Creative Planning reduced its holdings in shares of WellCare Health Plans, Inc. (NYSE:WCG) by 80.0% during the fourth quarter, Holdings Channel reports. The fund owned 624 shares of the company’s stock after selling 2,497 shares during the period. Creative Planning’s holdings in WellCare Health Plans were worth $206,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of WCG. Millennium Management LLC grew its position in WellCare Health Plans by 401.8% during the third quarter. Millennium Management LLC now owns 365,222 shares of the company’s stock valued at $94,654,000 after acquiring an additional 292,437 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of WellCare Health Plans by 129.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 501,958 shares of the company’s stock worth $165,752,000 after purchasing an additional 282,854 shares during the last quarter. Maverick Capital Ltd. bought a new position in shares of WellCare Health Plans in the third quarter worth approximately $34,992,000. ARP Americas LP grew its holdings in shares of WellCare Health Plans by 53.7% in the third quarter. ARP Americas LP now owns 254,078 shares of the company’s stock worth $65,849,000 after purchasing an additional 88,769 shares during the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of WellCare Health Plans by 441.2% in the third quarter. Squarepoint Ops LLC now owns 74,297 shares of the company’s stock worth $19,256,000 after purchasing an additional 60,570 shares during the last quarter. Institutional investors and hedge funds own 88.61% of the company’s stock.
Several research analysts have recently issued reports on WCG shares. Piper Sandler cut shares of WellCare Health Plans from an “overweight” rating to a “neutral” rating and set a target price on the stock. in a report on Friday, January 10th. Wells Fargo & Co cut shares of WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $342.00 target price on the stock. in a report on Wednesday, December 11th. Finally, ValuEngine cut shares of WellCare Health Plans from a “hold” rating to a “sell” rating in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $324.00.
Shares of WellCare Health Plans stock opened at $349.92 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.16 and a current ratio of 1.16. WellCare Health Plans, Inc. has a 52-week low of $228.56 and a 52-week high of $350.17. The stock has a market capitalization of $17.61 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.38 and a beta of 0.93. The company’s 50 day moving average price is $341.11 and its 200-day moving average price is $301.15.
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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