WellCare Health Plans, Inc. (WCG) Shares Sold by Fmr LLC

Fmr LLC trimmed its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 8.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 358,471 shares of the company’s stock after selling 35,055 shares during the period. Fmr LLC owned 0.80% of WellCare Health Plans worth $88,270,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Acadian Asset Management LLC grew its position in WellCare Health Plans by 3.6% during the 2nd quarter. Acadian Asset Management LLC now owns 1,652,077 shares of the company’s stock worth $406,808,000 after purchasing an additional 56,649 shares in the last quarter. American Century Companies Inc. grew its position in WellCare Health Plans by 28.8% during the 2nd quarter. American Century Companies Inc. now owns 1,337,459 shares of the company’s stock worth $329,336,000 after purchasing an additional 299,273 shares in the last quarter. Bank of New York Mellon Corp grew its position in WellCare Health Plans by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,077,020 shares of the company’s stock worth $265,204,000 after purchasing an additional 21,813 shares in the last quarter. OppenheimerFunds Inc. grew its position in WellCare Health Plans by 25.8% during the 2nd quarter. OppenheimerFunds Inc. now owns 450,474 shares of the company’s stock worth $110,923,000 after purchasing an additional 92,269 shares in the last quarter. Finally, Redmile Group LLC grew its position in WellCare Health Plans by 3.7% during the 2nd quarter. Redmile Group LLC now owns 355,009 shares of the company’s stock worth $87,417,000 after purchasing an additional 12,700 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.

Shares of NYSE:WCG opened at $273.32 on Friday. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of 32.08, a P/E/G ratio of 1.53 and a beta of 1.23. WellCare Health Plans, Inc. has a 12-month low of $187.06 and a 12-month high of $324.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.32.

WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.09 by $0.24. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $4.08 EPS. Equities analysts forecast that WellCare Health Plans, Inc. will post 11.01 EPS for the current fiscal year.

In other WellCare Health Plans news, EVP Yount Michael sold 500 shares of WellCare Health Plans stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $263.38, for a total transaction of $131,690.00. Following the completion of the sale, the executive vice president now owns 7,044 shares of the company’s stock, valued at approximately $1,855,248.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.59% of the company’s stock.

WCG has been the topic of several research analyst reports. Barclays reiterated a “buy” rating and set a $325.00 price objective on shares of WellCare Health Plans in a research report on Tuesday, September 18th. Morgan Stanley lifted their price objective on shares of WellCare Health Plans from $280.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 5th. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. BMO Capital Markets set a $345.00 price objective on shares of WellCare Health Plans and gave the stock a “buy” rating in a research report on Friday, September 14th. Finally, Argus lifted their price objective on shares of WellCare Health Plans from $265.00 to $360.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $301.13.

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About WellCare Health Plans

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.

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

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