Eqis Capital Management Inc. cut its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 11.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,187 shares of the company’s stock after selling 396 shares during the period. Eqis Capital Management Inc.’s holdings in WellCare Health Plans were worth $572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of WellCare Health Plans by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock valued at $621,956,000 after buying an additional 231,890 shares in the last quarter. BlackRock Inc. increased its position in shares of WellCare Health Plans by 7,347.7% in the first quarter. BlackRock Inc. now owns 4,195,120 shares of the company’s stock valued at $588,199,000 after buying an additional 4,138,792 shares in the last quarter. AQR Capital Management LLC increased its position in shares of WellCare Health Plans by 18.8% in the first quarter. AQR Capital Management LLC now owns 2,114,365 shares of the company’s stock valued at $296,455,000 after buying an additional 334,095 shares in the last quarter. Teachers Advisors LLC increased its position in shares of WellCare Health Plans by 3.8% in the fourth quarter. Teachers Advisors LLC now owns 668,352 shares of the company’s stock valued at $91,618,000 after buying an additional 24,540 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of WellCare Health Plans by 157.2% in the first quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock valued at $86,692,000 after buying an additional 377,900 shares in the last quarter. 98.65% of the stock is currently owned by institutional investors.

Shares of WellCare Health Plans, Inc. (WCG) opened at 183.77 on Friday. The firm has a 50-day moving average price of $179.12 and a 200-day moving average price of $156.75. The company has a market capitalization of $8.18 billion, a PE ratio of 30.24 and a beta of 0.86. WellCare Health Plans, Inc. has a 12 month low of $105.16 and a 12 month high of $184.88.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $1.61 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.42. WellCare Health Plans had a return on equity of 14.75% and a net margin of 1.85%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the company earned $1.06 EPS. The company’s revenue was up 11.6% on a year-over-year basis. On average, equities research analysts predict that WellCare Health Plans, Inc. will post $6.86 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “WellCare Health Plans, Inc. (NYSE:WCG) Stake Reduced by Eqis Capital Management Inc.” was published by Daily Political and is the property of of Daily Political. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.dailypolitical.com/2017/07/21/wellcare-health-plans-inc-nysewcg-stake-reduced-by-eqis-capital-management-inc.html.

Several research analysts have commented on WCG shares. Jefferies Group LLC reaffirmed a “hold” rating and issued a $142.00 price target on shares of WellCare Health Plans in a research report on Wednesday, April 19th. Morgan Stanley started coverage on WellCare Health Plans in a research report on Tuesday, June 6th. They issued an “equal weight” rating and a $183.00 price target on the stock. Deutsche Bank AG lifted their price target on WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Leerink Swann reaffirmed an “outperform” rating and issued a $225.00 price target (up from $185.00) on shares of WellCare Health Plans in a research report on Thursday, June 22nd. Finally, Bank of America Corporation boosted their price objective on WellCare Health Plans from $185.00 to $189.00 and gave the company a “neutral” rating in a research report on Friday, July 14th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. WellCare Health Plans presently has a consensus rating of “Hold” and an average target price of $165.75.

In other WellCare Health Plans news, Director Paul E. Weaver sold 2,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $175.44, for a total transaction of $350,880.00. Following the transaction, the director now owns 15,262 shares in the company, valued at approximately $2,677,565.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Michael Troy Meyer sold 600 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $171.86, for a total value of $103,116.00. Following the transaction, the vice president now owns 73 shares in the company, valued at approximately $12,545.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,019 shares of company stock worth $4,133,066. Corporate insiders own 0.50% of the company’s stock.

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.

Want to see what other hedge funds are holding WCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WellCare Health Plans, Inc. (NYSE:WCG).

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

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