Profund Advisors LLC Trims Stake in WellCare Health Plans, Inc. (WCG)

Profund Advisors LLC trimmed its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 18.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,758 shares of the company’s stock after selling 1,291 shares during the period. Profund Advisors LLC’s holdings in WellCare Health Plans were worth $1,034,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of WCG. BlackRock Inc. lifted its position in shares of WellCare Health Plans by 7,347.7% during the 1st quarter. BlackRock Inc. now owns 4,195,120 shares of the company’s stock valued at $588,199,000 after acquiring an additional 4,138,792 shares during the period. Renaissance Technologies LLC lifted its position in shares of WellCare Health Plans by 157.2% during the 1st quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock valued at $86,692,000 after acquiring an additional 377,900 shares during the period. AQR Capital Management LLC lifted its position in shares of WellCare Health Plans by 18.8% during the 1st quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock valued at $296,455,000 after acquiring an additional 334,095 shares during the period. American Century Companies Inc. lifted its position in shares of WellCare Health Plans by 712.9% during the 2nd quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock valued at $66,717,000 after acquiring an additional 325,853 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of WellCare Health Plans by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock valued at $621,956,000 after acquiring an additional 231,890 shares during the period. Institutional investors own 97.78% of the company’s stock.

In related news, CEO Kenneth A. Burdick sold 8,500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the sale, the chief executive officer now owns 23,627 shares in the company, valued at approximately $4,116,768.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the completion of the sale, the director now owns 5,722 shares of the company’s stock, valued at approximately $984,012.34. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

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A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lifted their price target on shares of WellCare Health Plans from $183.00 to $184.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Zacks Investment Research upgraded 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. Mitsubishi UFJ Financial Group began coverage on WellCare Health Plans in a research report on Thursday. They set an “overweight” rating and a $204.00 price objective for the company. BidaskClub downgraded WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated a “hold” rating and set a $170.00 price objective on shares of WellCare Health Plans in a research report on Thursday, June 8th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $176.23.

Shares of WellCare Health Plans, Inc. (NYSE:WCG) opened at 166.06 on Friday. The firm has a 50-day moving average of $173.61 and a 200 day moving average of $166.40. WellCare Health Plans, Inc. has a 1-year low of $112.40 and a 1-year high of $184.88. The stock has a market capitalization of $7.39 billion, a PE ratio of 29.17 and a beta of 0.88.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Friday, August 4th. The company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.23 by $0.29. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.23 billion. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.23 earnings per share. On average, equities analysts anticipate that WellCare Health Plans, Inc. will post $6.99 earnings per share for the current fiscal year.

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

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