Today, WellCare Health Plans Inc. (WCG) Stake Held by Arizona State Retirement System

Today, WellCare Health Plans Inc. (WCG) Stake Held by Arizona State Retirement System

Arizona State Retirement System continued to hold its position in shares of WellCare Health Plans Inc. (NYSE:WCG) during the third quarter, Holdings Channel reports. The fund owned 18,473 shares of the company’s stock at the end of the third quarter. Arizona State Retirement System’s holdings in WellCare Health Plans were worth $2,163,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WCG. Sterling Capital Management LLC increased its position in shares of WellCare Health Plans by 0.4% in the second quarter. Sterling Capital Management LLC now owns 6,086 shares of the company’s stock worth $653,000 after buying an additional 25 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of WellCare Health Plans by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,639 shares of the company’s stock worth $820,000 after buying an additional 27 shares during the period. First Citizens Bank & Trust Co. increased its position in shares of WellCare Health Plans by 1.7% in the third quarter. First Citizens Bank & Trust Co. now owns 2,229 shares of the company’s stock worth $261,000 after buying an additional 38 shares during the period. Stifel Financial Corp increased its position in shares of WellCare Health Plans by 1.2% in the second quarter. Stifel Financial Corp now owns 3,939 shares of the company’s stock worth $423,000 after buying an additional 47 shares during the period. Finally, Capstone Asset Management Co. increased its position in shares of WellCare Health Plans by 1.4% in the third quarter. Capstone Asset Management Co. now owns 4,443 shares of the company’s stock worth $520,000 after buying an additional 60 shares during the period.

WellCare Health Plans Inc. (NYSE:WCG) traded down 0.49% on Monday, reaching $133.84. The company’s stock had a trading volume of 352,030 shares. The firm has a 50-day moving average price of $121.82 and a 200 day moving average price of $112.20. The firm has a market capitalization of $5.93 billion, a P/E ratio of 28.34 and a beta of 0.93. WellCare Health Plans Inc. has a 52-week low of $69.16 and a 52-week high of $136.26.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, November 1st. The company reported $1.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.52. The company earned $3.58 billion during the quarter, compared to analysts’ expectations of $3.51 billion. WellCare Health Plans had a return on equity of 13.48% and a net margin of 1.47%. The business’s revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. Equities analysts anticipate that WellCare Health Plans Inc. will post $5.43 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the company. Jefferies Group increased their price objective on WellCare Health Plans to $105.00 in a report on Wednesday, August 3rd. JPMorgan Chase & Co. downgraded WellCare Health Plans from an “overweight” rating to a “neutral” rating and set a $115.00 price objective for the company. in a report on Thursday, November 10th. Credit Suisse Group AG reissued a “sell” rating and issued a $100.00 price objective on shares of WellCare Health Plans in a report on Wednesday, August 3rd. Wedbush reissued a “neutral” rating and issued a $119.00 price objective (down from $126.00) on shares of WellCare Health Plans in a report on Wednesday, August 3rd. Finally, Leerink Swann reissued a “buy” rating on shares of WellCare Health Plans in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $105.89.

In other news, Director Paul E. Weaver sold 3,000 shares of the stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $128.83, for a total transaction of $386,490.00. Following the completion of the transaction, the director now directly owns 15,892 shares in the company, valued at approximately $2,047,366.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.50% of the company’s stock.

WellCare Health Plans Company Profile

WellCare Health Plans, Inc is a managed care company focused 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 complex medical needs. The Company’s segments include Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.

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