V Wealth Advisors LLC Reduces Position in WellCare Health Plans, Inc. (NYSE:WCG)

V Wealth Advisors LLC lessened its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,152 shares of the company’s stock after selling 229 shares during the period. WellCare Health Plans makes up about 0.8% of V Wealth Advisors LLC’s portfolio, making the stock its 24th biggest position. V Wealth Advisors LLC’s holdings in WellCare Health Plans were worth $2,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC grew its position in WellCare Health Plans by 766.7% during 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 last quarter. Bremer Bank National Association purchased a new stake in WellCare Health Plans during the 1st quarter worth approximately $28,000. Icon Wealth Partners LLC purchased a new stake in WellCare Health Plans during the 1st quarter worth approximately $30,000. Financial Gravity Wealth Inc. grew its position in WellCare Health Plans by 4,633.3% during the 2nd quarter. Financial Gravity Wealth Inc. now owns 142 shares of the company’s stock worth $40,000 after purchasing an additional 139 shares during the last quarter. Finally, Enterprise Financial Services Corp purchased a new stake in WellCare Health Plans during the 1st quarter worth approximately $53,000. 98.65% of the stock is currently owned by institutional investors.

Shares of WCG stock traded down $1.22 during trading hours on Friday, hitting $277.28. The company’s stock had a trading volume of 130,284 shares, compared to its average volume of 542,314. The stock has a 50 day simple moving average of $286.81. The stock has a market cap of $14.02 billion, a PE ratio of 25.14, a PEG ratio of 1.37 and a beta of 0.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.23 and a current ratio of 1.23. WellCare Health Plans, Inc. has a 12-month low of $220.63 and a 12-month high of $324.99.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, July 30th. The company reported $4.31 EPS for the quarter, beating the consensus estimate of $4.16 by $0.15. The business had revenue of $7.01 billion for the quarter, compared to the consensus estimate of $6.63 billion. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The business’s revenue for the quarter was up 51.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.69 EPS. Research analysts expect that WellCare Health Plans, Inc. will post 13.91 EPS for the current year.

WCG has been the topic of several recent research reports. BMO Capital Markets downgraded shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 price objective on the stock. in a report on Monday, June 3rd. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Credit Suisse Group initiated coverage on shares of WellCare Health Plans in a report on Monday, April 15th. They issued a “neutral” rating and a $307.00 price objective on the stock. Cantor Fitzgerald downgraded shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Co dropped their price objective on shares of WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $320.10.

WellCare Health Plans Company Profile

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

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