Molina Healthcare, Inc $MOH Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in Molina Healthcare, Inc (NYSE:MOH) by 65.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,250 shares of the company’s stock after selling 42,387 shares during the period. Renaissance Technologies LLC’s holdings in Molina Healthcare were worth $2,966,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MOH. Baird Financial Group Inc. acquired a new stake in Molina Healthcare in the first quarter worth approximately $210,000. NewEdge Advisors LLC increased its position in shares of Molina Healthcare by 33.4% during the 1st quarter. NewEdge Advisors LLC now owns 1,106 shares of the company’s stock valued at $364,000 after purchasing an additional 277 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Molina Healthcare by 713.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,651 shares of the company’s stock worth $544,000 after buying an additional 1,448 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Molina Healthcare by 19.4% in the first quarter. Goldman Sachs Group Inc. now owns 249,466 shares of the company’s stock valued at $82,172,000 after buying an additional 40,531 shares during the period. Finally, Woodline Partners LP acquired a new stake in shares of Molina Healthcare in the first quarter valued at $1,541,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Molina Healthcare Trading Up 2.5%

NYSE:MOH opened at $196.65 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.95. Molina Healthcare, Inc has a 1-year low of $121.06 and a 1-year high of $244.89. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of -1,092.43, a price-to-earnings-growth ratio of 28.14 and a beta of 0.75. The stock has a fifty day simple moving average of $209.25 and a 200 day simple moving average of $177.81.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.12. Molina Healthcare had a positive return on equity of 3.73% and a negative net margin of 0.02%.The firm had revenue of $10.87 billion for the quarter, compared to the consensus estimate of $10.83 billion. During the same quarter in the previous year, the company earned $5.48 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. Sell-side analysts forecast that Molina Healthcare, Inc will post 5.29 earnings per share for the current year.

Insider Activity at Molina Healthcare

In related news, insider Jeff D. Barlow sold 17,811 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $186.12, for a total transaction of $3,314,983.32. Following the transaction, the insider directly owned 67,175 shares of the company’s stock, valued at approximately $12,502,611. The trade was a 20.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maurice Hebert sold 600 shares of Molina Healthcare stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $191.55, for a total transaction of $114,930.00. Following the sale, the chief accounting officer directly owned 12,815 shares of the company’s stock, valued at $2,454,713.25. This trade represents a 4.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MOH. Zacks Research raised Molina Healthcare from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $129.00 price objective on shares of Molina Healthcare in a research report on Friday, April 24th. TD Cowen boosted their target price on shares of Molina Healthcare from $163.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Barclays cut their target price on shares of Molina Healthcare from $184.00 to $180.00 and set an “underweight” rating for the company in a research note on Friday, July 24th. Finally, UBS Group lifted their price target on shares of Molina Healthcare from $180.00 to $202.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $202.44.

About Molina Healthcare

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.