Kenneth A. Burdick Sells 8,500 Shares of WellCare Health Plans, Inc. (WCG) Stock
WellCare Health Plans, Inc. (NYSE:WCG) 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 value of $1,481,040.00. Following the completion of the sale, the chief executive officer now directly owns 23,627 shares in the company, valued at approximately $4,116,768.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
WellCare Health Plans, Inc. (NYSE WCG) traded down 1.01% during trading on Monday, reaching $175.99. The company had a trading volume of 228,266 shares. The company’s 50-day moving average is $173.98 and its 200 day moving average is $165.65. The firm has a market capitalization of $7.83 billion, a price-to-earnings ratio of 30.92 and a beta of 0.88. WellCare Health Plans, Inc. has a 52 week low of $109.80 and a 52 week 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 Zacks’ consensus estimate of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. Equities analysts anticipate that WellCare Health Plans, Inc. will post $6.99 EPS for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of WCG. State of Alaska Department of Revenue acquired a new stake in shares of WellCare Health Plans during the second quarter worth about $121,000. Advisory Services Network LLC increased its position in shares of WellCare Health Plans by 8.4% during the second quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after purchasing an additional 67 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in shares of WellCare Health Plans during the second quarter worth about $211,000. Neuberger Berman Group LLC increased its position in shares of WellCare Health Plans by 1.1% during the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock worth $216,000 after purchasing an additional 16 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of WellCare Health Plans during the first quarter worth about $217,000. Institutional investors and hedge funds own 97.78% of the company’s stock.
WCG has been the topic of a number of research reports. Morgan Stanley initiated coverage on WellCare Health Plans in a research note on Tuesday, June 6th. They issued an “equal weight” rating and a $183.00 price objective on the stock. Jefferies Group LLC reaffirmed a “hold” rating and issued a $170.00 price objective on shares of WellCare Health Plans in a research note on Thursday, June 8th. Leerink Swann reaffirmed an “outperform” rating and issued a $225.00 price objective (up previously from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Credit Suisse Group reaffirmed a “neutral” rating and issued a $163.00 price objective (up previously from $155.00) on shares of WellCare Health Plans in a research note on Thursday, July 13th. Finally, Deutsche Bank AG lifted their price objective on WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. WellCare Health Plans has an average rating of “Hold” and a consensus target price of $173.92.
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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