Pioneer Investment Management Inc. decreased its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 7.2% during the second quarter, Holdings Channel reports. The fund owned 89,173 shares of the company’s stock after selling 6,929 shares during the period. Pioneer Investment Management Inc.’s holdings in WellCare Health Plans were worth $16,012,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in shares of WellCare Health Plans during the second quarter worth $121,000. Advisory Services Network LLC bought a new stake in shares of WellCare Health Plans during the first quarter worth $112,000. Creative Planning boosted its stake in shares of WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock worth $121,000 after buying an additional 25 shares in the last quarter. Eagle Global Advisors LLC bought a new stake in shares of WellCare Health Plans during the second quarter worth $211,000. Finally, Ronald Blue & Co. LLC bought a new stake in shares of WellCare Health Plans during the second quarter worth $240,000. Hedge funds and other institutional investors own 98.71% of the company’s stock.

WellCare Health Plans, Inc. (NYSE WCG) opened at 172.03 on Friday. The company has a 50 day moving average of $180.00 and a 200-day moving average of $160.38. The firm has a market cap of $7.66 billion, a PE ratio of 30.22 and a beta of 0.84. WellCare Health Plans, Inc. has a one year low of $109.74 and a one year high of $184.88.

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

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A number of equities research analysts have weighed in on WCG shares. Jefferies Group LLC reiterated a “hold” rating and set a $142.00 price target on shares of WellCare Health Plans in a research report on Wednesday, April 19th. Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 price target for the company in a research report on Monday, May 1st. Wolfe Research reiterated a “market perform” rating on shares of WellCare Health Plans in a research report on Friday, May 5th. Morgan Stanley started coverage on shares of WellCare Health Plans in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $183.00 price target for the company. Finally, Leerink Swann reiterated an “outperform” rating and set a $225.00 price target (up from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. WellCare Health Plans has a consensus rating of “Hold” and a consensus price target of $170.09.

In related news, EVP Kelly A. Munson sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $173.71, for a total transaction of $521,130.00. Following the completion of the sale, the executive vice president now owns 4,243 shares of the company’s stock, valued at approximately $737,051.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Lynn Asher sold 7,314 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $175.04, for a total transaction of $1,280,242.56. Following the sale, the chief financial officer now directly owns 13,244 shares of the company’s stock, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,914 shares of company stock valued at $2,255,369. Corporate insiders own 0.50% of the company’s stock.

WellCare Health Plans Company 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.

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

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