Penn Capital Management Co. Inc. Decreases Holdings in WellCare Health Plans, Inc. (WCG)

Penn Capital Management Co. Inc. trimmed its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 33.0% during the first quarter, HoldingsChannel reports. The firm owned 4,994 shares of the company’s stock after selling 2,460 shares during the period. Penn Capital Management Co. Inc.’s holdings in WellCare Health Plans were worth $4,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC lifted its stake in WellCare Health Plans by 766.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 104 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares in the last quarter. We Are One Seven LLC purchased a new position in WellCare Health Plans in the 4th quarter worth approximately $27,000. Trust Co. of Vermont purchased a new position in WellCare Health Plans in the 4th quarter worth approximately $27,000. Cornerstone Advisors Inc. lifted its stake in WellCare Health Plans by 1,425.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 122 shares of the company’s stock worth $29,000 after purchasing an additional 114 shares in the last quarter. Finally, Kaizen Advisory LLC purchased a new position in WellCare Health Plans in the 4th quarter worth approximately $29,000. 98.49% of the stock is currently owned by institutional investors and hedge funds.

WCG has been the topic of a number of research 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 on the stock in a research note on Wednesday, May 1st. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. Cowen started coverage on shares of WellCare Health Plans in a research note on Thursday, February 28th. They issued an “outperform” rating on the stock. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, Credit Suisse Group started coverage on shares of WellCare Health Plans in a report on Monday, April 15th. They set a “neutral” rating and a $307.00 price target for the company. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. WellCare Health Plans currently has an average rating of “Buy” and an average target price of $311.13.

Shares of NYSE WCG opened at $275.50 on Thursday. The company has a market cap of $13.70 billion, a PE ratio of 24.98, a PEG ratio of 1.23 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.28 and a quick ratio of 1.28. WellCare Health Plans, Inc. has a 1 year low of $215.49 and a 1 year high of $324.99.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.10 by $0.59. The business had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.56 billion. WellCare Health Plans had a net margin of 2.17% and a return on equity of 15.47%. The business’s revenue was up 45.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.47 EPS. On average, sell-side analysts expect that WellCare Health Plans, Inc. will post 13.95 EPS for the current fiscal 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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