Edmond De Rothschild (italia) Sgr Spa Lowers stake in WellCare Health Plans (WCG)

WellCare Health Plans (WCG) : Edmond De Rothschild (italia) Sgr Spa reduced its stake in WellCare Health Plans by 5.39% during the most recent quarter end. The investment management company now holds a total of 76,738 shares of WellCare Health Plans which is valued at $7.1 Million after selling 4,369 shares in WellCare Health Plans , the firm said in a disclosure report filed with the SEC on May 12, 2016.WellCare Health Plans makes up approximately 10.46% of Edmond De Rothschild (italia) Sgr Spa’s portfolio.

Other Hedge Funds, Including , Spark Investment Management added WCG to its portfolio by purchasing 10,900 company shares during the most recent quarter which is valued at $1 Million. WellCare Health Plans makes up approx 0.10% of Spark Investment Management’s portfolio.Amalgamated Bank boosted its stake in WCG in the latest quarter, The investment management firm added 409 additional shares and now holds a total of 4,841 shares of WellCare Health Plans which is valued at $450,891. WellCare Health Plans makes up approx 0.04% of Amalgamated Bank’s portfolio.Td Asset Management Inc reduced its stake in WCG by selling 1,300 shares or 1.84% in the most recent quarter. The Hedge Fund company now holds 69,200 shares of WCG which is valued at $6.5 Million. WellCare Health Plans makes up approx 0.01% of Td Asset Management Inc’s portfolio. Capital Fund Management S.a. added WCG to its portfolio by purchasing 19,528 company shares during the most recent quarter which is valued at $1.8 Million. WellCare Health Plans makes up approx 0.03% of Capital Fund Management S.a.’s portfolio.

WellCare Health Plans opened for trading at $95.14 and hit $95.61 on the upside on Friday, eventually ending the session at $95.5, with a gain of 1.05% or 0.99 points. The heightened volatility saw the trading volume jump to 2,86,443 shares. Company has a market cap of $4,226 M.

On the company’s financial health, WellCare Health Plans reported $1.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.36 according to the earnings call on May 3, 2016. Analyst had a consensus of $0.70. The company had revenue of $3540.50 million for the quarter, compared to analysts expectations of $3484.72 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.

Many Wall Street Analysts have commented on WellCare Health Plans. Company shares were Upgraded by JP Morgan on Feb 22, 2016 to ” Overweight”, Firm has raised the Price Target to $ 114 from a previous price target of $80 .WellCare Health Plans was Upgraded by BofA/Merrill to ” Neutral” on Feb 22, 2016.

WellCare Health Plans Inc. (WellCare) is a managed care company for government-sponsored health care coverage with a focus on Medicaid and Medicare programs. The Company offers a range of managed care health plans for families children and the aged blind and disabled as well as prescription drug plans. The Company operates in three segments: Medicaid Health Plans Medicare Health Plans and Medicare Prescription Drug Plans (PDPs). It operates Medicaid health plans in Florida Georgia Hawaii Illinois Kentucky Missouri New Jersey New York and South Carolina. In addition it offers Medicare Advantage (MA) coordinated care plans (CCPs) in certain counties in Arizona Arkansas California Connecticut Florida Georgia Hawaii Illinois Kentucky Louisiana Mississippi Missouri New Jersey New York Ohio South Carolina Tennessee and Texas. It also offers stand-alone Medicare PDPs in 49 states and the District of Columbia.

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