Wedge Capital Management L L P NC Grows Stock Position in Molina Healthcare, Inc. (NYSE:MOH)

Wedge Capital Management L L P NC increased its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 9.9% in the 1st quarter, Holdings Channel reports. The firm owned 107,165 shares of the company’s stock after purchasing an additional 9,660 shares during the period. Wedge Capital Management L L P NC’s holdings in Molina Healthcare were worth $35,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MOH. Washington Capital Management Inc. lifted its stake in shares of Molina Healthcare by 60.9% in the first quarter. Washington Capital Management Inc. now owns 1,850 shares of the company’s stock worth $609,000 after buying an additional 700 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Molina Healthcare during the first quarter worth approximately $240,000. Curat Global LLC purchased a new position in Molina Healthcare during the first quarter worth approximately $209,000. Retireful LLC purchased a new stake in Molina Healthcare in the 1st quarter valued at $454,000. Finally, Merit Financial Group LLC increased its stake in shares of Molina Healthcare by 268.7% in the 1st quarter. Merit Financial Group LLC now owns 4,181 shares of the company’s stock worth $1,377,000 after acquiring an additional 3,047 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

MOH has been the topic of several analyst reports. Mizuho lifted their price target on Molina Healthcare from $376.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Truist Financial lifted their price target on shares of Molina Healthcare from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Wells Fargo & Company upgraded Molina Healthcare from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $295.00 to $372.00 in a report on Wednesday, March 5th. Sanford C. Bernstein started coverage on Molina Healthcare in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $414.00 target price for the company. Finally, Wall Street Zen raised Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Molina Healthcare has a consensus rating of “Hold” and a consensus price target of $364.54.

Insider Buying and Selling at Molina Healthcare

In related news, CEO Joseph M. Zubretsky sold 87,500 shares of the business’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $320.06, for a total transaction of $28,005,250.00. Following the completion of the transaction, the chief executive officer now owns 257,715 shares in the company, valued at approximately $82,484,262.90. The trade was a 25.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard M. Schapiro sold 669 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $320.50, for a total value of $214,414.50. Following the completion of the sale, the director now owns 11,244 shares in the company, valued at approximately $3,603,702. This represents a 5.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Molina Healthcare Stock Up 0.9%

Shares of MOH opened at $296.16 on Friday. The company’s 50-day simple moving average is $320.53 and its 200-day simple moving average is $307.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.62 and a current ratio of 1.62. Molina Healthcare, Inc. has a 1 year low of $262.32 and a 1 year high of $365.23. The stock has a market capitalization of $16.05 billion, a PE ratio of 14.50, a P/E/G ratio of 1.06 and a beta of 0.56.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 EPS for the quarter, beating the consensus estimate of $5.96 by $0.12. The company had revenue of $11.15 billion during the quarter, compared to analysts’ expectations of $10.86 billion. Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the company posted $5.73 EPS. Analysts forecast that Molina Healthcare, Inc. will post 24.4 earnings per share for the current fiscal year.

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.