Commonwealth Equity Services LLC grew its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 52.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,574 shares of the company’s stock after acquiring an additional 889 shares during the period. Commonwealth Equity Services LLC’s holdings in WellCare Health Plans were worth $824,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. CFO4Life Group LLC increased its stake in WellCare Health Plans by 9.3% in the third quarter. CFO4Life Group LLC now owns 2,055 shares of the company’s stock valued at $659,000 after purchasing an additional 174 shares during the period. Harvest Fund Management Co. Ltd grew its position in WellCare Health Plans by 55.2% during the second 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. Advisors Asset Management Inc. grew its position in WellCare Health Plans by 1.7% during the second quarter. Advisors Asset Management Inc. now owns 10,794 shares of the company’s stock worth $2,658,000 after buying an additional 182 shares during the period. Public Employees Retirement Association of Colorado grew its position in WellCare Health Plans by 2.0% during the third quarter. Public Employees Retirement Association of Colorado now owns 9,122 shares of the company’s stock worth $2,924,000 after buying an additional 183 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of WellCare Health Plans by 100.0% in the third quarter. Chicago Partners Investment Group LLC now owns 400 shares of the company’s stock valued at $117,000 after purchasing an additional 200 shares in the last quarter. 98.53% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the stock. Barclays reissued a “buy” rating and set a $325.00 price objective on shares of WellCare Health Plans in a research note on Tuesday, September 18th. Argus increased their price objective on shares of WellCare Health Plans from $265.00 to $360.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Morgan Stanley increased their price objective on shares of WellCare Health Plans from $330.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 12th. ValuEngine lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Finally, Evercore ISI initiated coverage on shares of WellCare Health Plans in a report on Tuesday, October 9th. They set an “outperform” rating and a $365.00 price target for the company. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. WellCare Health Plans presently has a consensus rating of “Buy” and an average target price of $305.20.
Shares of WCG stock opened at $261.42 on Tuesday. WellCare Health Plans, Inc. has a 1 year low of $187.06 and a 1 year high of $324.99. The firm has a market cap of $12.74 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.42 and a beta of 1.19. 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 announced its quarterly earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.09 by $0.24. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the firm posted $4.08 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. Analysts predict that WellCare Health Plans, Inc. will post 11.01 EPS for the current year.
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WellCare Health Plans Company Profile
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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