Brinker Capital Inc. lifted its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 191.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,472 shares of the company’s stock after purchasing an additional 4,912 shares during the quarter. Brinker Capital Inc.’s holdings in WellCare Health Plans were worth $1,764,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. We Are One Seven LLC purchased a new position in shares of WellCare Health Plans in the 4th quarter valued at approximately $27,000. Trust Co. of Vermont purchased a new position in shares of WellCare Health Plans in the 4th quarter valued at approximately $27,000. Cornerstone Advisors Inc. raised its position in shares of WellCare Health Plans by 1,425.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 122 shares of the company’s stock valued at $29,000 after purchasing an additional 114 shares during the last quarter. Legacy Financial Advisors Inc. raised its position in shares of WellCare Health Plans by 90.1% in the 4th quarter. Legacy Financial Advisors Inc. now owns 135 shares of the company’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Finally, Semmax Financial Advisors Inc. purchased a new position in shares of WellCare Health Plans in the 4th quarter valued at approximately $34,000. 98.49% of the stock is owned by hedge funds and other institutional investors.
WCG has been the subject of several research analyst reports. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Zacks Investment Research reiterated a “buy” rating and issued a $251.00 price target on shares of WellCare Health Plans in a report on Monday, December 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $330.00 price target on shares of WellCare Health Plans in a report on Monday, December 17th. Cowen initiated coverage on shares of WellCare Health Plans in a report on Thursday, February 28th. They issued an “outperform” rating on the stock. Finally, Wolfe Research upgraded shares of WellCare Health Plans from a “market perform” rating to an “outperform” rating in a report on Thursday, January 3rd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. WellCare Health Plans currently has a consensus rating of “Buy” and a consensus target price of $306.43.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $1.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.08. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.85 billion. WellCare Health Plans had a net margin of 2.15% and a return on equity of 15.39%. WellCare Health Plans’s quarterly revenue was up 37.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. On average, analysts forecast that WellCare Health Plans, Inc. will post 13.59 earnings per share for the current year.
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WellCare Health Plans 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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