Hanseatic Management Services Inc. boosted its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 7.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,700 shares of the company’s stock after purchasing an additional 447 shares during the period. WellCare Health Plans makes up approximately 1.4% of Hanseatic Management Services Inc.’s portfolio, making the stock its 13th biggest holding. Hanseatic Management Services Inc.’s holdings in WellCare Health Plans were worth $1,347,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of WellCare Health Plans during the 3rd quarter worth about $103,000. Bessemer Group Inc. boosted its stake in shares of WellCare Health Plans by 593.2% during the 4th quarter. Bessemer Group Inc. now owns 818 shares of the company’s stock worth $165,000 after acquiring an additional 700 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of WellCare Health Plans during the 4th quarter worth about $202,000. Matisse Capital purchased a new stake in shares of WellCare Health Plans during the 4th quarter worth about $205,000. Finally, Ellington Management Group LLC purchased a new stake in shares of WellCare Health Plans during the 4th quarter worth about $302,000. 98.26% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on the stock. Bank of America raised their price target on shares of WellCare Health Plans from $210.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, November 17th. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $216.00 price target on the stock in a research note on Tuesday, February 20th. Cowen reaffirmed an “outperform” rating and issued a $250.00 price target on shares of WellCare Health Plans in a research note on Tuesday, January 23rd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $235.00 price target on shares of WellCare Health Plans in a research note on Monday, December 18th. Finally, Goldman Sachs Group assumed coverage on shares of WellCare Health Plans in a research note on Wednesday, January 3rd. They issued a “buy” rating and a $255.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. WellCare Health Plans has an average rating of “Buy” and an average price target of $217.86.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.11. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.32 billion. WellCare Health Plans had a net margin of 0.11% and a return on equity of 0.78%. The business’s revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.03 EPS. equities research analysts expect that WellCare Health Plans, Inc. will post 9.79 earnings per share for the current year.
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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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