Nationwide Fund Advisors lessened its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 12.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 176,192 shares of the company’s stock after selling 25,645 shares during the period. Nationwide Fund Advisors owned approximately 0.40% of WellCare Health Plans worth $31,637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. World Asset Management Inc increased its stake in WellCare Health Plans by 0.3% during the second quarter. World Asset Management Inc now owns 3,428 shares of the company’s stock valued at $616,000 after acquiring an additional 11 shares during the period. Neuberger Berman Group LLC increased its stake in WellCare Health Plans by 1.1% during the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock valued at $216,000 after acquiring an additional 16 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in WellCare Health Plans by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,493 shares of the company’s stock valued at $1,166,000 after acquiring an additional 22 shares during the period. Meeder Asset Management Inc. increased its stake in WellCare Health Plans by 0.6% during the second quarter. Meeder Asset Management Inc. now owns 9,779 shares of the company’s stock valued at $1,755,000 after acquiring an additional 63 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in WellCare Health Plans by 2.2% during the second quarter. Teacher Retirement System of Texas now owns 3,551 shares of the company’s stock valued at $638,000 after acquiring an additional 77 shares during the period. 97.81% of the stock is owned by institutional investors and hedge funds.

In other news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total value of $1,440,076.78. Following the completion of the sale, the director now directly owns 5,722 shares in the company, valued at $984,012.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by insiders.

Several brokerages recently issued reports on WCG. ValuEngine upgraded WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cantor Fitzgerald restated a “buy” rating and set a $195.00 price target on shares of WellCare Health Plans in a research note on Saturday, August 26th. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a research note on Friday, August 11th. Morgan Stanley boosted their price target on WellCare Health Plans from $183.00 to $184.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Finally, BidaskClub lowered WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. WellCare Health Plans has a consensus rating of “Hold” and an average target price of $173.92.

WellCare Health Plans, Inc. (WCG) traded up 0.91% during midday trading on Friday, hitting $177.79. The stock had a trading volume of 429,045 shares. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 31.24 and a beta of 0.88. WellCare Health Plans, Inc. has a 1-year low of $111.36 and a 1-year high of $184.88. The company’s 50 day moving average is $173.98 and its 200 day moving average is $165.65.

WellCare Health Plans (NYSE:WCG) last released its quarterly earnings results on Friday, August 4th. The company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the business earned $2.23 earnings per share. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. On average, equities analysts anticipate that WellCare Health Plans, Inc. will post $6.99 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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Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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