Robeco Institutional Asset Management B.V. trimmed its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 2.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,979 shares of the company’s stock after selling 595 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.05% of WellCare Health Plans worth $7,280,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in WCG. Flagship Harbor Advisors LLC raised its position in WellCare Health Plans by 766.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 104 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares during the period. We Are One Seven LLC purchased a new stake in WellCare Health Plans in the 4th quarter worth about $27,000. Trust Co. of Vermont purchased a new stake in WellCare Health Plans in the 4th quarter worth about $27,000. Cornerstone Advisors Inc. raised its position in WellCare Health Plans by 1,425.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 122 shares of the company’s stock worth $29,000 after purchasing an additional 114 shares during the period. Finally, Kaizen Advisory LLC purchased a new stake in WellCare Health Plans in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 98.49% of the company’s stock.
A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of WellCare Health Plans to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th. Credit Suisse Group initiated coverage on shares of WellCare Health Plans in a research report on Monday, April 15th. They issued a “neutral” rating and a $307.00 price objective on the stock. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Wells Fargo & Co dropped their target price on shares of WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, Cowen initiated coverage on shares of WellCare Health Plans in a research note on Thursday, February 28th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $311.13.
NYSE WCG opened at $276.00 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.28 and a current ratio of 1.28. WellCare Health Plans, Inc. has a 52-week low of $215.49 and a 52-week high of $324.99. The company has a market cap of $13.70 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 1.23 and a beta of 1.19.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $3.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.10 by $0.59. The firm had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.56 billion. WellCare Health Plans had a net margin of 2.17% and a return on equity of 15.47%. The company’s quarterly revenue was up 45.5% on a year-over-year basis. During the same period last year, the firm earned $2.47 earnings per share. On average, equities analysts predict that WellCare Health Plans, Inc. will post 13.95 earnings per share for the current year.
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About WellCare Health Plans
WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (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 programs for qualifying families who are not eligible for Medicaid.
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