Panagora Asset Management Inc. decreased its position in WellCare Health Plans, Inc. (NYSE:WCG) by 88.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,417 shares of the company’s stock after selling 32,764 shares during the quarter. Panagora Asset Management Inc.’s holdings in WellCare Health Plans were worth $1,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in WCG. Bremer Bank National Association acquired a new stake in shares of WellCare Health Plans during the first quarter worth $28,000. Icon Wealth Partners LLC acquired a new position in shares of WellCare Health Plans during the 1st quarter valued at about $30,000. Meeder Asset Management Inc. purchased a new position in shares of WellCare Health Plans during the 2nd quarter worth about $33,000. Berman Capital Advisors LLC boosted its position in shares of WellCare Health Plans by 165.3% in the second quarter. Berman Capital Advisors LLC now owns 130 shares of the company’s stock worth $37,000 after acquiring an additional 81 shares during the last quarter. Finally, Financial Gravity Wealth Inc. grew its holdings in WellCare Health Plans by 4,633.3% in the second quarter. Financial Gravity Wealth Inc. now owns 142 shares of the company’s stock valued at $40,000 after purchasing an additional 139 shares during the period. Institutional investors own 93.04% of the company’s stock.

Shares of NYSE:WCG traded down $1.68 during trading on Wednesday, reaching $272.44. 4,993 shares of the stock were exchanged, compared to its average volume of 344,953. The firm’s 50-day moving average price is $275.89 and its 200 day moving average price is $272.28. The firm has a market cap of $13.58 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 1.33 and a beta of 0.95. WellCare Health Plans, Inc. has a 12-month low of $220.63 and a 12-month high of $324.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.23 and a current ratio of 1.23.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $4.31 earnings per share for the quarter, beating analysts’ consensus estimates of $4.16 by $0.15. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.63 billion. During the same period in the previous year, the company posted $3.69 earnings per share. WellCare Health Plans’s revenue was up 51.1% compared to the same quarter last year. As a group, equities research analysts forecast that WellCare Health Plans, Inc. will post 13.91 EPS for the current year.

Several brokerages recently commented on WCG. Cantor Fitzgerald downgraded shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research note on Tuesday, July 30th. Stephens lowered shares of WellCare Health Plans from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $330.00 to $317.00 in a report on Monday. Finally, BMO Capital Markets cut shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 price objective for the company. in a research note on Monday, June 3rd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $320.22.

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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