WellCare Health Plans, Inc. (WCG) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its position in WellCare Health Plans, Inc. (NYSE:WCG) by 5.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 377,420 shares of the company’s stock after buying an additional 18,448 shares during the period. Dimensional Fund Advisors LP owned approximately 0.75% of WellCare Health Plans worth $120,959,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in WCG. Financial Gravity Wealth Inc. lifted its position in WellCare Health Plans by 3,977.8% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock valued at $107,000 after acquiring an additional 358 shares in the last quarter. Private Capital Group LLC lifted its position in WellCare Health Plans by 234.0% in the 3rd quarter. Private Capital Group LLC now owns 334 shares of the company’s stock valued at $107,000 after acquiring an additional 234 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in WellCare Health Plans by 100.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 400 shares of the company’s stock valued at $117,000 after acquiring an additional 200 shares in the last quarter. Cerebellum GP LLC bought a new stake in WellCare Health Plans in the 3rd quarter valued at $191,000. Finally, Jaffetilchin Investment Partners LLC bought a new stake in WellCare Health Plans in the 3rd quarter valued at $202,000. 98.53% of the stock is owned by institutional investors.

Shares of NYSE:WCG opened at $238.85 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.51. WellCare Health Plans, Inc. has a one year low of $187.06 and a one year high of $324.99. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 1.40 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 EPS for the quarter, topping the 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 firm had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.06 billion. During the same period in the previous year, the firm posted $4.08 EPS. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that WellCare Health Plans, Inc. will post 11.01 EPS for the current fiscal year.

Several research firms recently commented on WCG. Barclays reaffirmed a “buy” rating and issued a $325.00 price objective on shares of WellCare Health Plans in a research report on Tuesday, September 18th. Argus boosted their price objective on shares of WellCare Health Plans from $265.00 to $360.00 and gave the company a “buy” rating in a research report on Friday, August 31st. Morgan Stanley boosted their price objective on shares of WellCare Health Plans from $330.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 12th. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Finally, Evercore ISI began coverage on shares of WellCare Health Plans in a research report on Tuesday, October 9th. They issued an “outperform” rating and a $365.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. WellCare Health Plans currently has a consensus rating of “Buy” and an average target price of $305.20.

In other news, Director Richard C. Breon sold 2,500 shares of the company’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $239.96, for a total value of $599,900.00. Following the sale, the director now directly owns 6,406 shares of the company’s stock, valued at approximately $1,537,183.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Anat Hakim sold 1,647 shares of the company’s stock in a transaction dated Friday, November 30th. The shares were 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. Insiders have sold a total of 7,647 shares of company stock worth $1,924,167 over the last three months. Insiders own 0.59% of the company’s stock.

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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.

Further Reading: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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