Insider Selling: WellCare Health Plans, Inc. (WCG) Director Sells $386,234.76 in Stock

WellCare Health Plans, Inc. (NYSE:WCG) Director Kevin F. Hickey sold 2,707 shares of the stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $142.68, for a total value of $386,234.76. Following the sale, the director now owns 17,989 shares in the company, valued at approximately $2,566,670.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

WellCare Health Plans, Inc. (NYSE:WCG) opened at 141.05 on Tuesday. The firm has a market cap of $6.25 billion, a price-to-earnings ratio of 25.98 and a beta of 1.00. WellCare Health Plans, Inc. has a 52 week low of $86.75 and a 52 week high of $151.93. The stock’s 50 day moving average price is $143.18 and its 200 day moving average price is $131.00.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, February 7th. The company reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.51. The firm earned $3.52 billion during the quarter, compared to analysts’ expectations of $3.56 billion. WellCare Health Plans had a return on equity of 14.01% and a net margin of 1.70%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. On average, equities research analysts predict that WellCare Health Plans, Inc. will post $6.31 EPS for the current year.

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WCG has been the topic of several research analyst reports. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $162.00 target price on the stock in a report on Wednesday, March 8th. Barclays PLC increased their target price on WellCare Health Plans from $146.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. Stifel Nicolaus cut WellCare Health Plans from a “buy” rating to a “hold” rating and set a $147.00 target price on the stock. in a report on Wednesday, January 4th. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating and set a $137.00 target price (up previously from $134.00) on shares of WellCare Health Plans in a report on Wednesday, December 21st. Finally, Cantor Fitzgerald restated a “hold” rating on shares of WellCare Health Plans in a report on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $132.18.

A number of institutional investors have recently made changes to their positions in WCG. JPMorgan Chase & Co. boosted its position in shares of WellCare Health Plans by 30.3% in the third quarter. JPMorgan Chase & Co. now owns 1,988,127 shares of the company’s stock valued at $232,789,000 after buying an additional 462,749 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of WellCare Health Plans by 29.2% in the fourth quarter. AQR Capital Management LLC now owns 1,780,270 shares of the company’s stock valued at $244,040,000 after buying an additional 402,249 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of WellCare Health Plans by 2.6% in the third quarter. BlackRock Fund Advisors now owns 1,721,793 shares of the company’s stock valued at $201,605,000 after buying an additional 43,724 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of WellCare Health Plans by 18.0% in the third quarter. Acadian Asset Management LLC now owns 1,689,536 shares of the company’s stock valued at $197,830,000 after buying an additional 257,930 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of WellCare Health Plans by 2.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,352,294 shares of the company’s stock valued at $158,340,000 after buying an additional 33,610 shares in the last quarter.

About WellCare Health Plans

WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

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