PointState Capital LP Invests $2.08 Million in WellCare Health Plans, Inc. (WCG) Stock

PointState Capital LP acquired a new position in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,500 shares of the company’s stock, valued at approximately $2,083,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of WellCare Health Plans in the 2nd quarter valued at about $252,000. Commonwealth Equity Services LLC purchased a new stake in shares of WellCare Health Plans in the 2nd quarter valued at about $415,000. Smith Asset Management Group LP purchased a new stake in shares of WellCare Health Plans in the 2nd quarter valued at about $45,200,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of WellCare Health Plans in the 2nd quarter valued at about $893,000. Finally, Sei Investments Co. raised its holdings in shares of WellCare Health Plans by 49.2% in the 2nd quarter. Sei Investments Co. now owns 33,348 shares of the company’s stock valued at $8,211,000 after acquiring an additional 10,991 shares in the last quarter. 98.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE WCG opened at $237.03 on Friday. The stock has a market cap of $11.85 billion, a P/E ratio of 24.16, a PEG ratio of 1.32 and a beta of 1.18. 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, Inc. has a 1-year low of $187.06 and a 1-year high of $324.99.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.24. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.06 billion. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. WellCare Health Plans’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period last year, the firm posted $4.08 EPS. As a group, equities analysts expect that WellCare Health Plans, Inc. will post 11.01 earnings per share for the current year.

In related news, Director Richard C. Breon sold 2,500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,537,183.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Robert Polen sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $256.85, for a total value of $770,550.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,647 shares of company stock worth $1,924,167. 0.59% of the stock is currently owned by insiders.

Several analysts have weighed in on WCG shares. Barclays reaffirmed a “buy” rating and issued a $325.00 price target on shares of WellCare Health Plans in a report on Tuesday, September 18th. BMO Capital Markets set a $345.00 price target on WellCare Health Plans and gave the company a “buy” rating in a report on Friday, September 14th. Morgan Stanley raised their price target on WellCare Health Plans from $280.00 to $330.00 and gave the company an “equal weight” rating in a report on Wednesday, September 5th. Argus raised their price target on WellCare Health Plans from $265.00 to $360.00 and gave the company a “buy” rating in a report on Friday, August 31st. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of WellCare Health Plans in a report on Wednesday, September 26th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $303.60.

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WellCare Health Plans 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.

Read More: Balanced Fund

Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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