Unigestion Holding SA Has $6.79 Million Position in WellCare Health Plans, Inc. (WCG)
Unigestion Holding SA increased its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 253.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,193 shares of the company’s stock after buying an additional 15,193 shares during the quarter. Unigestion Holding SA’s holdings in WellCare Health Plans were worth $6,792,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Acadian Asset Management LLC lifted its position in WellCare Health Plans by 3.6% during the second quarter. Acadian Asset Management LLC now owns 1,652,077 shares of the company’s stock worth $406,808,000 after buying an additional 56,649 shares during the period. American Century Companies Inc. lifted its position in WellCare Health Plans by 28.8% during the second quarter. American Century Companies Inc. now owns 1,337,459 shares of the company’s stock worth $329,336,000 after buying an additional 299,273 shares during the period. Bank of New York Mellon Corp lifted its position in WellCare Health Plans by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 1,077,020 shares of the company’s stock worth $265,204,000 after buying an additional 21,813 shares during the period. OppenheimerFunds Inc. lifted its position in WellCare Health Plans by 25.8% during the second quarter. OppenheimerFunds Inc. now owns 450,474 shares of the company’s stock worth $110,923,000 after buying an additional 92,269 shares during the period. Finally, Northern Trust Corp lifted its position in WellCare Health Plans by 5.3% during the second quarter. Northern Trust Corp now owns 361,397 shares of the company’s stock worth $88,990,000 after buying an additional 18,161 shares during the period. Hedge funds and other institutional investors own 97.29% of the company’s stock.
Several research firms recently weighed in on WCG. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “strong-buy” rating and set a $295.00 target price on the stock in a research report on Thursday, July 26th. SunTrust Banks increased their target price on WellCare Health Plans to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Morgan Stanley increased their target price on WellCare Health Plans from $258.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 1st. Argus increased their target price on WellCare Health Plans from $265.00 to $360.00 and gave the stock a “buy” rating in a research report on Friday, August 31st. Finally, Bank of America increased their target price on WellCare Health Plans from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $301.13.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.24. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.06 billion. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business posted $4.08 EPS. On average, equities analysts forecast that WellCare Health Plans, Inc. will post 11.01 earnings per share for the current fiscal year.
In other news, EVP Yount Michael sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $263.38, for a total value of $131,690.00. Following the transaction, the executive vice president now directly owns 7,044 shares in the company, valued at approximately $1,855,248.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.59% of the company’s stock.
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WellCare Health Plans Profile
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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