Candriam Luxembourg S.C.A. lowered its stake in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,060 shares of the company’s stock after selling 232 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in WellCare Health Plans were worth $1,095,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. We Are One Seven LLC bought a new stake in WellCare Health Plans during the 4th quarter worth about $27,000. Trust Co. of Vermont bought a new position in shares of WellCare Health Plans in the 4th quarter valued at about $27,000. Flagship Harbor Advisors LLC boosted its stake in shares of WellCare Health Plans by 766.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 104 shares of the company’s stock valued at $28,000 after purchasing an additional 92 shares during the last quarter. Cornerstone Advisors Inc. boosted its stake in shares of WellCare Health Plans by 1,425.0% in the 4th quarter. Cornerstone Advisors Inc. now owns 122 shares of the company’s stock valued at $29,000 after purchasing an additional 114 shares during the last quarter. Finally, Kaizen Advisory LLC bought a new position in shares of WellCare Health Plans in the 4th quarter valued at about $29,000. 98.49% of the stock is currently owned by hedge funds and other institutional investors.
WCG has been the topic of several recent research reports. BMO Capital Markets raised their target price on shares of WellCare Health Plans to $330.00 and gave the company an “outperform” rating in a research note on Wednesday, February 6th. Cowen initiated coverage on shares of WellCare Health Plans in a research note on Thursday, February 28th. They issued an “outperform” rating on the stock. Credit Suisse Group initiated coverage on shares of WellCare Health Plans in a research note on Monday, April 15th. They issued a “neutral” rating and a $307.00 target price on the stock. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. Finally, Wells Fargo & Co reduced their target price on shares of WellCare Health Plans from $346.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. WellCare Health Plans currently has a consensus rating of “Buy” and an average price target of $311.13.
WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.59. The business had revenue of $6.76 billion for 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%. WellCare Health Plans’s revenue for the quarter was up 45.5% on a year-over-year basis. During the same period last year, the company posted $2.47 EPS. On average, analysts forecast that WellCare Health Plans, Inc. will post 13.95 EPS for the current fiscal year.
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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