Meeder Asset Management Inc. Increases Position in Molina Healthcare, Inc. (NYSE:MOH)

Meeder Asset Management Inc. grew its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 1,543.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 608 shares of the company’s stock after purchasing an additional 571 shares during the quarter. Meeder Asset Management Inc.’s holdings in Molina Healthcare were worth $181,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MOH. Principal Securities Inc. purchased a new stake in shares of Molina Healthcare during the 4th quarter valued at $42,000. Innealta Capital LLC purchased a new stake in shares of Molina Healthcare during the second quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC purchased a new position in Molina Healthcare during the second quarter worth approximately $40,000. AM Squared Ltd purchased a new stake in shares of Molina Healthcare during the 2nd quarter valued at approximately $59,000. Finally, Mather Group LLC. purchased a new stake in Molina Healthcare in the first quarter valued at approximately $123,000. 98.50% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. TD Cowen reduced their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Stephens reissued an “equal weight” rating and set a $320.00 price objective on shares of Molina Healthcare in a research note on Thursday, July 25th. Robert W. Baird began coverage on Molina Healthcare in a research note on Thursday, May 30th. They issued an “outperform” rating and a $405.00 target price for the company. Finally, Jefferies Financial Group cut their target price on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. 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 issued 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 an average price target of $378.00.

Molina Healthcare Stock Up 1.5 %

NYSE MOH opened at $358.20 on Friday. 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 capitalization of $20.99 billion, a P/E ratio of 19.44, a PEG ratio of 1.20 and a beta of 0.57. Molina Healthcare, Inc. has a 12 month low of $282.96 and a 12 month high of $423.92. The company’s 50 day simple moving average is $327.90 and its 200 day simple moving average is $345.13.

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

Insider Buying and Selling

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

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.