Cambridge Investment Research Advisors Inc. Acquires 335 Shares of WellCare Health Plans, Inc. (WCG)

Cambridge Investment Research Advisors Inc. increased its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 21.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,884 shares of the company’s stock after buying an additional 335 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in WellCare Health Plans were worth $338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in WellCare Health Plans by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock worth $621,956,000 after buying an additional 231,890 shares during the period. BlackRock Inc. increased its stake in WellCare Health Plans by 7,347.7% during the 1st quarter. BlackRock Inc. now owns 4,195,120 shares of the company’s stock worth $588,199,000 after buying an additional 4,138,792 shares during the period. AQR Capital Management LLC increased its stake in WellCare Health Plans by 18.8% during the 1st quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock worth $296,455,000 after buying an additional 334,095 shares during the period. Acadian Asset Management LLC increased its stake in WellCare Health Plans by 1.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,544,686 shares of the company’s stock worth $277,365,000 after buying an additional 27,855 shares during the period. Finally, Renaissance Technologies LLC increased its stake in WellCare Health Plans by 157.2% during the 1st quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock worth $86,692,000 after buying an additional 377,900 shares during the period. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the sale, the director now owns 5,722 shares in the company, valued at $984,012.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

WellCare Health Plans, Inc. (WCG) opened at 177.79 on Friday. The firm’s 50-day moving average is $173.98 and its 200 day moving average is $165.65. The firm has a market cap of $7.91 billion, a PE ratio of 31.24 and a beta of 0.88. WellCare Health Plans, Inc. has a 12-month low of $111.36 and a 12-month high of $184.88.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Friday, August 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.29. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 earnings per share. Equities research analysts predict that WellCare Health Plans, Inc. will post $6.99 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Cambridge Investment Research Advisors Inc. Acquires 335 Shares of WellCare Health Plans, Inc. (WCG)” was first published by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this piece on another domain, it was illegally copied and republished in violation of international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.chaffeybreeze.com/2017/09/17/cambridge-investment-research-advisors-inc-acquires-335-shares-of-wellcare-health-plans-inc-wcg.html.

Several equities research analysts recently weighed in on the stock. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $195.00 target price on shares of WellCare Health Plans in a research note on Saturday, August 26th. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 target price on the stock in a research note on Friday, August 11th. Morgan Stanley upped their target price on shares of WellCare Health Plans from $183.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Finally, BidaskClub downgraded shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. WellCare Health Plans has a consensus rating of “Hold” and a consensus price target of $173.92.

WellCare Health Plans 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)

Receive News & Ratings for WellCare Health Plans Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply