Wells Fargo & Company MN reduced its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 28.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 460,208 shares of the company’s stock after selling 183,587 shares during the period. Wells Fargo & Company MN’s holdings in WellCare Health Plans were worth $124,141,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Artisan Partners Limited Partnership raised its holdings in WellCare Health Plans by 7.1% in the first quarter. Artisan Partners Limited Partnership now owns 431,116 shares of the company’s stock worth $116,294,000 after buying an additional 28,438 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in WellCare Health Plans by 32.1% in the first quarter. TimesSquare Capital Management LLC now owns 528,900 shares of the company’s stock worth $142,671,000 after buying an additional 128,370 shares during the last quarter. Balasa Dinverno & Foltz LLC purchased a new position in WellCare Health Plans in the first quarter worth about $200,000. Vantage Investment Partners LLC purchased a new position in WellCare Health Plans in the first quarter worth about $5,260,000. Finally, Pictet Asset Management Ltd. raised its holdings in WellCare Health Plans by 4.6% in the first quarter. Pictet Asset Management Ltd. now owns 24,676 shares of the company’s stock worth $6,656,000 after buying an additional 1,076 shares during the last quarter. 98.97% of the stock is owned by institutional investors.

WCG has been the subject of several recent analyst reports. Wells Fargo & Co decreased their target price on shares of WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Cowen initiated coverage on shares of WellCare Health Plans in a report on Thursday, February 28th. They issued an “outperform” rating for the company. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, BMO Capital Markets cut shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 target price for the company. in a report on Monday. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $310.07.

Shares of WCG stock traded up $3.74 during trading hours on Monday, reaching $279.93. The company had a trading volume of 100,729 shares, compared to its average volume of 1,056,044. WellCare Health Plans, Inc. has a one year low of $218.55 and a one year high of $324.99. The firm has a market capitalization of $13.90 billion, a PE ratio of 25.36, a P/E/G ratio of 1.36 and a beta of 1.02. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.48.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.59. WellCare Health Plans had a net margin of 2.17% and a return on equity of 15.47%. The firm had revenue of $6.76 billion during the quarter, compared to analyst estimates of $6.56 billion. During the same period in the previous year, the business posted $2.47 earnings per share. The business’s revenue for the quarter was up 45.5% on a year-over-year basis. Analysts anticipate that WellCare Health Plans, Inc. will post 13.91 earnings per share for the current year.

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WellCare Health Plans Company Profile

WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (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 programs 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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