Globeflex Capital L P boosted its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 155.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,449 shares of the company’s stock after purchasing an additional 10,018 shares during the period. WellCare Health Plans makes up 0.7% of Globeflex Capital L P’s portfolio, making the stock its 14th largest position. Globeflex Capital L P’s holdings in WellCare Health Plans were worth $2,954,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its stake in WellCare Health Plans by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,435,885 shares of the company’s stock worth $621,956,000 after purchasing an additional 231,890 shares during the last quarter. BlackRock Inc. lifted its stake in WellCare Health Plans by 1.6% in the second quarter. BlackRock Inc. now owns 4,260,559 shares of the company’s stock worth $765,026,000 after purchasing an additional 65,439 shares during the last quarter. AQR Capital Management LLC lifted its stake in 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 worth $296,455,000 after purchasing an additional 334,095 shares during the last quarter. Acadian Asset Management LLC lifted its stake in WellCare Health Plans by 1.8% in the second quarter. Acadian Asset Management LLC now owns 1,544,686 shares of the company’s stock worth $277,365,000 after purchasing an additional 27,855 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in WellCare Health Plans by 157.2% in the first quarter. Renaissance Technologies LLC now owns 618,300 shares of the company’s stock worth $86,692,000 after purchasing an additional 377,900 shares during the last quarter. 97.78% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on the stock. Mitsubishi UFJ Financial Group began coverage on shares of WellCare Health Plans in a research note on Thursday. They issued an “overweight” rating and a $204.00 price target for the company. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $195.00 price objective on shares of WellCare Health Plans in a research note on Saturday, August 26th. Zacks Investment Research raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price objective for the company in a research note on Friday, August 11th. Finally, Morgan Stanley upped their price objective on shares of 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. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. WellCare Health Plans presently has a consensus rating of “Hold” and a consensus price target of $176.23.

WellCare Health Plans, Inc. (NYSE WCG) traded up 0.66% during trading on Friday, reaching $167.16. 447,090 shares of the company were exchanged. The company’s 50-day moving average price is $173.61 and its 200-day moving average price is $166.40. The stock has a market capitalization of $7.44 billion, a P/E ratio of 29.37 and a beta of 0.88. WellCare Health Plans, Inc. has a 1-year low of $112.40 and a 1-year high of $184.88.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data 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 analyst estimates of $4.23 billion. During the same quarter last year, the business posted $2.23 EPS. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities analysts forecast that WellCare Health Plans, Inc. will post $6.98 EPS for the current year.

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In related news, CEO Kenneth A. Burdick sold 8,500 shares of WellCare Health Plans stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $174.24, for a total transaction of $1,481,040.00. Following the completion of the sale, the chief executive officer now owns 23,627 shares in the company, valued at approximately $4,116,768.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of WellCare Health Plans stock in a transaction dated 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 sale, the director now owns 5,722 shares of the company’s stock, valued at approximately $984,012.34. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

WellCare Health Plans 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.

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

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