Columbus Circle Investors Trims Stake in WellCare Health Plans, Inc. (WCG)
Columbus Circle Investors cut its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,340 shares of the company’s stock after selling 12,512 shares during the quarter. Columbus Circle Investors owned 0.75% of WellCare Health Plans worth $57,076,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WCG. State of Alaska Department of Revenue purchased a new stake in shares of WellCare Health Plans in the second quarter valued at $121,000. Advisory Services Network LLC lifted its holdings in shares of WellCare Health Plans by 8.4% in the second quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock valued at $155,000 after purchasing an additional 67 shares in the last quarter. Eagle Global Advisors LLC purchased a new stake in shares of WellCare Health Plans in the second quarter valued at $211,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of WellCare Health Plans by 29.3% in the second quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock valued at $237,000 after purchasing an additional 299 shares in the last quarter. Finally, Ronald Blue & Co. LLC purchased a new stake in shares of WellCare Health Plans during the second quarter worth $240,000. 98.17% of the stock is owned by institutional investors and hedge funds.
WCG has been the subject of several recent research reports. Cantor Fitzgerald reiterated a “buy” rating and set a $195.00 price objective on shares of WellCare Health Plans in a report on Saturday, August 26th. Mitsubishi UFJ Financial Group initiated coverage on WellCare Health Plans in a report on Thursday, September 21st. They set an “overweight” rating and a $204.00 price objective for the company. ValuEngine upgraded WellCare Health Plans from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC increased their price objective on WellCare Health Plans from $189.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, October 13th. Finally, Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, October 9th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. WellCare Health Plans has an average rating of “Hold” and a consensus price target of $195.27.
Shares of WellCare Health Plans, Inc. (NYSE:WCG) traded up $1.82 during trading hours on Friday, hitting $200.02. The stock had a trading volume of 465,400 shares, compared to its average volume of 366,098. The firm has a market capitalization of $8,824.17, a P/E ratio of 21.45, a P/E/G ratio of 1.53 and a beta of 0.81. WellCare Health Plans, Inc. has a 12 month low of $125.00 and a 12 month high of $208.89. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.51.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $4.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $2.18. The company had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.37 billion. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The firm’s revenue was up 22.8% compared to the same quarter last year. During the same period last year, the business posted $1.63 earnings per share. research analysts predict that WellCare Health Plans, Inc. will post 8.45 EPS for the current fiscal year.
In related news, CEO Kenneth A. Burdick sold 8,500 shares of WellCare Health Plans stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the sale, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Carol Burt sold 997 shares of WellCare Health Plans stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The disclosure for this sale can be found here. Company insiders own 0.47% 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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