Orbimed Advisors buys $220,611,503 stake in WellCare Health Plans (WCG)

WellCare Health Plans (WCG) : Orbimed Advisors scooped up 557,100 additional shares in WellCare Health Plans during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,903,300 shares of WellCare Health Plans which is valued at $220,611,503.WellCare Health Plans makes up approximately 2.09% of Orbimed Advisors’s portfolio.

Other Hedge Funds, Including , Summit Street Capital Management reduced its stake in WCG by selling 5,878 shares or 18.79% in the most recent quarter. The Hedge Fund company now holds 25,410 shares of WCG which is valued at $2,945,273. WellCare Health Plans makes up approx 3.08% of Summit Street Capital Management’s portfolio. Bayesian Capital Management Lp added WCG to its portfolio by purchasing 2,361 company shares during the most recent quarter which is valued at $273,664. WellCare Health Plans makes up approx 0.15% of Bayesian Capital Management Lp’s portfolio.Riverhead Capital Management reduced its stake in WCG by selling 6,523 shares or 72.49% in the most recent quarter. The Hedge Fund company now holds 2,475 shares of WCG which is valued at $286,877.Cipher Capital Lp boosted its stake in WCG in the latest quarter, The investment management firm added 7,681 additional shares and now holds a total of 10,098 shares of WellCare Health Plans which is valued at $1,170,459. WellCare Health Plans makes up approx 0.08% of Cipher Capital Lp’s portfolio. Lmr Partners Llp added WCG to its portfolio by purchasing 29,735 company shares during the most recent quarter which is valued at $3,175,698. WellCare Health Plans makes up approx 0.48% of Lmr Partners Llp’s portfolio.

WellCare Health Plans opened for trading at $112.81 and hit $115.04 on the upside on Wednesday, eventually ending the session at $114.49, with a gain of 1.34% or 1.51 points. The heightened volatility saw the trading volume jump to 364,540 shares. Company has a market cap of $5,068 M.

On the company’s financial health, WellCare Health Plans reported $2.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.83 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $1.40. The company had revenue of $3594.40 million for the quarter, compared to analysts expectations of $3513.06 million. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.34 EPS.

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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