New York State Teachers Retirement System lessened its stake in shares of Molina Healthcare, Inc (NYSE:MOH – Free Report) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 43,729 shares of the company’s stock after selling 395 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Molina Healthcare worth $13,027,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Zions Bancorporation National Association UT bought a new position in Molina Healthcare in the 1st quarter worth about $29,000. Deseret Mutual Benefit Administrators increased its holdings in Molina Healthcare by 60.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 90 shares of the company’s stock valued at $30,000 after buying an additional 34 shares during the period. Elequin Capital LP increased its holdings in Molina Healthcare by 170.6% during the first quarter. Elequin Capital LP now owns 92 shares of the company’s stock valued at $30,000 after buying an additional 58 shares during the period. Silver Oak Securities Incorporated purchased a new position in Molina Healthcare in the first quarter worth $34,000. Finally, Allworth Financial LP grew its holdings in Molina Healthcare by 52.0% in the first quarter. Allworth Financial LP now owns 228 shares of the company’s stock worth $72,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on MOH. JPMorgan Chase & Co. dropped their price objective on shares of Molina Healthcare from $272.00 to $184.00 and set a “neutral” rating on the stock in a report on Tuesday, July 29th. Wall Street Zen lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating in a report on Sunday, June 29th. Morgan Stanley boosted their price objective on shares of Molina Healthcare from $163.00 to $204.00 and gave the company an “equal weight” rating in a report on Tuesday. Sanford C. Bernstein dropped their price objective on shares of Molina Healthcare from $284.00 to $220.00 and set an “outperform” rating on the stock in a report on Friday, September 5th. Finally, Truist Financial set a $210.00 price objective on shares of Molina Healthcare in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Molina Healthcare currently has a consensus rating of “Hold” and an average price target of $222.15.
Molina Healthcare Trading Up 2.1%
NYSE MOH opened at $192.47 on Friday. The company has a market capitalization of $10.43 billion, a PE ratio of 9.49 and a beta of 0.55. The company has a fifty day moving average of $181.93 and a 200 day moving average of $244.17. Molina Healthcare, Inc has a 1 year low of $151.95 and a 1 year high of $359.97. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.66.
Molina Healthcare (NYSE:MOH – Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $5.48 earnings per share for the quarter, missing analysts’ consensus estimates of $5.50 by ($0.02). The firm had revenue of $11.43 billion during the quarter, compared to analyst estimates of $10.94 billion. Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%.The company’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the company posted $5.86 EPS. Research analysts forecast that Molina Healthcare, Inc will post 24.4 earnings per share for the current year.
Insider Activity
In related news, COO James Woys purchased 10,000 shares of Molina Healthcare stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $155.94 per share, for a total transaction of $1,559,400.00. Following the transaction, the chief operating officer directly owned 74,331 shares in the company, valued at approximately $11,591,176.14. This trade represents a 15.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronna Romney sold 700 shares of the company’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total transaction of $107,618.00. Following the transaction, the director owned 17,131 shares of the company’s stock, valued at approximately $2,633,719.94. This trade represents a 3.93% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Molina Healthcare Company 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.
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