Eagle Asset Management Inc. trimmed its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,185 shares of the company’s stock after selling 305 shares during the period. Eagle Asset Management Inc.’s holdings in WellCare Health Plans were worth $1,998,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of WCG. Fuller & Thaler Asset Management Inc. purchased a new position in shares of WellCare Health Plans during the 3rd quarter worth approximately $103,000. Bessemer Group Inc. raised its stake in shares of WellCare Health Plans by 593.2% during the 4th quarter. Bessemer Group Inc. now owns 818 shares of the company’s stock worth $165,000 after buying an additional 700 shares in the last quarter. Matisse Capital purchased a new position in shares of WellCare Health Plans during the 4th quarter worth approximately $205,000. Highbridge Capital Management LLC purchased a new position in shares of WellCare Health Plans during the 3rd quarter worth approximately $311,000. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of WellCare Health Plans by 29.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 1,951 shares of the company’s stock worth $335,000 after buying an additional 441 shares in the last quarter. 98.73% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on WCG shares. Deutsche Bank increased their target price on WellCare Health Plans to $240.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Zacks Investment Research downgraded WellCare Health Plans from a “strong-buy” rating to a “hold” rating in a research note on Saturday, January 6th. Cantor Fitzgerald reissued a “buy” rating and set a $235.00 target price on shares of WellCare Health Plans in a research note on Monday, December 18th. Goldman Sachs Group started coverage on WellCare Health Plans in a research note on Wednesday, January 3rd. They set a “buy” rating and a $255.00 target price for the company. Finally, Bank of America increased their target price on WellCare Health Plans from $210.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, November 17th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $217.86.
WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.11. WellCare Health Plans had a return on equity of 17.10% and a net margin of 2.20%. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.32 billion. During the same period last year, the business posted $1.03 EPS. WellCare Health Plans’s quarterly revenue was up 23.5% on a year-over-year basis. equities analysts predict that WellCare Health Plans, Inc. will post 9.79 earnings per share for the current fiscal year.
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About WellCare Health Plans
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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