Gamco Investors INC. ET AL raised its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 200.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,300 shares of the company’s stock after acquiring an additional 4,200 shares during the quarter. Gamco Investors INC. ET AL’s holdings in WellCare Health Plans were worth $1,633,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in WellCare Health Plans by 1.8% in the second quarter. Vanguard Group Inc. now owns 5,381,421 shares of the company’s stock valued at $1,534,082,000 after acquiring an additional 94,109 shares during the last quarter. Magnetar Financial LLC boosted its stake in WellCare Health Plans by 53.6% in the second quarter. Magnetar Financial LLC now owns 912,876 shares of the company’s stock valued at $260,234,000 after acquiring an additional 318,581 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in WellCare Health Plans by 8.5% in the second quarter. JPMorgan Chase & Co. now owns 743,510 shares of the company’s stock valued at $212,696,000 after acquiring an additional 58,374 shares during the last quarter. Paulson & CO. Inc. boosted its stake in WellCare Health Plans by 86.6% in the second quarter. Paulson & CO. Inc. now owns 587,700 shares of the company’s stock valued at $167,536,000 after acquiring an additional 272,800 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in WellCare Health Plans by 3.6% in the second quarter. Northern Trust Corp now owns 553,527 shares of the company’s stock valued at $157,794,000 after acquiring an additional 19,411 shares during the last quarter. 92.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE WCG traded up $6.10 during midday trading on Friday, reaching $302.96. 504,128 shares of the stock were exchanged, compared to its average volume of 686,636. The business has a 50-day simple moving average of $273.72 and a two-hundred day simple moving average of $276.48. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.33 and a beta of 0.91. WellCare Health Plans, Inc. has a 12 month low of $220.63 and a 12 month high of $301.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.16 and a quick ratio of 1.16.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $5.50 earnings per share for the quarter, topping analysts’ consensus estimates of $3.93 by $1.57. The company had revenue of $7.14 billion for the quarter, compared to analysts’ expectations of $6.79 billion. WellCare Health Plans had a net margin of 2.34% and a return on equity of 17.00%. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same period last year, the firm posted $3.33 earnings per share. Equities research analysts expect that WellCare Health Plans, Inc. will post 15.04 earnings per share for the current fiscal year.
WCG has been the topic of a number of recent research reports. Stephens cut shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $330.00 to $317.00 in a research note on Monday, September 9th. Cantor Fitzgerald cut shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Finally, ValuEngine cut shares of WellCare Health Plans from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $304.83.
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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