CNH Partners LLC bought a new stake in WellCare Health Plans, Inc. (NYSE:WCG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 235,000 shares of the company’s stock, valued at approximately $63,391,000.

Other hedge funds have also modified their holdings of the company. Flagship Harbor Advisors LLC increased its stake in WellCare Health Plans by 766.7% during the 1st quarter. Flagship Harbor Advisors LLC now owns 104 shares of the company’s stock worth $28,000 after buying an additional 92 shares during the period. Bremer Bank National Association purchased a new stake in WellCare Health Plans during the 1st quarter worth $28,000. Kaizen Advisory LLC purchased a new stake in WellCare Health Plans during the 4th quarter worth $29,000. Icon Wealth Partners LLC purchased a new stake in WellCare Health Plans during the 1st quarter worth $30,000. Finally, Semmax Financial Advisors Inc. purchased a new stake in WellCare Health Plans during the 4th quarter worth $34,000. 99.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of WCG traded up $0.09 during midday trading on Friday, hitting $287.10. The company had a trading volume of 353,077 shares, compared to its average volume of 924,900. The company has a market capitalization of $14.44 billion, a P/E ratio of 26.03, a PEG ratio of 1.41 and a beta of 1.02. WellCare Health Plans, Inc. has a 52 week low of $220.63 and a 52 week high of $324.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.28 and a current ratio of 1.28.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, April 30th. The company reported $3.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.10 by $0.59. The company had revenue of $6.76 billion during the quarter, compared to the consensus estimate of $6.56 billion. WellCare Health Plans had a net margin of 2.17% and a return on equity of 15.47%. The company’s revenue was up 45.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.47 EPS. As a group, sell-side analysts expect that WellCare Health Plans, Inc. will post 14 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on WCG shares. Cowen started coverage on shares of WellCare Health Plans in a research note on Thursday, February 28th. They set an “outperform” rating on the stock. ValuEngine downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Credit Suisse Group began coverage on shares of WellCare Health Plans in a research report on Monday, April 15th. They issued a “neutral” rating and a $307.00 target price for the company. Zacks Investment Research downgraded shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Co dropped their target price on shares of WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. WellCare Health Plans has a consensus rating of “Buy” and an average target price of $310.07.

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WellCare Health Plans Company Profile

WellCare Health Plans, Inc provides government-sponsored managed care services. The company operates in three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare Prescription Drug Plans (PDPs). The Medicaid Health Plans segment offers plans for beneficiaries of temporary assistance for needy families, supplemental security income, and aged blind and disabled residents; and other state-based programs, such as children's health insurance programs and long-term services and supports programs for qualifying families who are not eligible for Medicaid.

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

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