Ellington Management Group LLC Buys New Position in WellCare Health Plans, Inc. (WCG)
Ellington Management Group LLC bought a new stake in WellCare Health Plans, Inc. (NYSE:WCG) during the fourth quarter, HoldingsChannel.com reports. The firm bought 1,500 shares of the company’s stock, valued at approximately $302,000.
Other hedge funds also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. bought a new stake in WellCare Health Plans in the third quarter valued at $103,000. Bessemer Group Inc. lifted its stake in WellCare Health Plans by 593.2% in the fourth quarter. Bessemer Group Inc. now owns 818 shares of the company’s stock valued at $165,000 after buying an additional 700 shares during the last quarter. Mackenzie Financial Corp bought a new stake in WellCare Health Plans in the fourth quarter valued at $202,000. Matisse Capital bought a new stake in shares of WellCare Health Plans during the fourth quarter valued at about $205,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of WellCare Health Plans during the third quarter valued at about $311,000. Institutional investors own 98.26% of the company’s stock.
WCG has been the topic of a number of recent analyst reports. Deutsche Bank lifted their price objective on shares of WellCare Health Plans to $240.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Cantor Fitzgerald restated a “buy” rating and set a $235.00 price objective on shares of WellCare Health Plans in a research note on Tuesday, February 6th. ValuEngine cut shares of WellCare Health Plans from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. Morgan Stanley lifted their price objective on shares of WellCare Health Plans from $214.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Finally, Goldman Sachs initiated coverage on shares of WellCare Health Plans in a research note on Wednesday, January 3rd. They set a “buy” rating and a $255.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. WellCare Health Plans currently has a consensus rating of “Buy” and an average target price of $217.86.
WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, February 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.32 billion. WellCare Health Plans had a return on equity of 17.10% and a net margin of 2.20%. WellCare Health Plans’s revenue was up 23.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.03 earnings per share. analysts anticipate that WellCare Health Plans, Inc. will post 9.79 EPS for the current year.
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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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