WellCare Health Plans, Inc. (NYSE:WCG) is TIG Advisors LLC’s 9th Largest Position

TIG Advisors LLC lifted its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 485.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,625 shares of the company’s stock after purchasing an additional 186,250 shares during the period. WellCare Health Plans accounts for approximately 2.8% of TIG Advisors LLC’s holdings, making the stock its 9th largest position. TIG Advisors LLC’s holdings in WellCare Health Plans were worth $64,034,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of WCG. Magnus Financial Group LLC increased its stake in WellCare Health Plans by 4.3% in the 2nd quarter. Magnus Financial Group LLC now owns 954 shares of the company’s stock worth $272,000 after buying an additional 39 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of WellCare Health Plans by 1.3% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,150 shares of the company’s stock valued at $850,000 after purchasing an additional 40 shares in the last quarter. World Asset Management Inc grew its position in shares of WellCare Health Plans by 1.6% during the second quarter. World Asset Management Inc now owns 3,635 shares of the company’s stock valued at $1,036,000 after purchasing an additional 58 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in shares of WellCare Health Plans by 0.8% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 7,596 shares of the company’s stock valued at $2,049,000 after purchasing an additional 62 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its position in shares of WellCare Health Plans by 4.0% during the first quarter. Great Lakes Advisors LLC now owns 1,856 shares of the company’s stock valued at $501,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Shares of NYSE:WCG traded down $0.61 during trading on Friday, reaching $269.43. The company’s stock had a trading volume of 350,039 shares, compared to its average volume of 400,659. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.45. WellCare Health Plans, Inc. has a 12 month low of $220.63 and a 12 month high of $324.99. The firm’s 50 day simple moving average is $272.55 and its two-hundred day simple moving average is $272.26. The stock has a market capitalization of $13.45 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.31 and a beta of 0.95.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $4.31 EPS for the quarter, beating the Zacks’ consensus estimate of $4.16 by $0.15. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The firm had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter last year, the firm earned $3.69 EPS. The firm’s revenue for the quarter was up 51.1% compared to the same quarter last year. Research analysts anticipate that WellCare Health Plans, Inc. will post 14.01 EPS for the current fiscal year.

WCG has been the subject of a number of research analyst reports. BMO Capital Markets lowered WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 price objective for the company. in a research report on Monday, June 3rd. Cantor Fitzgerald lowered WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Finally, Stephens lowered WellCare Health Plans from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $330.00 to $317.00 in a research report on Monday, September 9th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $316.50.

WellCare Health Plans Profile

WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (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 programs 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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