Courier Capital LLC bought a new stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 767 shares of the company’s stock, valued at approximately $246,000.
Other hedge funds have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd grew its holdings in shares of WellCare Health Plans by 55.2% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock valued at $126,000 after purchasing an additional 182 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of WellCare Health Plans by 98.9% during 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 during the last quarter. Cerebellum GP LLC bought a new position in shares of WellCare Health Plans during the 3rd quarter valued at $191,000. Jaffetilchin Investment Partners LLC bought a new position in shares of WellCare Health Plans during the 3rd quarter valued at $202,000. Finally, Tdam USA Inc. bought a new position in shares of WellCare Health Plans during the 2nd quarter valued at $205,000. 97.38% of the stock is currently owned by institutional investors.
Shares of WellCare Health Plans stock opened at $307.77 on Friday. The firm has a market capitalization of $14.35 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 1.92 and a beta of 1.02. WellCare Health Plans, Inc. has a 12-month low of $162.25 and a 12-month high of $324.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.27 and a current ratio of 1.27.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.03 by $0.66. The business had revenue of $4.64 billion for the quarter, compared to analyst estimates of $4.65 billion. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. The company’s revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.52 EPS. Research analysts expect that WellCare Health Plans, Inc. will post 10.85 earnings per share for the current fiscal year.
Several equities analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of WellCare Health Plans from a “neutral” rating to an “overweight” rating and increased their target price for the company from $223.00 to $287.00 in a report on Wednesday, June 27th. Barclays reaffirmed a “buy” rating and set a $338.00 target price on shares of WellCare Health Plans in a report on Friday, September 28th. Evercore ISI assumed coverage on shares of WellCare Health Plans in a report on Tuesday. They set an “outperform” rating and a $365.00 target price on the stock. Wells Fargo & Co reissued a “buy” rating on shares of WellCare Health Plans in a report on Tuesday, July 31st. Finally, Morgan Stanley raised their price target on shares of WellCare Health Plans from $258.00 to $280.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. WellCare Health Plans currently has a consensus rating of “Buy” and a consensus price target of $296.00.
About WellCare Health Plans
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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