Northern Trust Corp boosted its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 553,527 shares of the company’s stock after purchasing an additional 19,411 shares during the period. Northern Trust Corp owned approximately 1.10% of WellCare Health Plans worth $157,794,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of WCG. Envestnet Asset Management Inc. lifted its position in WellCare Health Plans by 3.9% during the first quarter. Envestnet Asset Management Inc. now owns 22,170 shares of the company’s stock valued at $5,980,000 after purchasing an additional 831 shares during the period. Eagle Asset Management Inc. raised its position in WellCare Health Plans by 0.8% in the second quarter. Eagle Asset Management Inc. now owns 233,928 shares of the company’s stock worth $66,685,000 after acquiring an additional 1,962 shares during the period. Jennison Associates LLC bought a new position in WellCare Health Plans in the first quarter worth approximately $79,297,000. Dupont Capital Management Corp bought a new position in WellCare Health Plans in the second quarter worth approximately $458,000. Finally, Tiverton Asset Management LLC raised its position in WellCare Health Plans by 76.7% in the second quarter. Tiverton Asset Management LLC now owns 14,809 shares of the company’s stock worth $4,222,000 after acquiring an additional 6,427 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE WCG traded down $6.16 during midday trading on Thursday, reaching $266.16. The stock had a trading volume of 18,283 shares, compared to its average volume of 822,292. The stock has a 50-day moving average of $275.63 and a 200-day moving average of $272.26. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.33 and a beta of 0.95. WellCare Health Plans, Inc. has a 12-month low of $220.63 and a 12-month high of $324.99.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $4.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.16 by $0.15. The firm had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.63 billion. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The company’s revenue for the quarter was up 51.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.69 earnings per share. As a group, analysts forecast that WellCare Health Plans, Inc. will post 13.91 EPS for the current fiscal year.
Several research analysts have weighed in on WCG shares. Stephens downgraded shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $330.00 to $317.00 in a research report on Monday. BMO Capital Markets downgraded shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 price target on the stock. in a research report on Monday, June 3rd. Finally, Cantor Fitzgerald downgraded shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $320.22.
WellCare Health Plans Company 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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