WellCare Health Plans, Inc. (WCG) Position Lifted by Quantitative Investment Management LLC
Quantitative Investment Management LLC increased its position in WellCare Health Plans, Inc. (NYSE:WCG) by 1,010.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,300 shares of the company’s stock after acquiring an additional 57,600 shares during the quarter. Quantitative Investment Management LLC owned about 0.14% of WellCare Health Plans worth $11,366,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in WCG. Wells Fargo & Company MN raised its holdings in WellCare Health Plans by 45.1% in the 1st quarter. Wells Fargo & Company MN now owns 78,410 shares of the company’s stock worth $10,994,000 after acquiring an additional 24,362 shares during the period. Swiss National Bank increased its holdings in shares of WellCare Health Plans by 0.5% during the 1st quarter. Swiss National Bank now owns 73,200 shares of the company’s stock worth $10,263,000 after purchasing an additional 400 shares during the period. World Asset Management Inc increased its holdings in shares of WellCare Health Plans by 13.8% during the 1st quarter. World Asset Management Inc now owns 3,417 shares of the company’s stock worth $479,000 after purchasing an additional 414 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of WellCare Health Plans by 31.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 62,459 shares of the company’s stock worth $8,757,000 after purchasing an additional 14,884 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of WellCare Health Plans by 21.2% during the 1st quarter. Sei Investments Co. now owns 10,017 shares of the company’s stock worth $1,404,000 after purchasing an additional 1,750 shares during the period. Hedge funds and other institutional investors own 97.78% of the company’s stock.
In other WellCare Health Plans news, CEO Kenneth A. Burdick sold 8,500 shares of the firm’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 transaction, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at approximately $4,116,768.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the completion of the transaction, the director now directly owns 5,722 shares in the company, valued at $984,012.34. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.
WCG has been the topic of several research reports. BidaskClub downgraded shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Deutsche Bank AG boosted their price objective on shares of WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. ValuEngine upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Cantor Fitzgerald restated a “buy” rating and set a $195.00 price objective on shares of WellCare Health Plans in a report on Saturday, August 26th. Finally, Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a report on Friday, August 11th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $176.23.
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WellCare Health Plans, Inc. (NYSE WCG) opened at 165.67 on Thursday. WellCare Health Plans, Inc. has a 52-week low of $112.40 and a 52-week high of $184.88. The firm has a 50-day moving average of $173.61 and a 200-day moving average of $166.40. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of 29.11 and a beta of 0.88.
WellCare Health Plans (NYSE:WCG) last released its earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.23 by $0.29. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same period last year, the firm earned $2.23 EPS. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts forecast that WellCare Health Plans, Inc. will post $6.99 EPS for the current fiscal 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.
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