NN Investment Partners Holdings N.V. Takes Position in WellCare Health Plans, Inc. (NYSE:WCG)

NN Investment Partners Holdings N.V. purchased a new stake in WellCare Health Plans, Inc. (NYSE:WCG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,106 shares of the company’s stock, valued at approximately $737,000.

Several other large investors also recently added to or reduced their stakes in the company. Sapphire Star Partners LP bought a new stake in WellCare Health Plans during the first quarter valued at approximately $237,000. Sawgrass Asset Management LLC boosted its stake in WellCare Health Plans by 21.1% in the first quarter. Sawgrass Asset Management LLC now owns 11,825 shares of the company’s stock valued at $1,658,000 after buying an additional 2,060 shares during the period. Glen Harbor Capital Management LLC boosted its stake in WellCare Health Plans by 68.9% in the first quarter. Glen Harbor Capital Management LLC now owns 60,060 shares of the company’s stock valued at $8,421,000 after buying an additional 24,500 shares during the period. First Citizens Bank & Trust Co. boosted its stake in WellCare Health Plans by 62.5% in the first quarter. First Citizens Bank & Trust Co. now owns 2,483 shares of the company’s stock valued at $348,000 after buying an additional 955 shares during the period. Finally, Profund Advisors LLC boosted its stake in WellCare Health Plans by 6.5% in the first quarter. Profund Advisors LLC now owns 7,049 shares of the company’s stock valued at $988,000 after buying an additional 429 shares during the period. Institutional investors and hedge funds own 98.85% of the company’s stock.

WellCare Health Plans, Inc. (NYSE:WCG) traded down 1.25% during mid-day trading on Friday, reaching $173.56. The company’s stock had a trading volume of 222,027 shares. The firm has a 50 day moving average price of $178.79 and a 200-day moving average price of $161.63. WellCare Health Plans, Inc. has a 1-year low of $109.74 and a 1-year high of $184.88. The company has a market capitalization of $7.72 billion, a PE ratio of 30.49 and a beta of 0.84.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the business earned $2.23 EPS. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities analysts predict that WellCare Health Plans, Inc. will post $6.99 EPS for the current fiscal year.

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Several research firms have recently commented on WCG. Leerink Swann restated an “outperform” rating and set a $225.00 price target (up previously from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Credit Suisse Group reaffirmed a “neutral” rating and set a $163.00 price objective (up previously from $155.00) on shares of WellCare Health Plans in a report on Thursday, July 13th. Deutsche Bank AG upped their price objective on WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Finally, Bank of America Corporation upped their price objective on WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a report on Friday, July 14th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. WellCare Health Plans has an average rating of “Hold” and a consensus target price of $172.00.

In related news, CFO Andrew Lynn Asher sold 7,314 shares of WellCare Health Plans stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $175.04, for a total value of $1,280,242.56. Following the transaction, the chief financial officer now directly owns 13,244 shares in the company, valued at approximately $2,318,229.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $171.97, for a total value of $1,440,076.78. Following the completion of the transaction, the director now owns 5,722 shares in the company, valued at $984,012.34. The disclosure for this sale can be found here. Insiders sold a total of 21,288 shares of company stock worth $3,695,445 in the last three months. Company insiders own 0.50% of the company’s stock.

WellCare Health Plans Company Profile

WellCare Health Plans, Inc is a managed care company. The Company focuses on government-sponsored managed care services, primarily through Medicaid, Medicare Advantage (MA) and Medicare Prescription Drug Plans (PDPs), to families, children, seniors and individuals with medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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