CIBC Asset Management Inc acquired a new position in WellCare Health Plans, Inc. (NYSE:WCG) during the second quarter, according to its most recent filing with the SEC. The fund acquired 1,396 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors also recently bought and sold shares of WCG. Breton Hill Capital Ltd. boosted its position in WellCare Health Plans by 101.4% in the first quarter. Breton Hill Capital Ltd. now owns 14,097 shares of the company’s stock worth $1,977,000 after buying an additional 7,097 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of WellCare Health Plans by 1.8% in the first quarter. Russell Investments Group Ltd. now owns 500,291 shares of the company’s stock valued at $70,147,000 after buying an additional 9,040 shares in the last quarter. ARP Americas LLC boosted its position in shares of WellCare Health Plans by 2.0% in the first quarter. ARP Americas LLC now owns 3,354 shares of the company’s stock valued at $470,000 after buying an additional 67 shares in the last quarter. Sapphire Star Partners LP acquired a new position in shares of WellCare Health Plans during the first quarter valued at approximately $237,000. Finally, Sawgrass Asset Management LLC boosted its position in shares of WellCare Health Plans by 21.1% in the first quarter. Sawgrass Asset Management LLC now owns 11,825 shares of the company’s stock valued at $1,658,000 after buying an additional 2,060 shares in the last quarter. 98.85% of the stock is owned by hedge funds and other institutional investors.

Shares of WellCare Health Plans, Inc. (WCG) opened at 173.56 on Friday. The stock has a market capitalization of $7.72 billion, a PE ratio of 30.49 and a beta of 0.84. WellCare Health Plans, Inc. has a 52-week low of $109.74 and a 52-week high of $184.88. The stock’s 50 day moving average is $178.79 and its 200 day moving average is $161.63.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.29. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. Equities research analysts expect that WellCare Health Plans, Inc. will post $6.99 earnings per share for the current fiscal year.

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WCG has been the subject of several recent research reports. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $172.00 price target for the company in a research report on Monday, May 1st. Jefferies Group LLC raised their price target on shares of WellCare Health Plans from $142.00 to $170.00 and gave the company a “hold” rating in a research report on Thursday, May 4th. Wolfe Research reissued a “market perform” rating on shares of WellCare Health Plans in a research report on Friday, May 5th. Morgan Stanley initiated coverage on shares of WellCare Health Plans in a research report on Tuesday, June 6th. They issued an “equal weight” rating and a $183.00 price target for the company. Finally, Leerink Swann reissued an “outperform” rating and issued a $225.00 price target (up previously from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $172.00.

In other news, VP Michael Troy Meyer sold 600 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $171.86, for a total value of $103,116.00. Following the completion of the transaction, the vice president now directly owns 73 shares in the company, valued at $12,545.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul E. Weaver sold 2,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $175.44, for a total transaction of $350,880.00. Following the completion of the transaction, the director now owns 15,262 shares of the company’s stock, valued at $2,677,565.28. The disclosure for this sale can be found here. Insiders sold 21,288 shares of company stock valued at $3,695,445 over the last 90 days. Insiders own 0.50% of the company’s stock.

About WellCare Health Plans

WellCare Health Plans, Inc is a managed care company. The Company focuses 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 medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

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

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