WellCare Health Plans, Inc. (NYSE:WCG) EVP Kelly A. Munson sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $173.71, for a total value of $521,130.00. Following the completion of the sale, the executive vice president now owns 4,243 shares in the company, valued at approximately $737,051.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
WellCare Health Plans, Inc. (NYSE:WCG) traded up 0.73% during trading on Friday, reaching $174.66. The company’s stock had a trading volume of 410,276 shares. The stock has a 50-day moving average price of $171.32 and a 200 day moving average price of $149.60. WellCare Health Plans, Inc. has a 52-week low of $101.98 and a 52-week high of $181.04. The company has a market cap of $7.77 billion, a PE ratio of 28.74 and a beta of 0.79.
WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Wednesday, May 3rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.42. WellCare Health Plans had a return on equity of 14.75% and a net margin of 1.85%. The firm had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The company’s revenue was up 11.6% compared to the same quarter last year. On average, analysts expect that WellCare Health Plans, Inc. will post $6.86 EPS for the current year.
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Several large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in WellCare Health Plans during the first quarter worth $112,000. Creative Planning raised its stake in WellCare Health Plans by 3.0% in the first quarter. Creative Planning now owns 862 shares of the company’s stock worth $121,000 after buying an additional 25 shares during the period. Focused Wealth Management Inc bought a new stake in WellCare Health Plans during the fourth quarter worth $123,000. Neuberger Berman Group LLC raised its stake in WellCare Health Plans by 1.1% in the first quarter. Neuberger Berman Group LLC now owns 1,539 shares of the company’s stock worth $216,000 after buying an additional 16 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in WellCare Health Plans during the first quarter worth $217,000. 99.36% of the stock is owned by institutional investors.
WCG has been the topic of several recent analyst reports. Zacks Investment Research lowered WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Monday, March 6th. Deutsche Bank AG initiated coverage on WellCare Health Plans in a research report on Wednesday, April 5th. They set a “buy” rating and a $168.00 price target on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $142.00 price target on shares of WellCare Health Plans in a research report on Wednesday, April 19th. Wolfe Research reaffirmed a “market perform” rating on shares of WellCare Health Plans in a research report on Friday, May 5th. Finally, Morgan Stanley began coverage on WellCare Health Plans in a research report on Tuesday, June 6th. They set an “equal weight” rating and a $183.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $146.92.
WellCare Health Plans Company Profile
WellCare Health Plans, Inc is a managed care company. The Company focuses 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 medical needs. The Company operates through three segments: Medicaid Health Plans, Medicare Health Plans and Medicare PDPs.
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