New York State Common Retirement Fund Sells 3,338 Shares of WellCare Health Plans, Inc. (WCG)

New York State Common Retirement Fund decreased its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,040 shares of the company’s stock after selling 3,338 shares during the period. New York State Common Retirement Fund owned 0.29% of WellCare Health Plans worth $21,818,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sei Investments Co. grew its position in shares of WellCare Health Plans by 4.3% in the third quarter. Sei Investments Co. now owns 15,225 shares of the company’s stock valued at $2,615,000 after purchasing an additional 626 shares during the period. Candriam Luxembourg S.C.A. purchased a new stake in shares of WellCare Health Plans in the third quarter valued at $515,000. American Century Companies Inc. grew its position in shares of WellCare Health Plans by 60.1% in the third quarter. American Century Companies Inc. now owns 594,925 shares of the company’s stock valued at $102,172,000 after purchasing an additional 223,364 shares during the period. Stevens Capital Management LP grew its position in shares of WellCare Health Plans by 58.5% in the third quarter. Stevens Capital Management LP now owns 24,350 shares of the company’s stock valued at $4,182,000 after purchasing an additional 8,986 shares during the period. Finally, Old Mutual Global Investors UK Ltd. grew its position in shares of WellCare Health Plans by 426.7% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 124,811 shares of the company’s stock valued at $21,435,000 after purchasing an additional 101,114 shares during the period. 99.91% of the stock is owned by institutional investors.

A number of equities research analysts have recently commented on the company. Zacks Investment Research raised WellCare Health Plans from a “hold” rating to a “buy” rating and set a $221.00 price objective for the company in a research report on Thursday, November 2nd. Deutsche Bank lifted their target price on WellCare Health Plans to $240.00 and gave the company a “buy” rating in a report on Monday, November 20th. Piper Jaffray Companies reiterated a “buy” rating and issued a $214.00 target price on shares of WellCare Health Plans in a report on Wednesday, November 1st. Jefferies Group lifted their target price on WellCare Health Plans from $189.00 to $190.00 and gave the company a “hold” rating in a report on Friday, October 13th. Finally, Mitsubishi UFJ Financial Group began coverage on WellCare Health Plans in a report on Thursday, September 21st. They issued an “overweight” rating and a $204.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $200.20.

In other WellCare Health Plans news, Director Carol Burt sold 997 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total transaction of $201,593.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of the business’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $174.24, for a total value of $1,481,040.00. Following the transaction, the chief executive officer now owns 23,627 shares in the company, valued at approximately $4,116,768.48. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Shares of WellCare Health Plans, Inc. (WCG) traded up $0.40 on Wednesday, hitting $205.90. The company’s stock had a trading volume of 207,200 shares, compared to its average volume of 362,077. The firm has a market capitalization of $9,149.18, a PE ratio of 22.24, a PEG ratio of 1.58 and a beta of 0.82. WellCare Health Plans, Inc. has a 12 month low of $133.21 and a 12 month high of $213.97. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.28 and a current ratio of 1.28.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $2.18. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 earnings per share. analysts predict that WellCare Health Plans, Inc. will post 8.44 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This news story was published by Week Herald and is the sole property of of Week Herald. If you are accessing this news story on another domain, it was stolen and reposted in violation of United States & international trademark and copyright law. The original version of this news story can be viewed at https://weekherald.com/2017/12/13/new-york-state-common-retirement-fund-sells-3338-shares-of-wellcare-health-plans-inc-wcg.html.

WellCare Health Plans 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.

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

Receive News & Ratings for WellCare Health Plans Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WellCare Health Plans and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply