Canada Pension Plan Investment Board reduced its position in WellCare Health Plans, Inc. (NYSE:WCG) by 66.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,500 shares of the company’s stock after selling 101,700 shares during the quarter. Canada Pension Plan Investment Board owned about 0.12% of WellCare Health Plans worth $9,016,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in WCG. Capital Research Global Investors bought a new position in WellCare Health Plans in the 2nd quarter valued at about $170,042,000. American Century Companies Inc. increased its holdings in WellCare Health Plans by 712.9% in the 2nd quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock valued at $66,717,000 after buying an additional 325,853 shares during the period. Renaissance Technologies LLC increased its holdings in WellCare Health Plans by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock valued at $152,858,000 after buying an additional 232,993 shares during the period. Janus Henderson Group PLC bought a new position in WellCare Health Plans in the 2nd quarter valued at about $30,078,000. Finally, FMR LLC increased its holdings in WellCare Health Plans by 285.7% in the 2nd quarter. FMR LLC now owns 211,664 shares of the company’s stock valued at $38,007,000 after buying an additional 156,786 shares during the period. 97.84% of the stock is currently owned by hedge funds and other institutional investors.
WCG has been the topic of several research reports. Zacks Investment Research lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $188.00 price target (up from $175.00) on shares of WellCare Health Plans in a report on Wednesday, November 1st. BMO Capital Markets initiated coverage on shares of WellCare Health Plans in a report on Monday, October 16th. They set an “outperform” rating and a $215.00 price target on the stock. Morgan Stanley lifted their price target on shares of WellCare Health Plans from $184.00 to $212.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Finally, ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $195.27.
In other news, 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 owns 23,627 shares in the company, valued at approximately $4,116,768.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol Burt sold 997 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total transaction of $201,593.40. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.
Shares of WellCare Health Plans, Inc. (NYSE WCG) opened at $200.55 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51. WellCare Health Plans, Inc. has a 1 year low of $119.69 and a 1 year high of $208.89. The company has a market cap of $8,928.89, a P/E ratio of 21.70, a P/E/G ratio of 1.54 and a beta of 0.81.
WellCare Health Plans (NYSE:WCG) last posted its earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, topping the consensus estimate of $1.90 by $2.18. WellCare Health Plans had a net margin of 2.21% and a return on equity of 19.42%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period last year, the company earned $1.63 EPS. The firm’s revenue was up 22.8% compared to the same quarter last year. analysts predict that WellCare Health Plans, Inc. will post 8.46 earnings per share for the current year.
WellCare Health Plans 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.
Want to see what other hedge funds are holding WCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WellCare Health Plans, Inc. (NYSE:WCG).
Receive News & Ratings for WellCare Health Plans Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans Inc. and related companies with MarketBeat.com's FREE daily email newsletter.