Penn Capital Management Co. Inc. increased its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 41.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,125 shares of the company’s stock after acquiring an additional 26,025 shares during the quarter. WellCare Health Plans accounts for about 1.2% of Penn Capital Management Co. Inc.’s holdings, making the stock its 18th largest position. Penn Capital Management Co. Inc. owned approximately 0.20% of WellCare Health Plans worth $16,174,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of WellCare Health Plans by 5.5% during the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock valued at $621,956,000 after acquiring an additional 231,890 shares during the period. BlackRock Inc. increased its stake in WellCare Health Plans by 1.6% in the 2nd quarter. BlackRock Inc. now owns 4,260,559 shares of the company’s stock valued at $765,026,000 after buying an additional 65,439 shares during the period. AQR Capital Management LLC increased its stake in WellCare Health Plans by 18.8% in the 1st 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 during the period. Acadian Asset Management LLC increased its stake in WellCare Health Plans by 1.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,544,686 shares of the company’s stock valued at $277,365,000 after buying an additional 27,855 shares during the period. Finally, Renaissance Technologies LLC increased its stake in WellCare Health Plans by 157.2% in the 1st 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 during the period. Institutional investors and hedge funds own 97.78% of the company’s stock.

Several research analysts have weighed in on WCG shares. Jefferies Group LLC reiterated a “hold” rating and issued a $170.00 price objective on shares of WellCare Health Plans in a research note on Thursday, June 8th. Morgan Stanley started coverage on shares of WellCare Health Plans in a research note on Tuesday, June 6th. They issued an “equal weight” rating and a $183.00 price objective on the stock. Deutsche Bank AG upped their price objective on shares of WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Leerink Swann reiterated an “outperform” rating and issued a $225.00 price objective (up previously from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Finally, Zacks Investment Research upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a research note on Friday, August 11th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. WellCare Health Plans presently has a consensus rating of “Hold” and an average price target of $173.92.

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Shares of WellCare Health Plans, Inc. (WCG) traded down 0.05% during mid-day trading on Wednesday, reaching $168.07. 114,921 shares of the company’s stock were exchanged. The stock has a market cap of $7.48 billion, a price-to-earnings ratio of 29.53 and a beta of 0.88. The stock’s 50-day moving average is $173.61 and its 200-day moving average is $166.40. WellCare Health Plans, Inc. has a 52-week low of $112.40 and a 52-week high of $184.88.

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

In other WellCare Health Plans news, CEO Kenneth A. Burdick sold 8,500 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the transaction, the chief executive officer now directly owns 23,627 shares in the company, valued at $4,116,768.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $171.97, for a total transaction of $1,440,076.78. Following the completion of the transaction, the director now owns 5,722 shares in the company, valued at $984,012.34. The disclosure for this sale can be found here. 0.50% of the stock is 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.

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

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