Dynamic Technology Lab Private Ltd Sells 5,802 Shares of WellCare Health Plans, Inc. (WCG)

Dynamic Technology Lab Private Ltd trimmed its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 86.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 898 shares of the company’s stock after selling 5,802 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in WellCare Health Plans were worth $221,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WCG. Harvest Fund Management Co. Ltd increased its stake in WellCare Health Plans by 55.2% in the second quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock valued at $126,000 after purchasing an additional 182 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in WellCare Health Plans by 98.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock valued at $108,000 after purchasing an additional 279 shares in the last quarter. Tdam USA Inc. bought a new stake in WellCare Health Plans in the second quarter valued at approximately $205,000. IBM Retirement Fund bought a new stake in WellCare Health Plans in the second quarter valued at approximately $207,000. Finally, CAPROCK Group Inc. bought a new stake in WellCare Health Plans in the second quarter valued at approximately $225,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Shares of WCG stock opened at $307.48 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.44. WellCare Health Plans, Inc. has a 12-month low of $162.25 and a 12-month high of $315.65. The firm has a market cap of $13.62 billion, a PE ratio of 36.09, a P/E/G ratio of 1.83 and a beta of 1.04.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, July 31st. The company reported $3.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.03 by $0.66. WellCare Health Plans had a net margin of 2.69% and a return on equity of 19.20%. The company had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the firm earned $2.52 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. research analysts anticipate that WellCare Health Plans, Inc. will post 10.79 EPS for the current fiscal year.

WCG has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $268.00 target price on shares of WellCare Health Plans in a research note on Wednesday, August 1st. Morgan Stanley upped their target price on shares of WellCare Health Plans from $280.00 to $330.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 5th. Argus initiated coverage on shares of WellCare Health Plans in a research note on Thursday, June 7th. They issued a “buy” rating and a $265.00 target price for the company. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of WellCare Health Plans in a research note on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $290.88.

WellCare Health Plans Profile

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare 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 for qualifying families who are not eligible for Medicaid.

Further Reading: Book Value Of Equity Per Share – BVPS Explained

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

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