WellCare Health Plans, Inc. (NYSE:WCG) Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the completion of the transaction, the director now directly owns 5,722 shares of the company’s stock, valued at $984,012.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
WellCare Health Plans, Inc. (WCG) traded up 1.13% on Monday, reaching $174.33. 124,420 shares of the company’s stock traded hands. WellCare Health Plans, Inc. has a 52 week low of $109.74 and a 52 week high of $184.88. The firm has a 50-day moving average price of $179.43 and a 200-day moving average price of $161.01. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 30.63 and a beta of 0.84.
WellCare Health Plans (NYSE:WCG) last issued its earnings results on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period last year, the company earned $2.23 EPS. The company’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts predict that WellCare Health Plans, Inc. will post $6.99 earnings per share for the current year.
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Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of WellCare Health Plans by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock worth $621,956,000 after buying an additional 231,890 shares during the period. BlackRock Inc. increased its stake in shares of WellCare Health Plans by 1.6% in the second quarter. BlackRock Inc. now owns 4,260,559 shares of the company’s stock worth $765,026,000 after buying an additional 65,439 shares during the period. AQR Capital Management LLC increased its stake in shares of WellCare Health Plans by 18.8% in the first quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock worth $296,455,000 after buying an additional 334,095 shares during the period. Acadian Asset Management LLC increased its stake in shares of WellCare Health Plans by 1.8% in the second quarter. Acadian Asset Management LLC now owns 1,544,686 shares of the company’s stock worth $277,365,000 after buying an additional 27,855 shares during the period. Finally, Capital Research Global Investors bought a new stake in shares of WellCare Health Plans during the second quarter worth about $170,042,000. 98.85% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on WCG shares. Jefferies Group LLC reissued a “hold” rating and issued a $142.00 target price on shares of WellCare Health Plans in a report on Wednesday, April 19th. Morgan Stanley started coverage on shares of WellCare Health Plans in a report on Tuesday, June 6th. They issued an “equal weight” rating and a $183.00 target price for the company. Leerink Swann reissued an “outperform” rating and issued a $225.00 target price (up from $185.00) on shares of WellCare Health Plans in a report on Thursday, June 22nd. Deutsche Bank AG raised their target price on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Finally, Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 target price for the company in a report on Friday. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. WellCare Health Plans presently has an average rating of “Hold” and a consensus target price of $172.00.
About WellCare Health Plans
WellCare Health Plans, Inc is a managed care company. The Company focuses 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 medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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