MUFG Securities EMEA plc Acquires Shares of 28,000 WellCare Health Plans, Inc. (NYSE:WCG)

MUFG Securities EMEA plc bought a new position in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 28,000 shares of the company’s stock, valued at approximately $7,982,000. MUFG Securities EMEA plc owned approximately 0.06% of WellCare Health Plans as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bremer Bank National Association purchased a new stake in shares of WellCare Health Plans during the first quarter valued at approximately $28,000. Icon Wealth Partners LLC bought a new position in WellCare Health Plans during the first quarter valued at about $30,000. Meeder Asset Management Inc. bought a new position in WellCare Health Plans during the second quarter valued at about $33,000. Berman Capital Advisors LLC grew its position in WellCare Health Plans by 165.3% during the second quarter. Berman Capital Advisors LLC now owns 130 shares of the company’s stock valued at $37,000 after buying an additional 81 shares during the period. Finally, Financial Gravity Wealth Inc. increased its holdings in WellCare Health Plans by 4,633.3% during the second quarter. Financial Gravity Wealth Inc. now owns 142 shares of the company’s stock worth $40,000 after buying an additional 139 shares during the last quarter. 93.04% of the stock is currently owned by hedge funds and other institutional investors.

WCG has been the topic of several research reports. Stephens lowered shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $330.00 to $317.00 in a research report on Monday. Cantor Fitzgerald downgraded shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Finally, BMO Capital Markets lowered shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 price target for the company. in a research note on Monday, June 3rd. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $320.22.

WCG traded down $2.01 during trading hours on Wednesday, hitting $272.11. The stock had a trading volume of 345,224 shares, compared to its average volume of 344,953. WellCare Health Plans, Inc. has a 1 year low of $220.63 and a 1 year high of $324.99. The company’s fifty day simple moving average is $275.89 and its 200 day simple moving average is $272.28. The stock has a market cap of $13.58 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 1.33 and a beta of 0.95. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.45.

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 Thomson Reuters’ 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 company’s revenue was up 51.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.69 earnings per share. As a group, equities analysts expect that WellCare Health Plans, Inc. will post 13.91 EPS for the current year.

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

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