Moran Wealth Management LLC Decreases Stock Holdings in Molina Healthcare, Inc (NYSE:MOH)

Moran Wealth Management LLC reduced its stake in shares of Molina Healthcare, Inc (NYSE:MOH) by 0.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,360 shares of the company’s stock after selling 536 shares during the quarter. Moran Wealth Management LLC owned approximately 0.11% of Molina Healthcare worth $20,541,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Smartleaf Asset Management LLC increased its position in Molina Healthcare by 123.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 347 shares of the company’s stock valued at $100,000 after buying an additional 192 shares in the last quarter. Farther Finance Advisors LLC increased its position in Molina Healthcare by 100.3% during the 1st quarter. Farther Finance Advisors LLC now owns 659 shares of the company’s stock valued at $216,000 after buying an additional 330 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Molina Healthcare during the 4th quarter valued at about $10,725,000. US Bancorp DE increased its position in Molina Healthcare by 22.3% during the 4th quarter. US Bancorp DE now owns 1,993 shares of the company’s stock valued at $580,000 after buying an additional 364 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in Molina Healthcare during the 1st quarter valued at about $255,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, CEO Joseph M. Zubretsky sold 87,500 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total transaction of $28,005,250.00. Following the completion of the sale, the chief executive officer now owns 257,715 shares of the company’s stock, valued at $82,484,262.90. This trade represents a 25.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Schapiro sold 669 shares of Molina Healthcare stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $320.50, for a total value of $214,414.50. Following the completion of the sale, the director now directly owns 11,244 shares of the company’s stock, valued at $3,603,702. The trade was a 5.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Molina Healthcare Stock Performance

NYSE MOH opened at $291.15 on Tuesday. The company has a market cap of $15.78 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 0.99 and a beta of 0.57. The stock’s 50 day simple moving average is $310.27 and its 200-day simple moving average is $306.92. Molina Healthcare, Inc has a 1-year low of $262.32 and a 1-year high of $365.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, April 23rd. The company reported $6.08 earnings per share for the quarter, beating the consensus estimate of $5.96 by $0.12. Molina Healthcare had a return on equity of 28.38% and a net margin of 2.81%. The business had revenue of $11.15 billion for the quarter, compared to the consensus estimate of $10.86 billion. During the same quarter last year, the business posted $5.73 earnings per share. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Guggenheim assumed coverage on Molina Healthcare in a research report on Wednesday, April 9th. They set a “neutral” rating on the stock. Barclays cut their price objective on Molina Healthcare from $351.00 to $347.00 and set an “equal weight” rating on the stock in a report on Monday, June 9th. Wells Fargo & Company raised Molina Healthcare from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $295.00 to $372.00 in a report on Wednesday, March 5th. Truist Financial increased their price objective on Molina Healthcare from $340.00 to $400.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $375.00 price objective (up from $331.00) on shares of Molina Healthcare in a report on Tuesday, April 15th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $364.21.

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.