State of Alaska Department of Revenue lessened its holdings in WellCare Health Plans, Inc. (NYSE:WCG) by 1.3% in the first quarter, Holdings Channel reports. The institutional investor owned 12,090 shares of the company’s stock after selling 164 shares during the period. State of Alaska Department of Revenue’s holdings in WellCare Health Plans were worth $3,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hudson Bay Capital Management LP bought a new position in WellCare Health Plans in the 4th quarter valued at approximately $32,386,000. Northern Trust Corp increased its position in WellCare Health Plans by 13.5% during the 4th quarter. Northern Trust Corp now owns 533,830 shares of the company’s stock valued at $126,032,000 after purchasing an additional 63,586 shares during the period. Exane Asset Management acquired a new stake in WellCare Health Plans during the 4th quarter valued at approximately $220,000. Lake Point Wealth Management acquired a new stake in WellCare Health Plans during the 4th quarter valued at approximately $188,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in WellCare Health Plans by 67.4% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 159 shares of the company’s stock valued at $38,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 98.49% of the company’s stock.

Shares of WCG stock opened at $270.34 on Monday. The company has a market cap of $13.96 billion, a PE ratio of 24.51, a P/E/G ratio of 1.29 and a beta of 1.24. WellCare Health Plans, Inc. has a 52 week low of $192.73 and a 52 week high of $324.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.36 and a quick ratio of 1.36.

WellCare Health Plans (NYSE:WCG) last announced its quarterly earnings data on Tuesday, February 5th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.55 by $0.08. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.85 billion. WellCare Health Plans had a net margin of 2.15% and a return on equity of 15.39%. The company’s quarterly revenue was up 37.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. On average, sell-side analysts expect that WellCare Health Plans, Inc. will post 13.6 earnings per share for the current fiscal year.

A number of research firms have weighed in on WCG. ValuEngine raised shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research report on Thursday, January 24th. Stephens initiated coverage on shares of WellCare Health Plans in a research report on Monday, January 14th. They set an “overweight” rating and a $276.00 price objective for the company. Wolfe Research raised shares of WellCare Health Plans from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 3rd. BMO Capital Markets raised their price objective on shares of WellCare Health Plans to $330.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 6th. Finally, Zacks Investment Research reaffirmed a “buy” rating and set a $251.00 price objective on shares of WellCare Health Plans in a research report on Monday, December 31st. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. WellCare Health Plans currently has an average rating of “Buy” and an average target price of $306.43.

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WellCare Health Plans Company 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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