State of Wisconsin Investment Board reduced its stake in shares of WellCare Health Plans Inc. (NYSE:WCG) by 1.7% during the third quarter, Holdings Channel reports. The firm owned 29,360 shares of the company’s stock after selling 500 shares during the period. State of Wisconsin Investment Board’s holdings in WellCare Health Plans were worth $3,438,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Retirement Systems of Alabama boosted its position in shares of WellCare Health Plans by 4.5% in the second quarter. Retirement Systems of Alabama now owns 139,983 shares of the company’s stock valued at $15,017,000 after buying an additional 6,088 shares in the last quarter. RS Investment Management Co. LLC boosted its stake in WellCare Health Plans by 33.6% in the second quarter. RS Investment Management Co. LLC now owns 321,285 shares of the company’s stock valued at $34,467,000 after buying an additional 80,775 shares during the period. Alpine Partners VI LLC purchased a new stake in WellCare Health Plans during the second quarter valued at about $353,000. ClariVest Asset Management LLC boosted its stake in WellCare Health Plans by 15.5% in the second quarter. ClariVest Asset Management LLC now owns 24,566 shares of the company’s stock valued at $2,635,000 after buying an additional 3,300 shares during the period. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in WellCare Health Plans during the second quarter valued at about $290,000.

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

WellCare Health Plans Inc. (NYSE:WCG) traded down 0.34% on Wednesday, reaching $137.02. 420,634 shares of the company’s stock were exchanged. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 29.01 and a beta of 0.93. The stock’s 50 day moving average price is $122.33 and its 200 day moving average price is $112.52. WellCare Health Plans Inc. has a 1-year low of $69.16 and a 1-year high of $138.80.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings data on Tuesday, November 1st. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.52. WellCare Health Plans had a net margin of 1.47% and a return on equity of 13.48%. The company earned $3.58 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the business earned $1.00 earnings per share. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts expect that WellCare Health Plans Inc. will post $5.43 earnings per share for the current year.

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WCG has been the subject of several recent analyst reports. Jefferies Group lifted their price objective on shares of WellCare Health Plans to $105.00 in a research report on Wednesday, August 3rd. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $115.00 price objective on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Leerink Swann reaffirmed a “buy” rating on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Wedbush reaffirmed a “neutral” rating and set a $119.00 price objective (down from $126.00) on shares of WellCare Health Plans in a research report on Wednesday, August 3rd. Finally, Credit Suisse Group AG raised shares of WellCare Health Plans from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $108.00 to $115.00 in a research report on Friday, November 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $105.89.

In related news, Director Paul E. Weaver sold 3,000 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $128.83, for a total transaction of $386,490.00. Following the completion of the sale, the director now directly owns 15,892 shares of the company’s stock, valued at approximately $2,047,366.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

WellCare Health Plans Company Profile

WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

5 Day Chart for NYSE:WCG

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