Investors purchased shares of WellCare Health Plans Inc. (NYSE:WCG) on weakness during trading on Wednesday. $40.33 million flowed into the stock on the tick-up and $11.79 million flowed out of the stock on the tick-down, for a money net flow of $28.54 million into the stock. Of all equities tracked, WellCare Health Plans had the 13th highest net in-flow for the day. WellCare Health Plans traded down ($0.08) for the day and closed at $105.44

A number of brokerages recently issued reports on WCG. Stifel Nicolaus reiterated a “buy” rating on shares of WellCare Health Plans in a report on Saturday, April 30th. Credit Suisse Group AG increased their target price on shares of WellCare Health Plans from $80.00 to $97.00 and gave the company an “outperform” rating in a research report on Monday, March 28th. Leerink Swann reissued an “outperform” rating and set a $110.00 target price on shares of WellCare Health Plans in a research report on Wednesday, June 15th. Wedbush reissued a “neutral” rating and set a $108.00 target price on shares of WellCare Health Plans in a research report on Monday, June 20th. Finally, Jefferies Group reissued a “hold” rating and set a $91.00 target price on shares of WellCare Health Plans in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $98.90.

The company has a market capitalization of $4.67 billion and a P/E ratio of 33.91. The company has a 50 day moving average of $103.51 and a 200 day moving average of $90.27.

WellCare Health Plans (NYSE:WCG) last issued its earnings results on Tuesday, May 3rd. The company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.37. During the same period last year, the firm earned $0.49 earnings per share. The firm had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.50 billion. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts expect that WellCare Health Plans Inc. will post $4.64 earnings per share for the current year.

In other news, Director Daniel Robert Graham sold 2,100 shares of WellCare Health Plans stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $94.47, for a total value of $198,387.00. Following the transaction, the director now directly owns 18,713 shares in the company, valued at approximately $1,767,817.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin F. Hickey sold 1,000 shares of WellCare Health Plans stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $105.56, for a total value of $105,560.00. Following the completion of the transaction, the director now owns 14,730 shares in the company, valued at $1,554,898.80. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently made changes to their positions in the stock. Victory Capital Management Inc. increased its position in shares of WellCare Health Plans by 11.6% in the fourth quarter. Victory Capital Management Inc. now owns 861,977 shares of the company’s stock worth $67,415,000 after buying an additional 89,623 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of WellCare Health Plans by 29.9% in the fourth quarter. OppenheimerFunds Inc. now owns 538,281 shares of the company’s stock worth $42,099,000 after buying an additional 123,757 shares in the last quarter. WCM Investment Management CA increased its position in shares of WellCare Health Plans by 27.6% in the fourth quarter. WCM Investment Management CA now owns 254,550 shares of the company’s stock worth $19,908,000 after buying an additional 55,075 shares in the last quarter. Systematic Financial Management LP increased its position in shares of WellCare Health Plans by 16.8% in the fourth quarter. Systematic Financial Management LP now owns 225,058 shares of the company’s stock worth $17,601,000 after buying an additional 32,422 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of WellCare Health Plans by 10.8% in the fourth quarter. New York State Common Retirement Fund now owns 159,923 shares of the company’s stock worth $12,508,000 after buying an additional 15,640 shares in the last quarter.

WellCare Health Plans, Inc (WellCare) is a managed care company for government-sponsored health care coverage with a focus on Medicaid and Medicare programs. The Company offers a range of managed care health plans for families, children, and the aged, blind and disabled, as well as prescription drug plans.

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