Oxford Asset Management raised its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 9.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,957 shares of the company’s stock after buying an additional 2,097 shares during the period. Oxford Asset Management owned approximately 0.05% of WellCare Health Plans worth $3,359,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Creative Planning raised its stake 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 during the last quarter. Westpac Banking Corp raised its stake in WellCare Health Plans by 1.3% in the third quarter. Westpac Banking Corp now owns 2,898 shares of the company’s stock valued at $339,000 after buying an additional 38 shares during the last quarter. ARP Americas LLC raised its stake 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 during the last quarter. Envestnet Asset Management Inc. raised its stake 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 during the last quarter. Finally, Capstone Asset Management Co. raised its stake in WellCare Health Plans by 2.7% in the first quarter. Capstone Asset Management Co. now owns 6,422 shares of the company’s stock valued at $900,000 after buying an additional 170 shares during the last quarter.
WellCare Health Plans, Inc. (NYSE:WCG) traded up 1.20% on Friday, reaching $170.79. The company’s stock had a trading volume of 265,627 shares. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 28.10 and a beta of 1.00. WellCare Health Plans, Inc. has a 12-month low of $94.28 and a 12-month high of $174.51. The firm has a 50-day moving average of $155.38 and a 200 day moving average of $142.60.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $1.61 EPS for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.42. The business had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.85 billion. WellCare Health Plans had a return on equity of 14.01% and a net margin of 1.70%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 earnings per share. On average, equities research analysts anticipate that WellCare Health Plans, Inc. will post $6.86 EPS for the current fiscal year.
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Several equities research analysts have recently commented on the stock. Wolfe Research reaffirmed a “market perform” rating on shares of WellCare Health Plans in a research report on Friday, May 5th. Jefferies Group LLC boosted their price objective on WellCare Health Plans from $142.00 to $170.00 and gave the company a “hold” rating in a research note on Thursday, May 4th. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 price objective for the company in a research note on Monday, May 1st. Cantor Fitzgerald reiterated a “hold” rating on shares of WellCare Health Plans in a research note on Tuesday, February 7th. Finally, Deutsche Bank AG began coverage on WellCare Health Plans in a research note on Wednesday, April 5th. They set a “buy” rating and a $168.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. WellCare Health Plans currently has a consensus rating of “Hold” and a consensus price target of $138.33.
In other news, SVP Darren Ghanayem sold 800 shares of WellCare Health Plans stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $170.30, for a total value of $136,240.00. Following the sale, the senior vice president now directly owns 476 shares of the company’s stock, valued at $81,062.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roel C. Campos sold 6,000 shares of WellCare Health Plans stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $143.41, for a total value of $860,460.00. Following the completion of the sale, the director now directly owns 9,861 shares in the company, valued at $1,414,166.01. The disclosure for this sale can be found here. Insiders sold 19,812 shares of company stock valued at $3,124,392 over the last 90 days. 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.
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