WellCare Health Plans, Inc. (WCG) Shares Sold by GAM Holding AG

GAM Holding AG lessened its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 9.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,907 shares of the company’s stock after selling 898 shares during the quarter. GAM Holding AG’s holdings in WellCare Health Plans were worth $2,193,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Tdam USA Inc. acquired a new stake in WellCare Health Plans in the 2nd quarter valued at about $205,000. CFO4Life Group LLC acquired a new stake in WellCare Health Plans in the 2nd quarter valued at about $463,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in WellCare Health Plans in the 2nd quarter valued at about $893,000. New York State Common Retirement Fund grew its stake in WellCare Health Plans by 2.6% in the 1st quarter. New York State Common Retirement Fund now owns 128,841 shares of the company’s stock valued at $24,947,000 after acquiring an additional 3,267 shares during the last quarter. Finally, Flinton Capital Management LLC grew its stake in WellCare Health Plans by 32.2% in the 1st quarter. Flinton Capital Management LLC now owns 44,416 shares of the company’s stock valued at $8,600,000 after acquiring an additional 10,816 shares during the last quarter. Institutional investors and hedge funds own 97.39% of the company’s stock.

WellCare Health Plans stock opened at $303.21 on Monday. WellCare Health Plans, Inc. has a 12-month low of $162.25 and a 12-month high of $303.95. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 35.59, a PEG ratio of 1.88 and a beta of 0.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.27.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, July 31st. The company reported $3.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.03 by $0.66. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. The business had revenue of $4.64 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the company earned $2.52 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. equities research analysts expect that WellCare Health Plans, Inc. will post 10.88 EPS for the current fiscal year.

A number of equities research analysts recently commented on WCG shares. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Wells Fargo & Co raised their price target on shares of WellCare Health Plans from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $275.00 price target (up from $235.00) on shares of WellCare Health Plans in a research note on Thursday, July 5th. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Tuesday, June 5th. Finally, Barclays raised their price target on shares of WellCare Health Plans from $288.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 1st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $267.94.

WellCare Health Plans Profile

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare 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 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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