Oakbrook Investments LLC trimmed its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 49.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,675 shares of the company’s stock after selling 2,575 shares during the quarter. Oakbrook Investments LLC’s holdings in WellCare Health Plans were worth $763,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. FMR LLC increased its holdings in WellCare Health Plans by 118.1% during the fourth quarter. FMR LLC now owns 2,876,051 shares of the company’s stock valued at $679,007,000 after buying an additional 1,557,652 shares during the period. Norges Bank purchased a new position in WellCare Health Plans during the fourth quarter valued at approximately $147,415,000. TimesSquare Capital Management LLC increased its holdings in WellCare Health Plans by 32.1% during the first quarter. TimesSquare Capital Management LLC now owns 528,900 shares of the company’s stock valued at $142,671,000 after buying an additional 128,370 shares during the period. Artisan Partners Limited Partnership increased its holdings in WellCare Health Plans by 7.1% during the first quarter. Artisan Partners Limited Partnership now owns 431,116 shares of the company’s stock valued at $116,294,000 after buying an additional 28,438 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in WellCare Health Plans by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 384,751 shares of the company’s stock valued at $90,830,000 after buying an additional 7,331 shares during the period. 98.66% of the stock is currently owned by institutional investors.
Several research firms have issued reports on WCG. Wells Fargo & Co reaffirmed a “hold” rating and issued a $11.00 price target on shares of Coty in a report on Wednesday, May 8th. Credit Suisse Group lifted their price target on shares of JPMorgan Chase & Co. from $128.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Zacks Investment Research lowered shares of Genprex from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. Finally, BMO Capital Markets set a C$106.00 price target on shares of FirstService and gave the stock a “market perform” rating in a report on Monday, June 3rd. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. WellCare Health Plans presently has an average rating of “Buy” and a consensus price target of $311.85.
Shares of WCG traded up $1.63 during trading hours on Tuesday, reaching $286.90. 23,747 shares of the company traded hands, compared to its average volume of 472,941. The company has a market capitalization of $14.43 billion, a PE ratio of 26.00, a P/E/G ratio of 1.42 and a beta of 0.99. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.48. WellCare Health Plans, Inc. has a 12-month low of $220.63 and a 12-month high of $324.99. The stock has a fifty day simple moving average of $287.91.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.59. The firm had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.56 billion. WellCare Health Plans had a net margin of 2.17% and a return on equity of 15.47%. The business’s quarterly revenue was up 45.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 earnings per share. On average, analysts anticipate that WellCare Health Plans, Inc. will post 13.87 EPS for the current fiscal year.
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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