WellCare Health Plans, Inc. (WCG) Position Lowered by Columbus Circle Investors

Columbus Circle Investors reduced its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 14.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 450,497 shares of the company’s stock after selling 77,726 shares during the period. Columbus Circle Investors’ holdings in WellCare Health Plans were worth $63,164,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Capstone Asset Management Co. boosted its stake in shares of WellCare Health Plans by 1.4% in the third quarter. Capstone Asset Management Co. now owns 4,443 shares of the company’s stock worth $520,000 after buying an additional 60 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in shares of WellCare Health Plans during the third quarter worth approximately $266,000. Boston Advisors LLC boosted its stake in shares of WellCare Health Plans by 888.1% in the third quarter. Boston Advisors LLC now owns 141,934 shares of the company’s stock worth $16,619,000 after buying an additional 127,569 shares in the last quarter. Chicago Equity Partners LLC boosted its stake in shares of WellCare Health Plans by 385.5% in the third quarter. Chicago Equity Partners LLC now owns 116,310 shares of the company’s stock worth $13,619,000 after buying an additional 92,355 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in shares of WellCare Health Plans by 1.7% in the third quarter. First Citizens Bank & Trust Co. now owns 2,229 shares of the company’s stock worth $261,000 after buying an additional 38 shares in the last quarter.

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

WellCare Health Plans, Inc. (NYSE:WCG) traded up 1.33% during trading on Thursday, reaching $150.27. 200,467 shares of the company were exchanged. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 27.67 and a beta of 1.00. The firm’s 50 day moving average price is $142.38 and its 200-day moving average price is $135.65. WellCare Health Plans, Inc. has a one year low of $86.75 and a one year high of $151.93.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, February 7th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.51. WellCare Health Plans had a net margin of 1.70% and a return on equity of 14.01%. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that WellCare Health Plans, Inc. will post $6.32 earnings per share for the current year.

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A number of analysts have recently issued reports on the stock. Jefferies Group LLC restated a “hold” rating and set a $142.00 target price on shares of WellCare Health Plans in a research note on Wednesday. Stifel Nicolaus cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating and set a $147.00 target price for the company. in a research note on Wednesday, January 4th. They noted that the move was a valuation call. Cantor Fitzgerald restated a “hold” rating on shares of WellCare Health Plans in a research note on Tuesday, February 7th. Deutsche Bank AG assumed coverage on shares of WellCare Health Plans in a research note on Wednesday, April 5th. They set a “buy” rating and a $168.00 target price for the company. Finally, Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $162.00 target price for the company in a research note on Wednesday, March 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $135.17.

In related news, Director Kevin F. Hickey sold 2,707 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $142.68, for a total value of $386,234.76. Following the transaction, the director now directly owns 17,989 shares in the company, valued at $2,566,670.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Roel C. Campos sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $143.41, for a total transaction of $860,460.00. Following the completion of the transaction, the director now owns 9,861 shares in the company, valued at $1,414,166.01. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

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.

5 Day Chart for NYSE:WCG

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