Virginia Retirement Systems ET AL continued to hold its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,300 shares of the company’s stock at the end of the second quarter. Virginia Retirement Systems ET AL’s holdings in WellCare Health Plans were worth $2,927,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Cadence Capital Management LLC increased its stake in shares of WellCare Health Plans by 20.4% in the second quarter. Cadence Capital Management LLC now owns 11,432 shares of the company’s stock worth $2,053,000 after buying an additional 1,939 shares during the period. Comerica Bank increased its stake in shares of WellCare Health Plans by 1.0% in the second quarter. Comerica Bank now owns 34,828 shares of the company’s stock worth $6,391,000 after buying an additional 340 shares during the period. Legal & General Group Plc increased its stake in shares of WellCare Health Plans by 9.1% in the second quarter. Legal & General Group Plc now owns 58,653 shares of the company’s stock worth $10,528,000 after buying an additional 4,893 shares during the period. Dupont Capital Management Corp bought a new stake in shares of WellCare Health Plans during the second quarter worth about $1,848,000. Finally, Advisors Asset Management Inc. increased its stake in shares of WellCare Health Plans by 4.0% in the second quarter. Advisors Asset Management Inc. now owns 10,482 shares of the company’s stock worth $1,882,000 after buying an additional 399 shares during the period. Institutional investors and hedge funds own 97.81% of the company’s stock.

Shares of WellCare Health Plans, Inc. (WCG) opened at 168.82 on Monday. The stock has a 50 day moving average price of $177.50 and a 200 day moving average price of $162.45. WellCare Health Plans, Inc. has a one year low of $109.74 and a one year high of $184.88. The stock has a market capitalization of $7.51 billion, a P/E ratio of 29.66 and a beta of 0.84.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.23 by $0.29. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. WellCare Health Plans’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the business earned $2.23 EPS. Equities analysts forecast that WellCare Health Plans, Inc. will post $6.98 earnings per share for the current year.

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A number of equities research analysts have issued reports on the company. Cantor Fitzgerald restated a “buy” rating and set a $195.00 price objective on shares of WellCare Health Plans in a research report on Saturday. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a research report on Friday, August 11th. Morgan Stanley upped their price objective on WellCare Health Plans from $183.00 to $184.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. BidaskClub downgraded WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Bank of America Corporation upped their price objective on WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Friday, July 14th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. WellCare Health Plans has a consensus rating of “Hold” and an average target price of $173.92.

In other WellCare Health Plans news, Director Paul E. Weaver sold 2,000 shares of WellCare Health Plans stock in a transaction on Monday, June 12th. The shares were sold at an average price of $175.44, for a total value of $350,880.00. Following the transaction, the director now owns 15,262 shares in the company, valued at approximately $2,677,565.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the completion of the transaction, the director now owns 5,722 shares in the company, valued at approximately $984,012.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,688 shares of company stock worth $3,592,329. 0.50% of the stock is owned by company insiders.

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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