WellCare Health Plans (WCG) Sees Large Volume Increase

Shares of WellCare Health Plans, Inc. (NYSE:WCG) saw unusually-strong trading volume on Friday . Approximately 4,145,796 shares traded hands during trading, an increase of 641% from the previous session’s volume of 559,214 shares.The stock last traded at $254.88 and had previously closed at $248.82.

A number of equities research analysts have commented on WCG shares. Barclays reissued a “buy” rating and set a $325.00 price objective on shares of WellCare Health Plans in a report on Tuesday, September 18th. BMO Capital Markets set a $345.00 price objective on shares of WellCare Health Plans and gave the stock a “buy” rating in a report on Friday, September 14th. Morgan Stanley raised their target price on shares of WellCare Health Plans from $280.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 5th. Argus raised their target price on shares of WellCare Health Plans from $265.00 to $360.00 and gave the company a “buy” rating in a research note on Friday, August 31st. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of WellCare Health Plans in a research note on Wednesday, September 26th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $305.20.

The company has a market cap of $12.59 billion, a PE ratio of 29.92, a PEG ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.32 and a current ratio of 1.32.

WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.24. The company had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.08 EPS. On average, equities analysts predict that WellCare Health Plans, Inc. will post 11.01 earnings per share for the current year.

In related news, EVP Yount Michael sold 500 shares of WellCare Health Plans stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $263.38, for a total transaction of $131,690.00. Following the transaction, the executive vice president now owns 7,044 shares of the company’s stock, valued at approximately $1,855,248.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard C. Breon sold 2,500 shares of WellCare Health Plans stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $239.96, for a total transaction of $599,900.00. Following the transaction, the director now directly owns 6,406 shares in the company, valued at approximately $1,537,183.76. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Private Capital Group LLC boosted its stake in WellCare Health Plans by 234.0% during the 3rd quarter. Private Capital Group LLC now owns 334 shares of the company’s stock worth $107,000 after acquiring an additional 234 shares during the last quarter. Financial Gravity Wealth Inc. raised its holdings in WellCare Health Plans by 3,977.8% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock worth $107,000 after buying an additional 358 shares during the period. Chicago Partners Investment Group LLC raised its holdings in WellCare Health Plans by 100.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 400 shares of the company’s stock worth $117,000 after buying an additional 200 shares during the period. Harvest Fund Management Co. Ltd raised its holdings in WellCare Health Plans by 55.2% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock worth $126,000 after buying an additional 182 shares during the period. Finally, Nordea Investment Management AB acquired a new stake in WellCare Health Plans during the 3rd quarter worth approximately $173,000. 88.63% of the stock is currently owned by institutional investors and hedge funds.

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About WellCare Health Plans (NYSE:WCG)

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare 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 for qualifying families who are not eligible for Medicaid.

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