Sentry Investment Management LLC purchased a new position in shares of WellCare Health Plans, Inc. (NYSE:WCG) in the third quarter, Holdings Channel reports. The fund purchased 2,724 shares of the company’s stock, valued at approximately $873,000.

A number of other hedge funds have also made changes to their positions in WCG. Ladenburg Thalmann Financial Services Inc. boosted its position in WellCare Health Plans by 98.9% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 561 shares of the company’s stock worth $108,000 after acquiring an additional 279 shares during the period. LPL Financial LLC boosted its position in WellCare Health Plans by 77.2% during the 1st quarter. LPL Financial LLC now owns 2,589 shares of the company’s stock worth $501,000 after acquiring an additional 1,128 shares during the period. Principal Financial Group Inc. boosted its position in WellCare Health Plans by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 207,477 shares of the company’s stock worth $40,174,000 after acquiring an additional 5,962 shares during the period. Allianz Asset Management GmbH boosted its position in WellCare Health Plans by 1.7% during the 1st quarter. Allianz Asset Management GmbH now owns 200,074 shares of the company’s stock worth $38,741,000 after acquiring an additional 3,415 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in WellCare Health Plans by 32.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,746 shares of the company’s stock worth $1,659,000 after acquiring an additional 1,650 shares during the period. Institutional investors own 97.29% of the company’s stock.

A number of brokerages have issued reports on WCG. Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “strong-buy” rating and set a $295.00 price target for the company in a research report on Thursday, July 26th. SunTrust Banks upped their price objective on WellCare Health Plans to $315.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Morgan Stanley upped their price objective on WellCare Health Plans from $258.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, August 1st. Argus upped their price objective on WellCare Health Plans from $265.00 to $360.00 and gave the company a “buy” rating in a report on Friday, August 31st. Finally, Bank of America upped their price objective on WellCare Health Plans from $260.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. WellCare Health Plans currently has an average rating of “Buy” and a consensus price target of $301.13.

Shares of WellCare Health Plans stock opened at $273.32 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $13.76 billion, a PE ratio of 32.08, a PEG ratio of 1.53 and a beta of 1.23. WellCare Health Plans, Inc. has a fifty-two week low of $187.06 and a fifty-two week high of $324.99.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.09 by $0.24. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.06 billion. WellCare Health Plans had a return on equity of 15.45% and a net margin of 2.38%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.08 earnings per share. Equities analysts anticipate that WellCare Health Plans, Inc. will post 11.01 earnings per share for the current fiscal year.

In other news, EVP Yount Michael sold 500 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $263.38, for a total transaction of $131,690.00. Following the sale, the executive vice president now directly owns 7,044 shares of the company’s stock, valued at $1,855,248.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.59% of the stock is owned by insiders.

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WellCare Health Plans Company Profile

WellCare Health Plans, Inc provides managed care services for government-sponsored health care programs. It operates through three segments: Medicaid Health Plans, Medicare Health Plans, and Medicare 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 for qualifying families who are not eligible for Medicaid.

Further Reading: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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