Ontario Teachers Pension Plan Board raised its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 45.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 35,235 shares of the company’s stock after acquiring an additional 11,000 shares during the period. Ontario Teachers Pension Plan Board’s holdings in WellCare Health Plans were worth $8,676,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. grew its holdings in WellCare Health Plans by 98.9% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock valued at $108,000 after buying an additional 279 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in WellCare Health Plans by 55.2% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 512 shares of the company’s stock valued at $126,000 after buying an additional 182 shares in the last quarter. MANA Advisors LLC purchased a new stake in WellCare Health Plans during the 1st quarter valued at approximately $205,000. Tdam USA Inc. purchased a new stake in WellCare Health Plans during the 2nd quarter valued at approximately $205,000. Finally, HRT Financial LLC purchased a new stake in WellCare Health Plans during the 1st quarter valued at approximately $206,000. 97.39% of the stock is owned by institutional investors and hedge funds.

WCG has been the subject of a number of research analyst reports. Bank of America increased their price objective on shares of WellCare Health Plans from $260.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. SunTrust Banks initiated coverage on shares of WellCare Health Plans in a report on Monday, June 11th. They set a “buy” rating and a $270.00 price objective for the company. Argus initiated coverage on shares of WellCare Health Plans in a report on Thursday, June 7th. They set a “buy” rating and a $265.00 price objective for the company. ValuEngine upgraded WellCare Health Plans from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of WellCare Health Plans in a research report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. WellCare Health Plans presently has a consensus rating of “Buy” and a consensus target price of $273.53.

NYSE WCG opened at $300.24 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.44. The company has a market cap of $13.57 billion, a PE ratio of 35.24, a PEG ratio of 1.88 and a beta of 0.96. WellCare Health Plans, Inc. has a one year low of $162.25 and a one year high of $305.74.

WellCare Health Plans (NYSE:WCG) last posted its earnings results on Tuesday, July 31st. The company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.66. The firm had revenue of $4.64 billion during the quarter, compared to the consensus estimate of $4.65 billion. WellCare Health Plans had a return on equity of 19.20% and a net margin of 2.69%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.52 EPS. sell-side analysts expect that WellCare Health Plans, Inc. will post 10.88 EPS for the current year.

About WellCare Health Plans

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare PDPs. The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports for qualifying families who are not eligible for Medicaid.

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

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