KCM Investment Advisors LLC purchased a new position in shares of Molina Healthcare Inc (NYSE:MOH) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,578 shares of the company’s stock, valued at approximately $386,000.
Other institutional investors have also recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its holdings in Molina Healthcare by 40.9% during the 2nd quarter. LS Investment Advisors LLC now owns 1,829 shares of the company’s stock worth $127,000 after purchasing an additional 531 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Molina Healthcare during the 2nd quarter worth approximately $136,000. Meadow Creek Investment Management LLC raised its holdings in Molina Healthcare by 13.2% during the 1st quarter. Meadow Creek Investment Management LLC now owns 2,408 shares of the company’s stock worth $110,000 after purchasing an additional 280 shares during the last quarter. Riverhead Capital Management LLC raised its holdings in Molina Healthcare by 64.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,463 shares of the company’s stock worth $170,000 after purchasing an additional 963 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its holdings in Molina Healthcare by 13.2% during the 1st quarter. Glen Harbor Capital Management LLC now owns 2,924 shares of the company’s stock worth $133,000 after purchasing an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 96.04% of the company’s stock.
Shares of Molina Healthcare Inc (NYSE:MOH) opened at 66.62 on Friday. The firm’s market cap is $3.81 billion. Molina Healthcare Inc has a 52-week low of $42.56 and a 52-week high of $72.79. The company has a 50-day moving average of $62.47 and a 200 day moving average of $60.18.
Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.87). The firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.88 billion. Molina Healthcare had a positive return on equity of 16.10% and a negative net margin of 1.07%. Molina Healthcare’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. On average, equities analysts expect that Molina Healthcare Inc will post ($2.96) earnings per share for the current year.
In other Molina Healthcare news, insider William Dentino sold 66,000 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $68.68, for a total value of $4,532,880.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Molina sold 15,208 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $65.79, for a total value of $1,000,534.32. Following the completion of the transaction, the director now owns 585,859 shares of the company’s stock, valued at approximately $38,543,663.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 314,323 shares of company stock valued at $20,373,701. 6.20% of the stock is owned by corporate insiders.
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MOH has been the subject of several analyst reports. Stifel Nicolaus lowered shares of Molina Healthcare from a “hold” rating to a “sell” rating and raised their price target for the stock from $47.00 to $60.00 in a report on Wednesday, May 31st. ValuEngine upgraded shares of Molina Healthcare from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Morgan Stanley initiated coverage on shares of Molina Healthcare in a report on Tuesday, June 6th. They set an “underweight” rating and a $65.00 price target for the company. Jefferies Group LLC restated a “hold” rating and set a $61.00 price target on shares of Molina Healthcare in a report on Thursday, June 8th. Finally, Zacks Investment Research lowered shares of Molina Healthcare from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $62.39.
About Molina Healthcare
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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