USA Financial Portformulas Corp purchased a new stake in WellCare Health Plans, Inc. (NYSE:WCG) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,756 shares of the company’s stock, valued at approximately $495,000.

A number of other hedge funds also recently bought and sold shares of WCG. Capital Research Global Investors acquired a new position in WellCare Health Plans in the second quarter valued at about $170,042,000. American Century Companies Inc. raised its stake in WellCare Health Plans by 712.9% in the second quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock valued at $66,717,000 after purchasing an additional 325,853 shares in the last quarter. Renaissance Technologies LLC raised its stake in WellCare Health Plans by 37.7% in the second quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock valued at $152,858,000 after purchasing an additional 232,993 shares in the last quarter. Janus Henderson Group PLC acquired a new position in WellCare Health Plans in the second quarter valued at about $30,078,000. Finally, FMR LLC raised its stake in WellCare Health Plans by 285.7% in the second quarter. FMR LLC now owns 211,664 shares of the company’s stock valued at $38,007,000 after purchasing an additional 156,786 shares in the last quarter. 97.68% of the stock is owned by institutional investors and hedge funds.

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In other news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction that occurred on 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 sale, the director now directly owns 5,722 shares in the company, valued at approximately $984,012.34. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of WellCare Health Plans stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the sale, the chief executive officer now owns 23,627 shares in the company, valued at $4,116,768.48. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

WellCare Health Plans, Inc. (WCG) traded down 0.76% during trading on Thursday, hitting $174.71. The company had a trading volume of 31,372 shares. The stock has a market capitalization of $7.78 billion, a price-to-earnings ratio of 30.69 and a beta of 0.88. The company’s 50 day moving average price is $171.63 and its 200-day moving average price is $170.61. WellCare Health Plans, Inc. has a 1-year low of $113.34 and a 1-year high of $184.88.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.29. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 19.8% compared to the same quarter last year. During the same period last year, the company earned $2.23 EPS. On average, analysts expect that WellCare Health Plans, Inc. will post $7.01 EPS for the current year.

A number of research firms recently commented on WCG. Mitsubishi UFJ Financial Group began coverage on WellCare Health Plans in a research note on Thursday, September 21st. They issued an “overweight” rating and a $204.00 price target for the company. BidaskClub cut WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, October 9th. ValuEngine cut WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Morgan Stanley lifted their target price on WellCare Health Plans from $183.00 to $184.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $181.73.

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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