EFG Asset Management North America Corp. Acquires 959 Shares of Molina Healthcare, Inc. (NYSE:MOH)

EFG Asset Management North America Corp. lifted its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 17.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,401 shares of the company’s stock after acquiring an additional 959 shares during the period. EFG Asset Management North America Corp.’s holdings in Molina Healthcare were worth $1,902,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MOH. McIlrath & Eck LLC bought a new stake in Molina Healthcare in the fourth quarter worth $34,000. Principal Securities Inc. purchased a new position in shares of Molina Healthcare in the fourth quarter worth $42,000. Access Investment Management LLC purchased a new position in shares of Molina Healthcare in the fourth quarter worth $99,000. GAMMA Investing LLC purchased a new position in shares of Molina Healthcare in the fourth quarter worth $106,000. Finally, Mather Group LLC. purchased a new position in shares of Molina Healthcare in the first quarter worth $123,000. 98.50% of the stock is currently owned by institutional investors.

Molina Healthcare Stock Up 0.9 %

NYSE MOH traded up $3.22 during midday trading on Monday, hitting $349.04. 142,008 shares of the company traded hands, compared to its average volume of 490,833. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $20.45 billion, a PE ratio of 18.76, a price-to-earnings-growth ratio of 1.20 and a beta of 0.58. Molina Healthcare, Inc. has a 52 week low of $282.96 and a 52 week high of $423.92. The company’s 50-day simple moving average is $316.50 and its 200-day simple moving average is $349.79.

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

Insider Transactions at Molina Healthcare

In other news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the sale, the director now owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Molina Healthcare news, 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 transaction of $136,182.36. Following the completion of the transaction, the chief accounting officer now owns 9,473 shares in the company, valued at approximately $3,282,583.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the transaction, the director now owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

MOH has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price target on Molina Healthcare from $315.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. TD Cowen reduced their price target on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Stephens reaffirmed an “equal weight” rating and issued a $320.00 price objective on shares of Molina Healthcare in a research note on Thursday, July 25th. Jefferies Financial Group dropped their price target on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research note on Monday, July 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $378.00.

About Molina Healthcare

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.