Magnus Financial Group LLC Grows Stake in WellCare Health Plans, Inc. (NYSE:WCG)

Magnus Financial Group LLC raised its stake in WellCare Health Plans, Inc. (NYSE:WCG) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 954 shares of the company’s stock after acquiring an additional 39 shares during the quarter. Magnus Financial Group LLC’s holdings in WellCare Health Plans were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WCG. Meeder Asset Management Inc. bought a new stake in WellCare Health Plans during the 2nd quarter worth approximately $33,000. Eagle Asset Management Inc. increased its holdings in WellCare Health Plans by 0.8% during the 2nd quarter. Eagle Asset Management Inc. now owns 233,928 shares of the company’s stock worth $66,685,000 after acquiring an additional 1,962 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in WellCare Health Plans during the 2nd quarter worth approximately $11,631,000. Gabelli Funds LLC bought a new stake in WellCare Health Plans during the 2nd quarter worth approximately $5,160,000. Finally, Gamco Investors INC. ET AL bought a new stake in WellCare Health Plans during the 2nd quarter worth approximately $599,000. Hedge funds and other institutional investors own 93.41% of the company’s stock.

WCG has been the topic of a number of analyst reports. Cantor Fitzgerald lowered shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 30th. Wells Fargo & Co decreased their target price on shares of WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Finally, 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 report on Monday, June 3rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $320.10.



Shares of NYSE:WCG traded down $1.05 during trading on Tuesday, reaching $272.31. The company had a trading volume of 9,341 shares, compared to its average volume of 489,057. The company has a fifty day moving average of $283.26 and a two-hundred day moving average of $273.12. The stock has a market capitalization of $13.66 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.36 and a beta of 0.93. WellCare Health Plans, Inc. has a 12 month low of $220.63 and a 12 month high of $324.99. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.45.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $4.31 EPS for the quarter, topping the Zacks’ consensus estimate of $4.16 by $0.15. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $6.63 billion. WellCare Health Plans had a net margin of 2.09% and a return on equity of 14.95%. The business’s revenue for the quarter was up 51.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.69 EPS. As a group, equities research analysts predict that WellCare Health Plans, Inc. will post 13.91 earnings per share for the current 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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Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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