Wedge Capital Management L L P NC Lowers Stake in WellCare Health Plans, Inc. (WCG)

Wedge Capital Management L L P NC reduced its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,336 shares of the company’s stock after selling 13,218 shares during the period. Wedge Capital Management L L P NC owned approximately 0.27% of WellCare Health Plans worth $38,566,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WCG. Financial Gravity Wealth Inc. lifted its stake in shares of WellCare Health Plans by 3,977.8% during the third quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock worth $107,000 after buying an additional 358 shares during the period. Private Capital Group LLC lifted its stake in shares of WellCare Health Plans by 234.0% during the third quarter. Private Capital Group LLC now owns 334 shares of the company’s stock worth $107,000 after buying an additional 234 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of WellCare Health Plans by 98.9% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock worth $108,000 after buying an additional 279 shares during the period. Harvest Fund Management Co. Ltd lifted its stake in shares of WellCare Health Plans by 55.2% during the second quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock worth $126,000 after buying an additional 182 shares during the period. Finally, Cerebellum GP LLC acquired a new stake in shares of WellCare Health Plans during the third quarter worth $191,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

WCG opened at $259.10 on Friday. WellCare Health Plans, Inc. has a fifty-two week low of $187.06 and a fifty-two week high of $324.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.27. The firm has a market capitalization of $12.36 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 1.63 and a beta of 1.23.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.24. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the company earned $4.08 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts anticipate that WellCare Health Plans, Inc. will post 11.02 EPS for the current year.

Several brokerages recently issued reports on WCG. Zacks Investment Research cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. BMO Capital Markets set a $345.00 target price on shares of WellCare Health Plans and gave the stock a “buy” rating in a report on Friday, September 14th. Barclays raised their target price on shares of WellCare Health Plans from $288.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. Bank of America raised their target price on shares of WellCare Health Plans from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, July 24th. Finally, Cantor Fitzgerald raised their target price on shares of WellCare Health Plans from $292.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $301.13.

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.

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

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