State Board of Administration of Florida Retirement System increased its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,647 shares of the company’s stock after purchasing an additional 3,846 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.13% of WellCare Health Plans worth $10,244,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WCG. Capital Research Global Investors purchased a new stake in shares of WellCare Health Plans during the second quarter worth about $170,042,000. American Century Companies Inc. grew its position in shares of WellCare Health Plans by 712.9% during the second quarter. American Century Companies Inc. now owns 371,561 shares of the company’s stock worth $66,717,000 after purchasing an additional 325,853 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of WellCare Health Plans by 37.7% during the second quarter. Renaissance Technologies LLC now owns 851,293 shares of the company’s stock worth $152,858,000 after purchasing an additional 232,993 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of WellCare Health Plans during the second quarter worth about $30,078,000. Finally, FMR LLC grew its position in shares of WellCare Health Plans by 285.7% during the second quarter. FMR LLC now owns 211,664 shares of the company’s stock worth $38,007,000 after purchasing an additional 156,786 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

WCG has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on WellCare Health Plans in a report on Monday, October 16th. They set an “outperform” rating and a $215.00 price target for the company. Cantor Fitzgerald restated a “buy” rating and set a $195.00 price target on shares of WellCare Health Plans in a report on Saturday, August 26th. Cowen and Company initiated coverage on WellCare Health Plans in a report on Monday, October 9th. They set an “outperform” rating and a $200.00 price target for the company. ValuEngine cut WellCare Health Plans from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Jefferies Group LLC raised their price target on WellCare Health Plans from $189.00 to $190.00 and gave the company a “hold” rating in a report on Friday, October 13th. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $195.27.

In related news, Director Carol Burt sold 997 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total transaction of $201,593.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kenneth A. Burdick sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $174.24, for a total value of $1,481,040.00. Following the sale, the chief executive officer now directly owns 23,627 shares of the company’s stock, valued at $4,116,768.48. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.

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WellCare Health Plans, Inc. (NYSE WCG) opened at $200.55 on Friday. The company has a market capitalization of $8,928.89, a P/E ratio of 21.70, a PEG ratio of 1.54 and a beta of 0.81. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. WellCare Health Plans, Inc. has a 1-year low of $119.69 and a 1-year high of $208.89.

WellCare Health Plans (NYSE:WCG) last announced its earnings results on Tuesday, October 31st. The company reported $4.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.90 by $2.18. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.37 billion. WellCare Health Plans had a return on equity of 19.42% and a net margin of 2.21%. The company’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.63 EPS. research analysts forecast that WellCare Health Plans, Inc. will post 8.46 earnings per share for the current year.

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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