State of Alaska Department of Revenue purchased a new position in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the second quarter, Holdings Channel reports. The fund purchased 676 shares of the company’s stock, valued at approximately $121,000.

A number of other hedge funds have also recently modified their holdings of WCG. NN Investment Partners Holdings N.V. purchased a new stake in shares of WellCare Health Plans during the second quarter worth approximately $737,000. Capstone Asset Management Co. boosted its stake in shares of WellCare Health Plans by 9.1% in the second quarter. Capstone Asset Management Co. now owns 7,009 shares of the company’s stock worth $1,259,000 after buying an additional 587 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of WellCare Health Plans by 62.9% in the first quarter. Nuveen Asset Management LLC now owns 97,459 shares of the company’s stock worth $13,665,000 after buying an additional 37,647 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of WellCare Health Plans by 5.1% in the first quarter. Public Employees Retirement System of Ohio now owns 49,897 shares of the company’s stock worth $6,996,000 after buying an additional 2,402 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of WellCare Health Plans during the first quarter worth approximately $15,123,000. 98.71% of the stock is currently owned by institutional investors and hedge funds.

WellCare Health Plans, Inc. (NYSE:WCG) traded up 0.21% during midday trading on Friday, hitting $172.39. 319,511 shares of the company were exchanged. The firm has a market capitalization of $7.67 billion, a PE ratio of 30.29 and a beta of 0.84. The stock has a 50 day moving average of $179.68 and a 200 day moving average of $160.58. WellCare Health Plans, Inc. has a 1-year low of $109.74 and a 1-year high of $184.88.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Friday, August 4th. The company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.23 by $0.29. WellCare Health Plans had a net margin of 1.66% and a return on equity of 14.91%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same quarter in the previous year, the firm posted $2.23 earnings per share. WellCare Health Plans’s quarterly revenue was up 19.8% on a year-over-year basis. On average, equities analysts predict that WellCare Health Plans, Inc. will post $6.99 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “676 Shares in WellCare Health Plans, Inc. (WCG) Acquired by State of Alaska Department of Revenue” was first reported by Daily Political and is owned by of Daily Political. If you are reading this report on another publication, it was stolen and reposted in violation of US and international copyright & trademark laws. The original version of this report can be viewed at https://www.dailypolitical.com/2017/08/12/676-shares-in-wellcare-health-plans-inc-wcg-acquired-by-state-of-alaska-department-of-revenue.html.

A number of analysts have commented on the stock. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a research report on Friday. Morgan Stanley increased their price objective on shares of WellCare Health Plans from $183.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. BidaskClub cut shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Bank of America Corporation increased their price objective on shares of WellCare Health Plans from $185.00 to $189.00 and gave the stock a “neutral” rating in a research report on Friday, July 14th. Finally, Deutsche Bank AG increased their price objective on shares of WellCare Health Plans from $185.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, July 13th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. WellCare Health Plans presently has an average rating of “Hold” and an average target price of $172.00.

In related news, VP Michael Troy Meyer sold 600 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $171.86, for a total transaction of $103,116.00. Following the sale, the vice president now owns 73 shares of the company’s stock, valued at $12,545.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Lynn Asher sold 7,314 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $175.04, for a total transaction of $1,280,242.56. Following the sale, the chief financial officer now directly owns 13,244 shares in the company, valued at approximately $2,318,229.76. The disclosure for this sale can be found here. Insiders have sold 12,914 shares of company stock worth $2,255,369 in the last three months. 0.50% of the stock is currently owned by insiders.

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.