Renaissance Technologies LLC Purchases 232,993 Shares of WellCare Health Plans, Inc. (WCG)

Renaissance Technologies LLC raised its position in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 37.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 851,293 shares of the company’s stock after purchasing an additional 232,993 shares during the quarter. Renaissance Technologies LLC owned 1.91% of WellCare Health Plans worth $152,858,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in WCG. Wells Fargo & Company MN grew its stake in shares of WellCare Health Plans by 45.1% during the 1st quarter. Wells Fargo & Company MN now owns 78,410 shares of the company’s stock valued at $10,994,000 after purchasing an additional 24,362 shares during the period. World Asset Management Inc grew its stake in shares of WellCare Health Plans by 13.8% during the 1st quarter. World Asset Management Inc now owns 3,417 shares of the company’s stock valued at $479,000 after purchasing an additional 414 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of WellCare Health Plans by 31.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 62,459 shares of the company’s stock valued at $8,757,000 after purchasing an additional 14,884 shares during the period. Sei Investments Co. grew its stake in shares of WellCare Health Plans by 21.2% during the 1st quarter. Sei Investments Co. now owns 10,017 shares of the company’s stock valued at $1,404,000 after purchasing an additional 1,750 shares during the period. Finally, Martingale Asset Management L P bought a new stake in shares of WellCare Health Plans during the 1st quarter valued at about $2,763,000. Institutional investors and hedge funds own 97.78% of the company’s stock.

In other WellCare Health Plans news, Director Glenn Md Phd Steele, Jr. sold 8,374 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $171.97, for a total value of $1,440,076.78. Following the sale, the director now directly owns 5,722 shares of the company’s stock, valued at $984,012.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kenneth A. Burdick sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $174.24, for a total value of $1,481,040.00. Following the completion of the sale, the chief executive officer now directly owns 23,627 shares in the company, valued at $4,116,768.48. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

A number of equities research analysts have issued reports on WCG shares. Jefferies Group LLC restated a “hold” rating and set a $170.00 price target on shares of WellCare Health Plans in a research note on Thursday, June 8th. Morgan Stanley started coverage on WellCare Health Plans in a research note on Tuesday, June 6th. They set an “equal weight” rating and a $183.00 price target for the company. Deutsche Bank AG boosted their price target on WellCare Health Plans from $185.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Leerink Swann restated an “outperform” rating and set a $225.00 price target (up from $185.00) on shares of WellCare Health Plans in a research note on Thursday, June 22nd. Finally, Zacks Investment Research upgraded WellCare Health Plans from a “hold” rating to a “buy” rating and set a $193.00 price target for the company in a research note on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. WellCare Health Plans presently has an average rating of “Hold” and a consensus target price of $176.23.

WellCare Health Plans, Inc. (NYSE:WCG) opened at 168.355 on Monday. WellCare Health Plans, Inc. has a 12-month low of $113.34 and a 12-month high of $184.88. The company has a 50-day moving average price of $173.61 and a 200-day moving average price of $166.40. The stock has a market capitalization of $7.49 billion, a PE ratio of 29.577 and a beta of 0.88.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings data on Friday, August 4th. The company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.23 by $0.29. WellCare Health Plans had a return on equity of 14.91% and a net margin of 1.66%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same period last year, the company earned $2.23 earnings per share. WellCare Health Plans’s quarterly revenue was up 19.8% compared to the same quarter last year. Analysts expect that WellCare Health Plans, Inc. will post $6.98 earnings per share for the current fiscal 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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Institutional Ownership by Quarter for WellCare Health Plans (NYSE:WCG)

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