Royal Bank of Canada Trims Stake in Molina Healthcare, Inc $MOH

Royal Bank of Canada reduced its stake in Molina Healthcare, Inc (NYSE:MOH) by 33.0% during the first quarter, Holdings Channel.com reports. The firm owned 53,197 shares of the company’s stock after selling 26,258 shares during the quarter. Royal Bank of Canada’s holdings in Molina Healthcare were worth $7,091,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of MOH. Baird Financial Group Inc. purchased a new stake in Molina Healthcare in the first quarter worth about $210,000. NewEdge Advisors LLC grew its stake in shares of Molina Healthcare by 33.4% during the 1st quarter. NewEdge Advisors LLC now owns 1,106 shares of the company’s stock valued at $364,000 after acquiring an additional 277 shares during the period. Jones Financial Companies Lllp increased its holdings in Molina Healthcare by 713.3% in the 1st quarter. Jones Financial Companies Lllp now owns 1,651 shares of the company’s stock worth $544,000 after acquiring an additional 1,448 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Molina Healthcare by 19.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,466 shares of the company’s stock worth $82,172,000 after acquiring an additional 40,531 shares during the period. Finally, Woodline Partners LP purchased a new position in Molina Healthcare during the first quarter valued at approximately $1,541,000. Institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In other Molina Healthcare news, CAO Maurice Hebert sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $191.55, for a total transaction of $114,930.00. Following the completion of the transaction, the chief accounting officer owned 12,815 shares in the company, valued at $2,454,713.25. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.44% of the company’s stock.

Molina Healthcare Stock Performance

MOH opened at $194.58 on Wednesday. The stock has a market capitalization of $10.16 billion, a price-to-earnings ratio of -1,080.94, a PEG ratio of 28.48 and a beta of 0.75. The company has a fifty day moving average of $209.87 and a 200 day moving average of $177.77. Molina Healthcare, Inc has a fifty-two week low of $121.06 and a fifty-two week high of $244.89. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.68 and a current ratio of 1.68.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.12. The company had revenue of $10.87 billion for the quarter, compared to the consensus estimate of $10.83 billion. Molina Healthcare had a negative net margin of 0.02% and a positive return on equity of 3.73%. Molina Healthcare’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.48 EPS. As a group, sell-side analysts forecast that Molina Healthcare, Inc will post 5.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MOH has been the subject of a number of recent analyst reports. Sanford C. Bernstein set a $286.00 price target on shares of Molina Healthcare in a research report on Monday, July 13th. Truist Financial lowered their target price on shares of Molina Healthcare from $250.00 to $225.00 and set a “hold” rating on the stock in a research note on Friday, July 24th. Wall Street Zen upgraded Molina Healthcare from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. UBS Group increased their price target on Molina Healthcare from $180.00 to $202.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Finally, Wells Fargo & Company lowered their price objective on Molina Healthcare from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $202.44.

Molina Healthcare Company Profile

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.