Municipal Employees Retirement System of Michigan cut its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 21.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,460 shares of the company’s stock after selling 3,710 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in WellCare Health Plans were worth $2,312,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. State of Alaska Department of Revenue purchased a new stake in WellCare Health Plans during the second quarter worth about $121,000. Advisory Services Network LLC increased its stake in WellCare Health Plans by 8.4% during the second quarter. Advisory Services Network LLC now owns 866 shares of the company’s stock worth $155,000 after purchasing an additional 67 shares during the period. Eagle Global Advisors LLC purchased a new stake in WellCare Health Plans during the second quarter worth about $211,000. Harvest Fund Management Co. Ltd increased its stake in WellCare Health Plans by 29.3% during the second quarter. Harvest Fund Management Co. Ltd now owns 1,318 shares of the company’s stock worth $237,000 after purchasing an additional 299 shares during the period. Finally, Ronald Blue & Co. LLC purchased a new stake in WellCare Health Plans during the second quarter worth about $240,000. Institutional investors own 98.17% of the company’s stock.

In other news, Director Carol Burt sold 997 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $202.20, for a total value of $201,593.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth A. Burdick sold 8,500 shares of the stock in a transaction 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 corporate insiders.

WellCare Health Plans, Inc. (NYSE:WCG) traded up $1.10 during mid-day trading on Tuesday, hitting $201.65. The stock had a trading volume of 498,200 shares, compared to its average volume of 365,530. The firm has a market capitalization of $8,928.80, a P/E ratio of 21.70, a P/E/G ratio of 1.54 and a beta of 0.81. WellCare Health Plans, Inc. has a 1-year low of $122.05 and a 1-year high of $208.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.28 and a quick ratio of 1.28.

WellCare Health Plans (NYSE:WCG) last posted its quarterly earnings data on Tuesday, October 31st. The company reported $4.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $2.18. The business had revenue of $4.40 billion during the quarter, compared to the consensus estimate 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 revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 earnings per share. equities research analysts expect that WellCare Health Plans, Inc. will post 8.46 EPS for the current fiscal year.

A number of analysts have issued reports on WCG shares. Piper Jaffray Companies reiterated a “buy” rating and set a $214.00 price target on shares of WellCare Health Plans in a research note on Wednesday, November 1st. BidaskClub lowered shares of WellCare Health Plans from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. ValuEngine upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Cantor Fitzgerald reiterated a “buy” rating and set a $195.00 price target on shares of WellCare Health Plans in a research note on Saturday, August 26th. Finally, Zacks Investment Research upgraded 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 note on Friday, August 11th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. WellCare Health Plans presently has a consensus rating of “Hold” and an average target price of $195.27.

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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.

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

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