Resona Asset Management Co. Ltd. Purchases 5,828 Shares of Molina Healthcare, Inc $MOH

Resona Asset Management Co. Ltd. grew its position in shares of Molina Healthcare, Inc (NYSE:MOH) by 31.5% during the second quarter, Holdings Channel reports. The fund owned 24,339 shares of the company’s stock after purchasing an additional 5,828 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Molina Healthcare were worth $7,248,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC bought a new position in Molina Healthcare in the first quarter worth $270,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Molina Healthcare in the 1st quarter worth about $291,000. Envestnet Asset Management Inc. increased its stake in shares of Molina Healthcare by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 15,945 shares of the company’s stock worth $5,252,000 after acquiring an additional 431 shares in the last quarter. M&T Bank Corp lifted its position in Molina Healthcare by 13.1% during the 1st quarter. M&T Bank Corp now owns 8,131 shares of the company’s stock valued at $2,677,000 after acquiring an additional 944 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Molina Healthcare by 5.3% during the first quarter. Nisa Investment Advisors LLC now owns 8,308 shares of the company’s stock worth $2,737,000 after acquiring an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Stock Performance

Shares of MOH stock opened at $151.85 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average price of $180.02 and a 200-day moving average price of $225.55. Molina Healthcare, Inc has a 52 week low of $145.03 and a 52 week high of $359.97. The firm has a market capitalization of $8.23 billion, a PE ratio of 9.40 and a beta of 0.55.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $3.97 by ($2.13). Molina Healthcare had a net margin of 1.98% and a return on equity of 22.95%. The company had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter last year, the company earned $6.01 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Molina Healthcare has set its FY 2025 guidance at 14.000-14.000 EPS. As a group, equities research analysts expect that Molina Healthcare, Inc will post 24.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Molina Healthcare from $207.00 to $167.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Molina Healthcare in a research note on Wednesday, October 8th. Robert W. Baird dropped their target price on Molina Healthcare from $373.00 to $179.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. Truist Financial set a $175.00 price target on Molina Healthcare in a report on Friday, October 24th. Finally, UBS Group cut their price target on shares of Molina Healthcare from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $203.64.

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.