JPMorgan Chase & Co. increased its stake in shares of WellCare Health Plans Inc. (NYSE:WCG) by 30.3% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,988,127 shares of the company’s stock after buying an additional 462,749 shares during the period. JPMorgan Chase & Co. owned 4.49% of WellCare Health Plans worth $232,789,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of WellCare Health Plans by 15.3% in the second quarter. Vanguard Group Inc. now owns 3,698,604 shares of the company’s stock worth $396,786,000 after buying an additional 489,944 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of WellCare Health Plans by 18.0% in the third quarter. Acadian Asset Management LLC now owns 1,689,536 shares of the company’s stock worth $197,830,000 after buying an additional 257,930 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of WellCare Health Plans by 2.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,318,684 shares of the company’s stock worth $141,468,000 after buying an additional 29,877 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of WellCare Health Plans by 68.9% in the second quarter. AQR Capital Management LLC now owns 663,690 shares of the company’s stock worth $71,200,000 after buying an additional 270,638 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of WellCare Health Plans by 10.5% in the second quarter. Dimensional Fund Advisors LP now owns 651,291 shares of the company’s stock worth $69,872,000 after buying an additional 62,032 shares during the last quarter.

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

Shares of WellCare Health Plans Inc. (NYSE:WCG) opened at 137.49 on Wednesday. The firm’s 50-day moving average is $121.82 and its 200 day moving average is $112.20. WellCare Health Plans Inc. has a 1-year low of $69.16 and a 1-year high of $138.20. The stock has a market capitalization of $6.09 billion, a P/E ratio of 29.11 and a beta of 0.93.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, November 1st. The company reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.52. WellCare Health Plans had a net margin of 1.47% and a return on equity of 13.48%. The company earned $3.58 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the firm posted $1.00 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts expect that WellCare Health Plans Inc. will post $5.43 EPS for the current fiscal year.

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A number of equities analysts have recently weighed in on WCG shares. Leerink Swann reissued an “outperform” rating and issued a $135.00 price objective (up previously from $115.00) on shares of WellCare Health Plans in a research report on Friday, November 18th. Credit Suisse Group AG reissued a “sell” rating and issued a $100.00 price objective on shares of WellCare Health Plans in a research report on Tuesday, August 30th. Wedbush reissued a “neutral” rating and issued a $119.00 price objective (down previously from $126.00) on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. lowered shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating and set a $115.00 price objective for the company. in a research report on Thursday, November 10th. Finally, Jefferies Group boosted their price objective on shares of WellCare Health Plans to $105.00 in a research report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $105.89.

In other WellCare Health Plans news, Director Paul E. Weaver sold 3,000 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $128.83, for a total transaction of $386,490.00. Following the completion of the sale, the director now directly owns 15,892 shares of the company’s stock, valued at $2,047,366.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.50% of the company’s stock.

WellCare Health Plans Company Profile

WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

5 Day Chart for NYSE:WCG

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