Columbus Circle Investors Lowers stake in WellCare Health Plans (WCG)

WellCare Health Plans (WCG) : Columbus Circle Investors reduced its stake in WellCare Health Plans by 20.55% during the most recent quarter end. The investment management company now holds a total of 673,861 shares of WellCare Health Plans which is valued at $74,973,775 after selling 174,268 shares in WellCare Health Plans , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.WellCare Health Plans makes up approximately 0.72% of Columbus Circle Investors’s portfolio.

Other Hedge Funds, Including , World Asset Management Inc boosted its stake in WCG in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 2,534 shares of WellCare Health Plans which is valued at $281,933. WellCare Health Plans makes up approx 0.01% of World Asset Management Inc’s portfolio.Lucus Advisors reduced its stake in WCG by selling 2,365 shares or 42.58% in the most recent quarter. The Hedge Fund company now holds 3,189 shares of WCG which is valued at $338,831. WellCare Health Plans makes up approx 0.26% of Lucus Advisors’s portfolio. Oakbrook Investments sold out all of its stake in WCG during the most recent quarter. The investment firm sold 3,100 shares of WCG which is valued $336,474.

WellCare Health Plans closed down -0.2 points or -0.18% at $113.13 with 5,18,437 shares getting traded on Monday. Post opening the session at $113.44, the shares hit an intraday low of $112.93 and an intraday high of $114.26 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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