Meiji Yasuda Asset Management Co Ltd. Acquires 40 Shares of WellCare Health Plans, Inc. (NYSE:WCG)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 1.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,150 shares of the company’s stock after acquiring an additional 40 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in WellCare Health Plans were worth $850,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc raised its position in WellCare Health Plans by 26.1% in the third quarter. Vanguard Group Inc now owns 5,602,927 shares of the company’s stock valued at $1,795,681,000 after purchasing an additional 1,159,497 shares during the period. Creative Planning increased its position in shares of WellCare Health Plans by 9.0% during the fourth quarter. Creative Planning now owns 1,839 shares of the company’s stock worth $434,000 after acquiring an additional 152 shares during the period. Janney Montgomery Scott LLC increased its position in shares of WellCare Health Plans by 15.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 1,263 shares of the company’s stock worth $298,000 after acquiring an additional 165 shares during the period. BB&T Securities LLC increased its position in shares of WellCare Health Plans by 22.5% during the fourth quarter. BB&T Securities LLC now owns 926 shares of the company’s stock worth $218,000 after acquiring an additional 170 shares during the period. Finally, ClariVest Asset Management LLC increased its position in shares of WellCare Health Plans by 0.8% during the fourth quarter. ClariVest Asset Management LLC now owns 17,727 shares of the company’s stock worth $4,186,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 99.08% of the company’s stock.

WCG has been the subject of several research analyst reports. Cowen initiated coverage on shares of WellCare Health Plans in a research note on Thursday, February 28th. They issued an “outperform” rating for the company. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Wells Fargo & Co dropped their price objective on shares of WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Credit Suisse Group started coverage on shares of WellCare Health Plans in a research note on Monday, April 15th. They set a “neutral” rating and a $307.00 price objective for the company. Finally, Zacks Investment Research lowered shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. WellCare Health Plans has a consensus rating of “Buy” and a consensus price target of $310.07.

Shares of WCG opened at $287.88 on Friday. The firm has a market capitalization of $14.42 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 1.41 and a beta of 1.02. WellCare Health Plans, Inc. has a fifty-two week low of $220.63 and a fifty-two week high of $324.99. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.48.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.10 by $0.59. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.56 billion. WellCare Health Plans had a net margin of 2.17% and a return on equity of 15.47%. WellCare Health Plans’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same quarter last year, the business earned $2.47 EPS. Sell-side analysts forecast that WellCare Health Plans, Inc. will post 14 earnings per share for the current fiscal year.

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WellCare Health Plans Profile

WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (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 programs 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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