WellCare Health Plans, Inc. (WCG) Stake Boosted by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund increased its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 4.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 16,284 shares of the company’s stock after buying an additional 723 shares during the period. Oregon Public Employees Retirement Fund’s holdings in WellCare Health Plans were worth $2,924,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WCG. Neuberger Berman Group LLC boosted its position in WellCare Health Plans by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after buying an additional 16 shares in the last quarter. Creative Planning boosted its position in WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock valued at $121,000 after buying an additional 25 shares in the last quarter. Meeder Asset Management Inc. boosted its position in WellCare Health Plans by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 9,779 shares of the company’s stock valued at $1,755,000 after buying an additional 63 shares in the last quarter. ARP Americas LLC boosted its position in WellCare Health Plans by 2.0% in the first quarter. ARP Americas LLC now owns 3,354 shares of the company’s stock valued at $470,000 after buying an additional 67 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in WellCare Health Plans by 4.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,875 shares of the company’s stock valued at $257,000 after buying an additional 83 shares in the last quarter. 98.85% of the stock is currently owned by institutional investors.

Shares of WellCare Health Plans, Inc. (NYSE:WCG) traded down 1.25% during trading on Friday, reaching $173.56. 222,027 shares of the company’s stock were exchanged. WellCare Health Plans, Inc. has a 52-week low of $109.74 and a 52-week high of $184.88. The stock’s 50 day moving average price is $178.79 and its 200-day moving average price is $161.63. The stock has a market cap of $7.72 billion, a PE ratio of 30.49 and a beta of 0.84.

WellCare Health Plans (NYSE:WCG) last posted its earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the company earned $2.23 EPS. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts forecast that WellCare Health Plans, Inc. will post $6.99 EPS for the current year.

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A number of equities research analysts recently issued reports on WCG shares. Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 price target for the company in a report on Monday, May 1st. Jefferies Group LLC upped their price objective on shares of WellCare Health Plans from $142.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, May 4th. Wolfe Research reaffirmed a “market perform” rating on shares of WellCare Health Plans in a research report on Friday, May 5th. Morgan Stanley started coverage on shares of WellCare Health Plans in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $183.00 price objective for the company. Finally, Leerink Swann reissued an “outperform” rating and issued a $225.00 price target (up previously from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $172.00.

In other WellCare Health Plans news, CFO Andrew Lynn Asher sold 7,314 shares of the 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 sale, the chief financial officer now owns 13,244 shares in the company, valued at $2,318,229.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Paul E. Weaver sold 2,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $175.44, for a total value of $350,880.00. Following the transaction, the director now directly owns 15,262 shares in the company, valued at approximately $2,677,565.28. The disclosure for this sale can be found here. Insiders have sold a total of 21,288 shares of company stock worth $3,695,445 in the last 90 days. 0.50% of the stock is currently owned by insiders.

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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