IBM Retirement Fund purchased a new position in shares of WellCare Health Plans Inc. (NYSE:WCG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,471 shares of the company’s stock, valued at approximately $480,000.
A number of other large investors have also recently added to or reduced their stakes in WCG. Acrospire Investment Management LLC purchased a new stake in WellCare Health Plans during the first quarter worth about $214,000. MAI Capital Management purchased a new stake in WellCare Health Plans during the second quarter worth about $223,000. Algert Global LLC purchased a new stake in WellCare Health Plans during the first quarter worth about $422,000. Capstone Asset Management Co. boosted its stake in WellCare Health Plans by 42.6% in the second quarter. Capstone Asset Management Co. now owns 4,383 shares of the company’s stock worth $470,000 after buying an additional 1,310 shares during the period. Finally, Aperio Group LLC boosted its stake in WellCare Health Plans by 22.1% in the first quarter. Aperio Group LLC now owns 5,858 shares of the company’s stock worth $543,000 after buying an additional 1,061 shares during the period.
WellCare Health Plans Inc. (NYSE:WCG) traded down 0.25% during mid-day trading on Friday, hitting $115.28. 339,519 shares of the stock traded hands. The firm has a market cap of $5.10 billion, a P/E ratio of 28.81 and a beta of 1.32. WellCare Health Plans Inc. has a 52 week low of $69.16 and a 52 week high of $117.51. The firm’s 50-day moving average price is $113.79 and its 200-day moving average price is $102.69.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, August 2nd. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.40 by $0.83. The company earned $3.59 billion during the quarter, compared to analysts’ expectations of $3.53 billion. WellCare Health Plans had a net margin of 1.26% and a return on equity of 12.33%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 EPS. On average, equities analysts forecast that WellCare Health Plans Inc. will post $5.04 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $119.00 target price (down previously from $126.00) on shares of WellCare Health Plans in a research note on Wednesday, August 3rd. Credit Suisse Group AG reiterated a “sell” rating and issued a $100.00 target price on shares of WellCare Health Plans in a research note on Tuesday, August 30th. Leerink Swann reiterated an “outperform” rating and issued a $110.00 target price on shares of WellCare Health Plans in a research note on Wednesday, June 15th. Cantor Fitzgerald reiterated a “hold” rating and issued a $90.00 target price (up previously from $85.00) on shares of WellCare Health Plans in a research note on Friday, June 24th. Finally, Jefferies Group reiterated a “hold” rating and issued a $105.00 target price (up previously from $101.00) on shares of WellCare Health Plans in a research note on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $101.30.
In other news, Director Glenn Md Phd Steele, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $114.86, for a total value of $1,148,600.00. Following the completion of the transaction, the director now directly owns 10,852 shares in the company, valued at approximately $1,246,460.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by insiders.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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