Posted by ABMN Staff on Sep
14th, 2019
Tower Research Capital LLC TRC boosted its
position in WellCare Health Plans, Inc. (NYSE:WCG) by 367.6% during the second
quarter, according to its most recent 13F filing with the Securities and
Exchange Commission (SEC). The institutional investor owned 7,936 shares of the
company’s stock after buying an additional 6,239 shares during the quarter.
Tower Research Capital LLC TRC’s holdings in WellCare Health Plans were worth
$2,262,000 at the end of the most recent quarter.
A number of other hedge funds have also
recently modified their holdings of WCG. Magnus Financial Group LLC raised its
stake in shares of WellCare Health Plans by 4.3% in the 2nd quarter. Magnus
Financial Group LLC now owns 954 shares of the company’s stock valued at
$272,000 after purchasing an additional 39 shares in the last quarter. Meiji
Yasuda Asset Management Co Ltd. raised its stake in shares of WellCare Health
Plans by 1.3% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now
owns 3,150 shares of the company’s stock valued at $850,000 after purchasing an
additional 40 shares in the last quarter. World Asset Management Inc raised its
stake in shares of WellCare Health Plans by 1.6% in the 2nd quarter. World
Asset Management Inc now owns 3,635 shares of the company’s stock valued at
$1,036,000 after purchasing an additional 58 shares in the last quarter.
Northwestern Mutual Investment Management Company LLC raised its stake in
shares of WellCare Health Plans by 0.8% in the 1st quarter. Northwestern Mutual
Investment Management Company LLC now owns 7,596 shares of the company’s stock
valued at $2,049,000 after purchasing an additional 62 shares in the last
quarter. Finally, Great Lakes Advisors LLC raised its stake in shares of
WellCare Health Plans by 4.0% in the 1st quarter. Great Lakes Advisors LLC now
owns 1,856 shares of the company’s stock valued at $501,000 after purchasing an
additional 71 shares in the last quarter. Hedge funds and other institutional
investors own 93.04% of the company’s stock.
Shares of WellCare Health Plans stock traded up
$1.55 during trading on Friday, reaching $267.18. The company had a trading
volume of 517,608 shares, compared to its average volume of 350,928. 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, Inc. has a fifty-two week low of $220.63
and a fifty-two week high of $324.99. The firm’s fifty day moving average is
$275.21 and its 200-day moving average is $272.23. The company has a market cap
of $13.70 billion, a price-to-earnings ratio of 24.22, a
price-to-earnings-growth ratio of 1.35 and a beta of 0.95.
WellCare Health Plans (NYSE:WCG) last
announced its quarterly earnings data 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 business had revenue of $7.01 billion
during the quarter, compared to the consensus estimate of $6.63 billion. During
the same quarter in the prior year, the firm earned $3.69 EPS. The company’s
revenue for the quarter was up 51.1% compared to the same quarter last year. On
average, research analysts anticipate that WellCare Health Plans, Inc. will
post 13.91 EPS for the current fiscal year.
WCG has been the topic of a number of recent
analyst reports. BMO Capital Markets lowered shares of WellCare Health Plans
from an “outperform” rating to a “market perform” rating and set a $304.00
target price on the stock. in a research note on Monday, June 3rd. Stephens
lowered shares of WellCare Health Plans from an “overweight” rating to an
“equal weight” rating and cut their target price for the company from $330.00
to $317.00 in a research note on Monday, September 9th. Finally, Cantor
Fitzgerald lowered shares of WellCare Health Plans from an “overweight” rating
to a “neutral” rating in a research note on Tuesday, July 30th. Six equities
research analysts have rated the stock with a hold rating and five have given a
buy rating to the company. WellCare Health Plans presently has a consensus
rating of “Hold” and an average target price of $316.50.
WellCare Health Plans 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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