Perpetual Ltd Purchases Shares of 2,427 Molina Healthcare, Inc. (NYSE:MOH)

Perpetual Ltd acquired a new stake in Molina Healthcare, Inc. (NYSE:MOH) in the 4th quarter, Holdings Channel reports. The firm acquired 2,427 shares of the company’s stock, valued at approximately $706,000.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in Molina Healthcare by 0.5% in the third quarter. State Street Corp now owns 2,614,311 shares of the company’s stock valued at $900,787,000 after purchasing an additional 13,001 shares in the last quarter. AQR Capital Management LLC increased its position in Molina Healthcare by 36.2% in the 2nd quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock valued at $137,810,000 after buying an additional 123,121 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Molina Healthcare by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,078 shares of the company’s stock worth $134,405,000 after buying an additional 10,030 shares during the period. Swiss National Bank boosted its holdings in Molina Healthcare by 0.3% in the third quarter. Swiss National Bank now owns 173,900 shares of the company’s stock worth $59,919,000 after acquiring an additional 500 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Molina Healthcare by 1.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 146,335 shares of the company’s stock valued at $50,421,000 after acquiring an additional 1,778 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays increased their target price on Molina Healthcare from $359.00 to $372.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. Truist Financial dropped their price objective on shares of Molina Healthcare from $400.00 to $370.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Robert W. Baird decreased their target price on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $350.00 price objective (down from $378.00) on shares of Molina Healthcare in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $359.18.

Molina Healthcare Stock Up 1.7 %

Shares of NYSE:MOH opened at $302.63 on Thursday. Molina Healthcare, Inc. has a 1 year low of $272.69 and a 1 year high of $423.92. The company has a market capitalization of $17.31 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54. The business has a fifty day moving average price of $295.43 and a two-hundred day moving average price of $316.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.54 and a quick ratio of 1.55.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, beating the consensus estimate of $5.96 by $0.05. The company had revenue of $10.34 billion during the quarter, compared to analyst estimates of $9.92 billion. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.05 earnings per share. Analysts forecast that Molina Healthcare, Inc. will post 23.44 earnings per share for the current year.

Molina Healthcare Profile

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.