WellCare Health Plans, Inc. (WCG) Holdings Raised by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in WellCare Health Plans, Inc. (NYSE:WCG) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,335 shares of the company’s stock after purchasing an additional 69 shares during the period. CIBC Asset Management Inc’s holdings in WellCare Health Plans were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in WCG. Vanguard Group Inc grew its position in shares of WellCare Health Plans by 26.1% in the 3rd quarter. Vanguard Group Inc now owns 5,602,927 shares of the company’s stock valued at $1,795,681,000 after buying an additional 1,159,497 shares during the last quarter. Vanguard Group Inc. grew its position in shares of WellCare Health Plans by 26.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,602,927 shares of the company’s stock valued at $1,795,681,000 after buying an additional 1,159,497 shares during the last quarter. FMR LLC grew its position in shares of WellCare Health Plans by 267.8% in the 3rd quarter. FMR LLC now owns 1,318,399 shares of the company’s stock valued at $422,534,000 after buying an additional 959,928 shares during the last quarter. Marshall Wace LLP grew its position in shares of WellCare Health Plans by 287.7% in the 3rd quarter. Marshall Wace LLP now owns 377,862 shares of the company’s stock valued at $121,101,000 after buying an additional 280,406 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of WellCare Health Plans by 530.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 233,780 shares of the company’s stock valued at $74,923,000 after buying an additional 196,687 shares during the last quarter. 98.49% of the stock is currently owned by institutional investors.

WCG has been the topic of a number of recent analyst reports. Stephens initiated coverage on shares of WellCare Health Plans in a research report on Monday, January 14th. They issued an “overweight” rating and a $276.00 target price on the stock. Zacks Investment Research reaffirmed a “buy” rating and issued a $251.00 target price on shares of WellCare Health Plans in a research report on Monday, December 31st. ValuEngine upgraded shares of WellCare Health Plans from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. Cowen assumed coverage on shares of WellCare Health Plans in a research note on Thursday, February 28th. They set an “outperform” rating for the company. Finally, Wolfe Research upgraded shares of WellCare Health Plans from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 3rd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $306.43.

Shares of NYSE:WCG opened at $241.41 on Friday. The firm has a market cap of $11.91 billion, a P/E ratio of 21.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. WellCare Health Plans, Inc. has a 1-year low of $188.32 and a 1-year high of $324.99.

WellCare Health Plans (NYSE:WCG) last issued its quarterly earnings results on Tuesday, February 5th. The company reported $1.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.55 by $0.08. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.85 billion. WellCare Health Plans had a net margin of 2.15% and a return on equity of 15.39%. WellCare Health Plans’s quarterly revenue was up 37.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.32 EPS. As a group, research analysts expect that WellCare Health Plans, Inc. will post 13.59 earnings per share for the current fiscal year.

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About WellCare Health Plans

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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