WellCare Health Plans, Inc. (WCG) Position Reduced by M&T Bank Corp

M&T Bank Corp lessened its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,315 shares of the company’s stock after selling 426 shares during the quarter. M&T Bank Corp’s holdings in WellCare Health Plans were worth $1,963,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Rhumbline Advisers grew its holdings in WellCare Health Plans by 3.0% during the 3rd quarter. Rhumbline Advisers now owns 101,936 shares of the company’s stock worth $32,669,000 after acquiring an additional 2,976 shares in the last quarter. Alpine Global Management LLC bought a new position in WellCare Health Plans during the 3rd quarter worth about $2,142,000. Schroder Investment Management Group grew its holdings in WellCare Health Plans by 1,399.6% during the 3rd quarter. Schroder Investment Management Group now owns 87,245 shares of the company’s stock worth $27,961,000 after acquiring an additional 81,427 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in WellCare Health Plans by 14.8% during the 4th quarter. Wedge Capital Management L L P NC now owns 138,198 shares of the company’s stock worth $32,627,000 after acquiring an additional 17,862 shares in the last quarter. Finally, Picton Mahoney Asset Management grew its holdings in WellCare Health Plans by 65.5% during the 3rd quarter. Picton Mahoney Asset Management now owns 11,585 shares of the company’s stock worth $3,713,000 after acquiring an additional 4,585 shares in the last quarter. 98.49% of the stock is currently owned by institutional investors.

NYSE:WCG opened at $268.21 on Wednesday. WellCare Health Plans, Inc. has a fifty-two week low of $188.32 and a fifty-two week high of $324.99. The stock has a market capitalization of $13.87 billion, a PE ratio of 24.32, a PEG ratio of 1.21 and a beta of 1.21. The company has a current ratio of 1.36, a quick ratio of 1.32 and a debt-to-equity ratio of 0.50.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Tuesday, February 5th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.08. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.85 billion. WellCare Health Plans had a net margin of 2.15% and a return on equity of 15.39%. The company’s revenue was up 37.5% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. As a group, equities research analysts forecast that WellCare Health Plans, Inc. will post 13.62 EPS for the current year.

Several research analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of WellCare Health Plans to $330.00 and gave the stock an “outperform” rating in a report on Wednesday, February 6th. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Thursday, December 13th. Cantor Fitzgerald restated a “buy” rating and issued a $330.00 price target on shares of WellCare Health Plans in a report on Monday, December 17th. Wolfe Research upgraded shares of WellCare Health Plans from a “market perform” rating to an “outperform” rating in a report on Thursday, January 3rd. Finally, ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Tuesday, November 20th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $306.43.

In other WellCare Health Plans news, Director H James Dallas purchased 1,171 shares of WellCare Health Plans stock in a transaction on Tuesday, December 4th. The stock was bought at an average cost of $256.35 per share, with a total value of $300,185.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Robert Polen sold 3,000 shares of WellCare Health Plans stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $256.85, for a total transaction of $770,550.00. The disclosure for this sale can be found here. Insiders sold a total of 7,147 shares of company stock valued at $1,792,477 over the last quarter. 0.59% of the stock is owned by company insiders.

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

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