Molina Healthcare, Inc. (NYSE:MOH) Shares Bought by Covestor Ltd

Covestor Ltd increased its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 38.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 428 shares of the company’s stock after acquiring an additional 118 shares during the quarter. Covestor Ltd’s holdings in Molina Healthcare were worth $177,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MOH. Vanguard Group Inc. lifted its stake in shares of Molina Healthcare by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 6,585,954 shares of the company’s stock valued at $2,379,571,000 after purchasing an additional 23,715 shares during the last quarter. Capital World Investors raised its stake in shares of Molina Healthcare by 0.3% in the 4th quarter. Capital World Investors now owns 5,490,147 shares of the company’s stock valued at $1,983,645,000 after acquiring an additional 14,775 shares during the period. Wellington Management Group LLP raised its stake in shares of Molina Healthcare by 12.8% in the 4th quarter. Wellington Management Group LLP now owns 3,831,100 shares of the company’s stock valued at $1,384,215,000 after acquiring an additional 436,060 shares during the period. Capital Research Global Investors boosted its position in shares of Molina Healthcare by 5.4% during the 4th quarter. Capital Research Global Investors now owns 2,430,283 shares of the company’s stock worth $878,086,000 after purchasing an additional 123,894 shares during the period. Finally, Norges Bank purchased a new stake in Molina Healthcare in the fourth quarter valued at approximately $275,143,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Transactions at Molina Healthcare

In related news, COO James Woys sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the sale, the chief operating officer now owns 53,613 shares of the company’s stock, valued at $18,504,526.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Ronna Romney sold 250 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total value of $85,817.50. Following the sale, the director now directly owns 16,945 shares of the company’s stock, valued at approximately $5,816,710.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO James Woys sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the completion of the sale, the chief operating officer now directly owns 53,613 shares in the company, valued at approximately $18,504,526.95. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MOH. TD Cowen decreased their target price on Molina Healthcare from $453.00 to $412.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Bank of America cut shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price objective for the company. in a report on Thursday, March 28th. Robert W. Baird assumed coverage on shares of Molina Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $405.00 price target for the company. JPMorgan Chase & Co. cut their price objective on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Truist Financial decreased their target price on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Molina Healthcare has a consensus rating of “Moderate Buy” and an average price target of $397.20.

Molina Healthcare Stock Performance

NYSE MOH traded down $2.11 during trading hours on Tuesday, hitting $287.49. 287,350 shares of the stock were exchanged, compared to its average volume of 454,098. Molina Healthcare, Inc. has a 12-month low of $282.96 and a 12-month high of $423.92. The stock has a 50-day moving average of $310.01 and a 200 day moving average of $354.96. The company has a market cap of $16.85 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 0.88 and a beta of 0.58. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.53.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $5.73 EPS for the quarter, beating the consensus estimate of $5.46 by $0.27. The business had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.45 billion. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $5.81 EPS. As a group, equities research analysts forecast that Molina Healthcare, Inc. will post 23.56 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.