Ritholtz Wealth Management Trims Stock Position in Molina Healthcare, Inc $MOH

Ritholtz Wealth Management cut its position in shares of Molina Healthcare, Inc (NYSE:MOH) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,219 shares of the company’s stock after selling 80 shares during the period. Ritholtz Wealth Management’s holdings in Molina Healthcare were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Molina Healthcare by 46.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,838,043 shares of the company’s stock worth $1,264,214,000 after purchasing an additional 1,216,903 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Molina Healthcare by 8.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,487,896 shares of the company’s stock valued at $490,099,000 after acquiring an additional 117,796 shares during the period. AQR Capital Management LLC raised its stake in shares of Molina Healthcare by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 884,958 shares of the company’s stock valued at $288,125,000 after acquiring an additional 264,664 shares during the period. Durable Capital Partners LP raised its stake in shares of Molina Healthcare by 13.1% in the 1st quarter. Durable Capital Partners LP now owns 541,605 shares of the company’s stock valued at $178,399,000 after acquiring an additional 62,899 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Molina Healthcare by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,672 shares of the company’s stock valued at $153,388,000 after acquiring an additional 7,021 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Molina Healthcare

In other news, COO James Woys acquired 10,000 shares of the company’s stock in a transaction on Monday, August 4th. The shares were bought at an average cost of $155.94 per share, with a total value of $1,559,400.00. Following the transaction, the chief operating officer owned 74,331 shares in the company, valued at approximately $11,591,176.14. This trade represents a 15.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronna Romney sold 700 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $153.74, for a total transaction of $107,618.00. Following the completion of the sale, the director directly owned 17,131 shares in the company, valued at approximately $2,633,719.94. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by corporate insiders.

Molina Healthcare Price Performance

Shares of MOH opened at $197.52 on Tuesday. Molina Healthcare, Inc has a fifty-two week low of $151.95 and a fifty-two week high of $359.97. The firm’s 50 day moving average price is $182.80 and its 200 day moving average price is $242.36. The company has a market cap of $10.71 billion, a P/E ratio of 9.73 and a beta of 0.55. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.77.

Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share for the quarter, missing the consensus estimate of $5.50 by ($0.02). Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%.The business had revenue of $11.43 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the company earned $5.86 earnings per share. Molina Healthcare’s quarterly revenue was up 15.7% on a year-over-year basis. On average, research analysts forecast that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MOH. Truist Financial set a $210.00 price target on shares of Molina Healthcare in a research note on Tuesday, October 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of Molina Healthcare in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of Molina Healthcare from $272.00 to $184.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 29th. Barclays reduced their price target on shares of Molina Healthcare from $186.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 4th. Finally, Wall Street Zen downgraded shares of Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Sunday, June 29th. Three research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Molina Healthcare presently has an average rating of “Hold” and an average target price of $222.15.

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.