WellCare Health Plans, Inc. (WCG) Stake Maintained by Prudential PLC

Prudential PLC continued to hold its stake in WellCare Health Plans, Inc. (NYSE:WCG) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,200 shares of the company’s stock at the end of the 2nd quarter. Prudential PLC’s holdings in WellCare Health Plans were worth $575,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in shares of WellCare Health Plans in the second quarter valued at about $121,000. Eagle Global Advisors LLC bought a new stake in shares of WellCare Health Plans in the second quarter valued at about $211,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of WellCare Health Plans by 29.3% in the second quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock valued at $237,000 after purchasing an additional 299 shares in the last quarter. Ronald Blue & Co. LLC bought a new stake in shares of WellCare Health Plans in the second quarter valued at about $240,000. Finally, CIBC Asset Management Inc bought a new stake in shares of WellCare Health Plans in the second quarter valued at about $251,000. Institutional investors own 97.78% of the company’s stock.

A number of analysts have recently commented on WCG shares. Deutsche Bank AG boosted their price target on WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Cantor Fitzgerald restated a “buy” rating and issued a $195.00 price target on shares of WellCare Health Plans in a report on Saturday, August 26th. Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Bank of America Corporation boosted their price target on WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a report on Friday, July 14th. Finally, Leerink Swann restated an “outperform” rating and issued a $225.00 price target (up from $185.00) on shares of WellCare Health Plans in a report on Thursday, June 22nd. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $177.93.

WellCare Health Plans, Inc. (NYSE WCG) opened at 170.56 on Thursday. The firm has a market cap of $7.59 billion, a P/E ratio of 29.96 and a beta of 0.88. The firm’s 50-day moving average price is $171.32 and its 200-day moving average price is $169.46. 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 posted its earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $4.23 billion. During the same quarter last year, the firm earned $2.23 EPS. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts expect that WellCare Health Plans, Inc. will post $7.01 EPS for the current fiscal year.

In other WellCare Health Plans 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 shares were sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the transaction, the director now owns 5,722 shares of the company’s stock, valued at approximately $984,012.34. The transaction was disclosed in a legal 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 transaction of $1,481,040.00. Following the transaction, the chief executive officer now directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. 0.50% of the stock is owned by company insiders.

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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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