Jefferies Group LLC purchased a new stake in WellCare Health Plans, Inc. (NYSE:WCG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 17,488 shares of the company’s stock, valued at approximately $5,605,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. lifted its position in WellCare Health Plans by 28.8% in the 2nd quarter. American Century Companies Inc. now owns 1,337,459 shares of the company’s stock valued at $329,336,000 after acquiring an additional 299,273 shares in the last quarter. FMR LLC increased its stake in WellCare Health Plans by 267.8% in the 3rd quarter. FMR LLC now owns 1,318,399 shares of the company’s stock valued at $422,534,000 after buying an additional 959,928 shares during the last quarter. Bank of New York Mellon Corp increased its stake in WellCare Health Plans by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,077,020 shares of the company’s stock valued at $265,204,000 after buying an additional 21,813 shares during the last quarter. OppenheimerFunds Inc. increased its stake in WellCare Health Plans by 25.8% in the 2nd quarter. OppenheimerFunds Inc. now owns 450,474 shares of the company’s stock valued at $110,923,000 after buying an additional 92,269 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in WellCare Health Plans by 5.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 377,420 shares of the company’s stock valued at $120,959,000 after buying an additional 18,448 shares during the last quarter. 98.53% of the stock is currently owned by institutional investors and hedge funds.
Shares of WCG stock opened at $238.85 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. WellCare Health Plans, Inc. has a 12-month low of $187.06 and a 12-month high of $324.99. The company has a market cap of $12.21 billion, a PE ratio of 24.89, a P/E/G ratio of 1.36 and a beta of 1.18.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.24. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the business posted $4.08 EPS. WellCare Health Plans’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts forecast that WellCare Health Plans, Inc. will post 11.01 earnings per share for the current fiscal year.
In related news, Director H James Dallas purchased 1,171 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The stock was bought at an average price of $256.35 per share, for a total transaction of $300,185.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Anat Hakim sold 1,647 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $256.24, for a total transaction of $422,027.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,647 shares of company stock valued at $1,924,167. 0.59% of the stock is currently owned by company insiders.
Several research firms have commented on WCG. ValuEngine lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Cantor Fitzgerald reiterated a “buy” rating and issued a $330.00 price objective on shares of WellCare Health Plans in a research note on Tuesday, October 30th. Evercore ISI began coverage on shares of WellCare Health Plans in a research note on Tuesday, October 9th. They issued an “outperform” rating and a $365.00 price objective for the company. Barclays reiterated a “buy” rating and issued a $338.00 price objective on shares of WellCare Health Plans in a research note on Friday, September 28th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of WellCare Health Plans in a research note on Wednesday, September 26th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $305.20.
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WellCare Health Plans Company 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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