Dorsey Wright & Associates reduced its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 18.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,270 shares of the company’s stock after selling 2,507 shares during the quarter. Dorsey Wright & Associates’ holdings in WellCare Health Plans were worth $3,612,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. lifted its stake in WellCare Health Plans by 98.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock valued at $108,000 after buying an additional 279 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in WellCare Health Plans by 55.2% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock valued at $126,000 after buying an additional 182 shares in the last quarter. Cerebellum GP LLC purchased a new position in WellCare Health Plans in the 3rd quarter valued at about $191,000. Jaffetilchin Investment Partners LLC purchased a new position in WellCare Health Plans in the 3rd quarter valued at about $202,000. Finally, Tdam USA Inc. purchased a new position in WellCare Health Plans in the 2nd quarter valued at about $205,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.
WCG opened at $307.77 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.27. WellCare Health Plans, Inc. has a 1-year low of $162.25 and a 1-year high of $324.99. The company has a market capitalization of $14.35 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 1.92 and a beta of 1.02.
WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, July 31st. The company reported $3.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.03 by $0.66. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. The business had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company posted $2.52 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that WellCare Health Plans, Inc. will post 10.85 EPS for the current fiscal year.
A number of brokerages recently weighed in on WCG. JPMorgan Chase & Co. raised shares of WellCare Health Plans from a “neutral” rating to an “overweight” rating and raised their price target for the company from $223.00 to $287.00 in a research note on Wednesday, June 27th. Barclays reaffirmed a “buy” rating and issued a $338.00 price target on shares of WellCare Health Plans in a research note on Friday, September 28th. Evercore ISI began coverage on shares of WellCare Health Plans in a research note on Tuesday. They issued an “outperform” rating and a $365.00 price target on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of WellCare Health Plans in a research note on Tuesday, July 31st. Finally, Morgan Stanley raised their price target on shares of WellCare Health Plans from $258.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 1st. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $296.00.
WellCare Health Plans Profile
WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare 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 for qualifying families who are not eligible for Medicaid.
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