdings in WellCare Health Plans were worth $3,813,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. M&T Bank Corp grew its stake in WellCare Health Plans by 0.3% in the 2nd quarter. M&T Bank Corp now owns 2,088 shares of the company’s stock worth $376,000 after buying an additional 6 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in WellCare Health Plans by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,493 shares of the company’s stock worth $1,166,000 after buying an additional 22 shares in the last quarter. Advisory Services Network LLC grew its stake in WellCare Health Plans by 8.4% in the 2nd quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after buying an additional 67 shares in the last quarter. Teacher Retirement System of Texas grew its stake in WellCare Health Plans by 2.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,551 shares of the company’s stock worth $638,000 after buying an additional 77 shares in the last quarter. Finally, Utah Retirement Systems grew its stake in WellCare Health Plans by 1.2% in the 2nd quarter. Utah Retirement Systems now owns 8,200 shares of the company’s stock worth $1,472,000 after buying an additional 100 shares in the last quarter. 99.91% of the stock is owned by institutional investors and hedge funds.

Shares of WellCare Health Plans, Inc. (NYSE WCG) traded up $1.60 on Friday, reaching $209.07. 339,300 shares of the company’s stock traded hands, compared to its average volume of 363,461. The stock has a market cap of $9,236.89, a PE ratio of 22.45, a P/E/G ratio of 1.60 and a beta of 0.82. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. WellCare Health Plans, Inc. has a fifty-two week low of $133.21 and a fifty-two week high of $213.97.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $2.18. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.37 billion. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The firm’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 EPS. analysts predict that WellCare Health Plans, Inc. will post 8.44 earnings per share for the current fiscal year.

In other WellCare Health Plans news, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the completion of the sale, the chief executive officer now owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carol Burt sold 997 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $202.20, for a total transaction of $201,593.40. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

A number of equities research analysts have recently issued reports on WCG shares. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 price objective for the company in a research note on Thursday, November 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $214.00 price objective on shares of WellCare Health Plans in a research note on Wednesday, November 1st. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $195.00 price objective on shares of WellCare Health Plans in a research note on Saturday, August 26th. Finally, Deutsche Bank upped their price objective on shares of WellCare Health Plans to $240.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $200.20.

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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.

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

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