Point72 Asset Management L.P. raised its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 118.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,557 shares of the company’s stock after purchasing an additional 130,357 shares during the period. Point72 Asset Management L.P. owned about 0.54% of WellCare Health Plans worth $46,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. raised its position in WellCare Health Plans by 98.9% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock valued at $108,000 after purchasing an additional 279 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of WellCare Health Plans by 593.2% in the 4th quarter. Bessemer Group Inc. now owns 818 shares of the company’s stock valued at $165,000 after acquiring an additional 700 shares during the last quarter. Gotham Asset Management LLC purchased a new position in shares of WellCare Health Plans in the 4th quarter valued at about $202,000. Mackenzie Financial Corp purchased a new position in shares of WellCare Health Plans in the 4th quarter valued at about $202,000. Finally, MANA Advisors LLC purchased a new position in shares of WellCare Health Plans in the 1st quarter valued at about $205,000. 96.84% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded WellCare Health Plans from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $223.00 to $287.00 in a report on Wednesday. SunTrust Banks assumed coverage on WellCare Health Plans in a report on Monday, June 11th. They issued a “buy” rating and a $270.00 price objective on the stock. Argus assumed coverage on WellCare Health Plans in a report on Thursday, June 7th. They issued a “buy” rating and a $265.00 price objective on the stock. ValuEngine upgraded WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. Finally, Morgan Stanley increased their price objective on WellCare Health Plans from $228.00 to $237.00 and gave the company an “equal weight” rating in a report on Wednesday, May 30th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. WellCare Health Plans presently has an average rating of “Buy” and a consensus price target of $240.35.
Shares of WellCare Health Plans opened at $246.24 on Friday, MarketBeat Ratings reports. WellCare Health Plans, Inc. has a twelve month low of $162.25 and a twelve month high of $247.94. The company has a market capitalization of $10.84 billion, a price-to-earnings ratio of 28.90, a P/E/G ratio of 1.62 and a beta of 0.94. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47.
WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, May 1st. The company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.52. WellCare Health Plans had a return on equity of 17.99% and a net margin of 2.31%. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the business posted $1.61 EPS. The company’s revenue was up 17.5% on a year-over-year basis. equities analysts expect that WellCare Health Plans, Inc. will post 10.27 EPS for the current year.
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.
Receive News & Ratings for WellCare Health Plans Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans and related companies with MarketBeat.com's FREE daily email newsletter.