Moody Aldrich Partners LLC decreased its position in WellCare Health Plans Inc. (NYSE:WCG) by 42.2% during the second quarter, Holdings Channel reports. The firm owned 6,310 shares of the company’s stock after selling 4,600 shares during the period. Moody Aldrich Partners LLC’s holdings in WellCare Health Plans were worth $677,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of WCG. Acrospire Investment Management LLC acquired a new stake in WellCare Health Plans during the first quarter worth $214,000. MAI Capital Management acquired a new stake in WellCare Health Plans during the second quarter worth $223,000. LS Investment Advisors LLC increased its stake in WellCare Health Plans by 67.7% in the second quarter. LS Investment Advisors LLC now owns 2,944 shares of the company’s stock worth $316,000 after buying an additional 1,189 shares during the period. Algert Global LLC acquired a new stake in WellCare Health Plans during the first quarter worth $422,000. Finally, Adams Diversified Equity Fund Inc. acquired a new stake in WellCare Health Plans during the second quarter worth $451,000.
Shares of WellCare Health Plans Inc. (NYSE:WCG) traded down 0.29% on Monday, reaching $114.94. 208,549 shares of the company traded hands. WellCare Health Plans Inc. has a one year low of $69.16 and a one year high of $117.51. The company has a market capitalization of $5.09 billion, a PE ratio of 28.72 and a beta of 1.32. The firm has a 50-day moving average price of $113.83 and a 200 day moving average price of $103.09.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $2.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.83. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.53 billion. WellCare Health Plans had a net margin of 1.26% and a return on equity of 12.33%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. Equities analysts forecast that WellCare Health Plans Inc. will post $5.04 EPS for the current fiscal year.
A number of brokerages recently issued reports on WCG. Wedbush restated a “neutral” rating and set a $119.00 price objective (down previously from $126.00) on shares of WellCare Health Plans in a report on Wednesday, August 3rd. Credit Suisse Group AG restated a “sell” rating and set a $100.00 price objective on shares of WellCare Health Plans in a report on Tuesday, August 30th. Leerink Swann restated an “outperform” rating and set a $110.00 price objective on shares of WellCare Health Plans in a report on Wednesday, June 15th. Cantor Fitzgerald restated a “hold” rating and set a $90.00 price objective (up previously from $85.00) on shares of WellCare Health Plans in a report on Friday, June 24th. Finally, Jefferies Group restated a “hold” rating and set a $105.00 price objective (up previously from $101.00) on shares of WellCare Health Plans in a report on Monday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $101.30.
In related news, Director Glenn Md Phd Steele, Jr. sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 10,852 shares of the company’s stock, valued at approximately $1,246,460.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by corporate insiders.
About WellCare Health Plans
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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