Marshall Wace LLP Buys 280,406 Shares of WellCare Health Plans, Inc. (WCG)

Marshall Wace LLP increased its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 287.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 377,862 shares of the company’s stock after buying an additional 280,406 shares during the quarter. WellCare Health Plans comprises approximately 1.0% of Marshall Wace LLP’s portfolio, making the stock its 8th largest holding. Marshall Wace LLP’s holdings in WellCare Health Plans were worth $121,101,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Private Capital Group LLC raised its position in WellCare Health Plans by 234.0% during the third quarter. Private Capital Group LLC now owns 334 shares of the company’s stock valued at $107,000 after acquiring an additional 234 shares in the last quarter. Financial Gravity Wealth Inc. raised its position in WellCare Health Plans by 3,977.8% during the third quarter. Financial Gravity Wealth Inc. now owns 367 shares of the company’s stock valued at $107,000 after acquiring an additional 358 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in WellCare Health Plans by 100.0% during the third quarter. Chicago Partners Investment Group LLC now owns 400 shares of the company’s stock valued at $117,000 after acquiring an additional 200 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in WellCare Health Plans by 55.2% during the second quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock valued at $126,000 after acquiring an additional 182 shares in the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of WellCare Health Plans in the third quarter valued at approximately $173,000. Institutional investors and hedge funds own 98.53% of the company’s stock.

In related news, Director H James Dallas bought 1,171 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were acquired at an average price of $256.35 per share, with a total value of $300,185.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard C. Breon sold 2,500 shares of the business’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $239.96, for a total transaction of $599,900.00. Following the transaction, the director now directly owns 6,406 shares in the company, valued at approximately $1,537,183.76. The disclosure for this sale can be found here. Insiders have sold 7,647 shares of company stock worth $1,924,167 in the last ninety days. 0.59% of the stock is currently owned by insiders.

A number of equities analysts have recently commented on the stock. ValuEngine lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Tuesday, November 20th. Barclays reissued a “buy” rating and issued a $338.00 price target on shares of WellCare Health Plans in a research report on Friday, September 28th. Cantor Fitzgerald lifted their price target on shares of WellCare Health Plans from $292.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, September 17th. Evercore ISI assumed coverage on shares of WellCare Health Plans in a research report on Tuesday, October 9th. They issued an “outperform” rating and a $365.00 price target on the stock. Finally, Morgan Stanley lifted their price target on shares of WellCare Health Plans from $330.00 to $350.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 12th. Three research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $305.20.

Shares of NYSE:WCG traded down $8.11 during trading on Thursday, reaching $244.15. The stock had a trading volume of 1,526,900 shares, compared to its average volume of 570,518. WellCare Health Plans, Inc. has a 52 week low of $187.06 and a 52 week high of $324.99. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.40 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, October 30th. The company reported $3.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the firm posted $4.08 earnings per share. WellCare Health Plans’s revenue was up 14.9% compared to the same quarter last year. Research analysts predict that WellCare Health Plans, Inc. will post 11.01 EPS for the current fiscal year.

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About WellCare Health Plans

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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