HBK Investments L P increased its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 167.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,800 shares of the company’s stock after acquiring an additional 43,700 shares during the quarter. HBK Investments L P owned about 0.16% of WellCare Health Plans worth $14,037,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of WCG. Nationwide Fund Advisors boosted its position in shares of WellCare Health Plans by 21.8% during the third quarter. Nationwide Fund Advisors now owns 214,619 shares of the company’s stock worth $36,859,000 after acquiring an additional 38,427 shares during the last quarter. Candriam Luxembourg S.C.A. bought a new position in shares of WellCare Health Plans during the third quarter worth $515,000. Sei Investments Co. boosted its position in shares of WellCare Health Plans by 4.3% during the third quarter. Sei Investments Co. now owns 15,225 shares of the company’s stock worth $2,615,000 after acquiring an additional 626 shares during the last quarter. Rhumbline Advisers boosted its position in shares of WellCare Health Plans by 11.4% during the third quarter. Rhumbline Advisers now owns 108,573 shares of the company’s stock worth $18,646,000 after acquiring an additional 11,113 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of WellCare Health Plans by 7.3% during the third quarter. Russell Investments Group Ltd. now owns 533,384 shares of the company’s stock worth $91,603,000 after acquiring an additional 36,198 shares during the last quarter. Hedge funds and other institutional investors own 98.26% of the company’s stock.
A number of equities analysts recently weighed in on WCG shares. Goldman Sachs Group began coverage on shares of WellCare Health Plans in a research report on Wednesday, January 3rd. They set a “buy” rating and a $255.00 target price for the company. ValuEngine downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Cowen reaffirmed an “outperform” rating and set 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 set a $235.00 price target on shares of WellCare Health Plans in a research note on Monday, December 18th. Finally, Bank of America upped 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. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. WellCare Health Plans has a consensus rating of “Buy” and an average target price of $217.86.
WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, February 6th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.11. WellCare Health Plans had a net margin of 2.20% and a return on equity of 17.10%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.32 billion. During the same quarter in the prior year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. sell-side analysts expect that WellCare Health Plans, Inc. will post 9.79 EPS for the current year.
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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.
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