Barings LLC Maintains Holdings in WellCare Health Plans, Inc. (WCG)

Barings LLC continued to hold its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,850 shares of the company’s stock at the end of the second quarter. Barings LLC’s holdings in WellCare Health Plans were worth $1,241,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in WellCare Health Plans by 0.3% during the 2nd quarter. M&T Bank Corp now owns 2,088 shares of the company’s stock valued at $376,000 after purchasing an additional 6 shares during the period. World Asset Management Inc increased its position in WellCare Health Plans by 0.3% during the 2nd quarter. World Asset Management Inc now owns 3,428 shares of the company’s stock valued at $616,000 after purchasing an additional 11 shares during the period. Neuberger Berman Group LLC increased its position in WellCare Health Plans by 1.1% during the 1st quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after purchasing an additional 16 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in WellCare Health Plans by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,493 shares of the company’s stock valued at $1,166,000 after purchasing an additional 22 shares during the period. Finally, Meeder Asset Management Inc. increased its position in WellCare Health Plans by 0.6% during the 2nd quarter. Meeder Asset Management Inc. now owns 9,779 shares of the company’s stock valued at $1,755,000 after purchasing an additional 63 shares during the period. 97.78% of the stock is owned by institutional investors.

In other news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the transaction, the director now directly owns 5,722 shares of the company’s stock, valued at $984,012.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $4,116,768.48. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

A number of research firms have weighed in on WCG. ValuEngine downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday. BidaskClub downgraded shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Mitsubishi UFJ Financial Group began coverage on shares of WellCare Health Plans in a research report on Thursday, September 21st. They set an “overweight” rating and a $204.00 target price for the company. Finally, Deutsche Bank AG increased their target price on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, July 13th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $177.93.

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WellCare Health Plans, Inc. (NYSE WCG) opened at 167.68 on Wednesday. The company has a market capitalization of $7.46 billion, a PE ratio of 29.46 and a beta of 0.88. The firm’s 50 day moving average price is $171.35 and its 200-day moving average price is $169.45. WellCare Health Plans, Inc. has a 12-month low of $113.34 and a 12-month high of $184.88.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same period in the previous year, the firm earned $2.23 EPS. The business’s quarterly revenue was up 19.8% on a year-over-year basis. On average, equities analysts anticipate that WellCare Health Plans, Inc. will post $7.01 earnings per share for the current fiscal year.

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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