WellCare Health Plans, Inc. (WCG) Shares Sold by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System lowered its position in WellCare Health Plans, Inc. (NYSE:WCG) by 13.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,801 shares of the company’s stock after selling 8,503 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of WellCare Health Plans worth $10,020,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in WellCare Health Plans during the second quarter worth $121,000. Advisory Services Network LLC bought a new position in WellCare Health Plans during the first quarter worth $112,000. Creative Planning boosted its position in WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock worth $121,000 after buying an additional 25 shares during the last quarter. Eagle Global Advisors LLC bought a new position in WellCare Health Plans during the second quarter worth $211,000. Finally, Ronald Blue & Co. LLC bought a new position in WellCare Health Plans during the second quarter worth $240,000. 97.81% of the stock is owned by hedge funds and other institutional investors.
Shares of WellCare Health Plans, Inc. (NYSE WCG) opened at 169.89 on Thursday. The stock has a 50 day moving average of $177.50 and a 200-day moving average of $162.45. WellCare Health Plans, Inc. has a one year low of $109.74 and a one year high of $184.88. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 29.85 and a beta of 0.84.
WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.23 by $0.29. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the company earned $2.23 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. On average, equities analysts anticipate that WellCare Health Plans, Inc. will post $6.99 earnings per share for the current fiscal year.
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A number of research firms recently weighed in on WCG. Morgan Stanley increased their price objective on shares of WellCare Health Plans from $183.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price objective for the company in a research report on Friday, August 11th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $195.00 price objective on shares of WellCare Health Plans in a research report on Saturday, August 26th. BidaskClub cut shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $163.00 price target (up previously from $155.00) on shares of WellCare Health Plans in a research report on Thursday, July 13th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $173.92.
In other news, EVP Kelly A. Munson sold 3,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $173.71, for a total value of $521,130.00. Following the sale, the executive vice president now owns 4,243 shares in the company, valued at approximately $737,051.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul E. Weaver sold 2,000 shares of the business’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 sale, the director now owns 15,262 shares in the company, valued at approximately $2,677,565.28. The disclosure for this sale can be found here. Insiders have sold 20,688 shares of company stock worth $3,592,329 in the last quarter. Corporate insiders own 0.50% of the company’s stock.
WellCare Health Plans Company Profile
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.
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