Bellecapital International Ltd. Purchases New Holdings in WellCare Health Plans, Inc. (NYSE:WCG)

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Bellecapital International Ltd. purchased a new position in shares of WellCare Health Plans, Inc. (NYSE:WCG) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 835 shares of the company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JGP Global Gestao de Recursos Ltda. bought a new stake in shares of WellCare Health Plans in the second quarter worth $267,000. Eqis Capital Management Inc. purchased a new position in WellCare Health Plans during the second quarter valued at $357,000. Clear Street Markets LLC purchased a new position in WellCare Health Plans during the second quarter valued at $4,573,000. Gradient Investments LLC lifted its position in WellCare Health Plans by 176.6% during the second quarter. Gradient Investments LLC now owns 8,467 shares of the company’s stock valued at $2,414,000 after purchasing an additional 5,406 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in WellCare Health Plans by 21.3% during the second quarter. IFM Investors Pty Ltd now owns 3,632 shares of the company’s stock valued at $1,035,000 after purchasing an additional 638 shares in the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.

WCG opened at $272.61 on Friday. The stock has a market cap of $13.77 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 1.35 and a beta of 0.93. The stock’s 50 day moving average price is $284.13 and its 200-day moving average price is $273.09. WellCare Health Plans, Inc. has a one year low of $220.63 and a one year high of $324.99. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.23 and a current ratio of 1.23.

WellCare Health Plans (NYSE:WCG) last released its earnings results on Tuesday, July 30th. The company reported $4.31 EPS for the quarter, beating analysts’ consensus estimates of $4.16 by $0.15. The firm had revenue of $7.01 billion for the quarter, compared to analysts’ expectations of $6.63 billion. WellCare Health Plans had a return on equity of 14.95% and a net margin of 2.09%. The company’s quarterly revenue was up 51.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.69 earnings per share. As a group, analysts predict that WellCare Health Plans, Inc. will post 13.91 earnings per share for the current fiscal year.

Several research firms recently weighed in on WCG. Zacks Investment Research downgraded WellCare Health Plans from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. BMO Capital Markets downgraded WellCare Health Plans from an “outperform” rating to a “market perform” rating and set a $304.00 price objective on the stock. in a research report on Monday, June 3rd. Cantor Fitzgerald downgraded WellCare Health Plans from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Co decreased their target price on WellCare Health Plans from $330.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. WellCare Health Plans presently has an average rating of “Buy” and an average target price of $320.10.

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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