Summit Global Investments Sells 3,189 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Summit Global Investments trimmed its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 10.7% during the second quarter, Holdings Channel.com reports. The fund owned 26,688 shares of the company’s stock after selling 3,189 shares during the quarter. Summit Global Investments’ holdings in Molina Healthcare were worth $7,934,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Molina Healthcare by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 6,585,954 shares of the company’s stock worth $2,379,571,000 after purchasing an additional 23,715 shares during the period. Capital World Investors grew its position in Molina Healthcare by 0.3% during the fourth quarter. Capital World Investors now owns 5,490,147 shares of the company’s stock worth $1,983,645,000 after buying an additional 14,775 shares in the last quarter. Wellington Management Group LLP increased its stake in Molina Healthcare by 12.8% during the 4th quarter. Wellington Management Group LLP now owns 3,831,100 shares of the company’s stock worth $1,384,215,000 after acquiring an additional 436,060 shares during the period. Capital Research Global Investors raised its holdings in Molina Healthcare by 5.4% in the 4th quarter. Capital Research Global Investors now owns 2,430,283 shares of the company’s stock valued at $878,086,000 after acquiring an additional 123,894 shares in the last quarter. Finally, Capital International Investors lifted its position in shares of Molina Healthcare by 0.9% during the 1st quarter. Capital International Investors now owns 1,665,801 shares of the company’s stock valued at $684,361,000 after acquiring an additional 15,264 shares during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity

In related news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the sale, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at $3,282,583.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO James Woys sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total value of $3,451,500.00. Following the transaction, the chief operating officer now owns 53,613 shares in the company, valued at $18,504,526.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the transaction, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at $3,282,583.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,393 shares of company stock valued at $3,926,892. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MOH. JPMorgan Chase & Co. cut their price objective on shares of Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Jefferies Financial Group reduced their price target on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. TD Cowen lowered their price objective on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating and set a $406.00 target price on shares of Molina Healthcare in a research note on Monday. Finally, Stephens reiterated an “equal weight” rating and issued a $320.00 price target on shares of Molina Healthcare in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Molina Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.00.

Molina Healthcare Trading Up 0.7 %

Molina Healthcare stock traded up $2.32 during trading hours on Tuesday, hitting $348.50. The stock had a trading volume of 380,662 shares, compared to its average volume of 496,131. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.20 and a beta of 0.58. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $313.44 and its 200-day simple moving average is $350.07. Molina Healthcare, Inc. has a one year low of $282.96 and a one year high of $423.92.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The business had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.75 billion. During the same quarter last year, the business earned $5.65 EPS. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. On average, equities analysts predict that Molina Healthcare, Inc. will post 23.5 EPS for the current fiscal year.

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.