Marshall Wace LLP increased its position in WellCare Health Plans, Inc. (NYSE:WCG) by 287.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 377,862 shares of the company’s stock after acquiring an additional 280,406 shares during the period. WellCare Health Plans makes up 1.0% of Marshall Wace LLP’s portfolio, making the stock its 8th biggest position. Marshall Wace LLP owned approximately 0.76% of WellCare Health Plans worth $121,101,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WCG. Vanguard Group Inc. increased its holdings in shares of WellCare Health Plans by 26.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,602,927 shares of the company’s stock worth $1,795,681,000 after acquiring an additional 1,159,497 shares during the period. FMR LLC increased its holdings in shares of WellCare Health Plans by 267.8% in the 3rd quarter. FMR LLC now owns 1,318,399 shares of the company’s stock worth $422,534,000 after acquiring an additional 959,928 shares during the period. American Century Companies Inc. increased its holdings in shares of WellCare Health Plans by 28.8% in the 2nd quarter. American Century Companies Inc. now owns 1,337,459 shares of the company’s stock worth $329,336,000 after acquiring an additional 299,273 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of WellCare Health Plans by 530.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 233,780 shares of the company’s stock worth $74,923,000 after acquiring an additional 196,687 shares during the period. Finally, Smith Asset Management Group LP acquired a new stake in shares of WellCare Health Plans in the 2nd quarter worth about $45,200,000. 98.53% of the stock is currently owned by institutional investors and hedge funds.

In other WellCare Health Plans news, Director Richard C. Breon sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $239.96, for a total value of $599,900.00. Following the completion of the transaction, the director now directly owns 6,406 shares in the company, valued at $1,537,183.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $131,690.00. Following the completion of the transaction, the executive vice president now owns 7,044 shares of the company’s stock, valued at $1,855,248.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,647 shares of company stock valued at $1,924,167. Corporate insiders own 0.59% of the company’s stock.

A number of analysts recently weighed in on WCG shares. Morgan Stanley increased their price objective on shares of WellCare Health Plans from $280.00 to $330.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 5th. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Barclays reissued a “buy” rating and set a $325.00 target price on shares of WellCare Health Plans in a research note on Tuesday, September 18th. Cantor Fitzgerald reissued a “buy” rating and set a $330.00 target price on shares of WellCare Health Plans in a research note on Tuesday, October 30th. Finally, Evercore ISI began coverage on shares of WellCare Health Plans in a research note on Tuesday, October 9th. They set an “outperform” rating and a $365.00 target price on the stock. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $305.20.

Shares of NYSE:WCG traded down $8.11 during trading hours on Thursday, hitting $244.15. 1,526,900 shares of the company’s stock traded hands, compared to its average volume of 570,518. WellCare Health Plans, Inc. has a 52 week low of $187.06 and a 52 week high of $324.99. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.51. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 1.40 and a beta of 1.18.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.09 by $0.24. WellCare Health Plans had a net margin of 2.38% and a return on equity of 15.45%. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. During the same quarter last year, the firm posted $4.08 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, research analysts forecast that WellCare Health Plans, Inc. will post 11.01 earnings per share for the current year.

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

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