As Wellcare Health Plans INC (WCG) Stock Declined, Fort LP Has Trimmed Its Stake by $4.07 Million

April 21, 2018 - By Winifred Garcia

WellCare Health Plans, Inc. (NYSE:WCG) LogoInvestors sentiment decreased to 1.13 in Q4 2017. Its down 0.02, from 1.15 in 2017Q3. It dropped, as 16 investors sold WCG shares while 116 reduced holdings. 60 funds opened positions while 89 raised stakes. 42.30 million shares or 2.83% less from 43.53 million shares in 2017Q3 were reported. Glenmede Na holds 0.04% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG) for 42,416 shares. Advsr Asset Mngmt Incorporated invested in 10,524 shares. Manufacturers Life The, a Ontario – Canada-based fund reported 73,721 shares. Moreover, Sg Americas Securities Limited Liability has 0.02% invested in WellCare Health Plans, Inc. (NYSE:WCG). Grantham Mayo Van Otterloo Limited Liability holds 1,800 shares or 0% of its portfolio. Qs Ltd Liability Corp invested in 19,644 shares or 0.04% of the stock. Cap Fund Management Sa stated it has 0.14% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). Northern Trust owns 343,624 shares or 0.02% of their US portfolio. Moreover, Zacks Inv Mngmt has 0.11% invested in WellCare Health Plans, Inc. (NYSE:WCG) for 25,326 shares. Cubist Systematic Strategies Limited Liability Com invested 0.02% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). Riverhead Limited Liability has invested 0.32% of its portfolio in WellCare Health Plans, Inc. (NYSE:WCG). M&T Bancorporation holds 1,993 shares. Oregon Pub Employees Retirement Fund holds 0.05% or 16,403 shares. United Svcs Automobile Association holds 0.03% or 54,948 shares in its portfolio. Millennium Mngmt Limited Liability Company invested in 396,329 shares.

Michael Novogratz decreased its stake in Wellcare Health Plans Inc (WCG) by 11.55% based on its latest 2017Q4 regulatory filing with the SEC. Fort Lp sold 20,273 shares as the company’s stock declined 4.59% with the market. The hedge fund run by Michael Novogratz held 155,285 shares of the health care company at the end of 2017Q4, valued at $31.23M, down from 175,558 at the end of the previous reported quarter. Fort Lp who had been investing in Wellcare Health Plans Inc for a number of months, seems to be less bullish one the $8.96B market cap company. The stock decreased 0.73% or $1.47 during the last trading session, reaching $200.24. About 361,409 shares traded or 3.59% up from the average. WellCare Health Plans, Inc. (NYSE:WCG) has risen 36.99% since April 21, 2017 and is uptrending. It has outperformed by 25.44% the S&P500.

Fort Lp, which manages about $349.60 million and $425.22M US Long portfolio, upped its stake in Usana Health Sciences Inc (NYSE:USNA) by 51,474 shares to 52,189 shares, valued at $3.87 million in 2017Q4, according to the filing. It also increased its holding in Groupe Cgi Inc (NYSE:GIB) by 65,375 shares in the quarter, for a total of 463,439 shares, and has risen its stake in Omnicom Group Inc (NYSE:OMC).

Analysts await WellCare Health Plans, Inc. (NYSE:WCG) to report earnings on May, 1 before the open. They expect $1.98 EPS, up 22.98 % or $0.37 from last year’s $1.61 per share. WCG’s profit will be $88.58M for 25.28 P/E if the $1.98 EPS becomes a reality. After $0.32 actual EPS reported by WellCare Health Plans, Inc. for the previous quarter, Wall Street now forecasts 518.75 % EPS growth.

WellCare Health Plans, Inc. (NYSE:WCG) Ratings Coverage

Among 9 analysts covering WellCare Health Plans (NYSE:WCG), 7 have Buy rating, 0 Sell and 2 Hold. Therefore 78% are positive. WellCare Health Plans had 17 analyst reports since October 31, 2017 according to SRatingsIntel. Wells Fargo upgraded the stock to “Outperform” rating in Wednesday, March 21 report. The firm has “Hold” rating given on Wednesday, February 7 by Jefferies. As per Monday, December 18, the company rating was maintained by Cantor Fitzgerald. Jefferies maintained it with “Hold” rating and $210 target in Wednesday, November 1 report. The rating was maintained by Cowen & Co with “Buy” on Tuesday, January 23. Wells Fargo maintained the shares of WCG in report on Wednesday, November 1 with “Hold” rating. The rating was upgraded by Bank of America to “Buy” on Friday, March 16. The stock of WellCare Health Plans, Inc. (NYSE:WCG) earned “Hold” rating by Jefferies on Friday, January 12. The company was maintained on Friday, November 17 by Bank of America. As per Wednesday, February 7, the company rating was maintained by Morgan Stanley.

WellCare Health Plans, Inc. (NYSE:WCG) Institutional Positions Chart

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