Prudential Financial Inc. Sells 23,679 Shares of Molina Healthcare Inc. (MOH)
Prudential Financial Inc. cut its position in shares of Molina Healthcare Inc. (NYSE:MOH) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 220,609 shares of the company’s stock after selling 23,679 shares during the period. Prudential Financial Inc. owned about 0.39% of Molina Healthcare worth $11,009,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MOH. BlackRock Japan Co. Ltd raised its position in Molina Healthcare by 9.0% in the first quarter. BlackRock Japan Co. Ltd now owns 1,848 shares of the company’s stock worth $119,000 after buying an additional 152 shares during the period. Advance Capital I Inc. purchased a new position in Molina Healthcare during the second quarter worth approximately $215,000. Wright Investors Service Inc. purchased a new position in Molina Healthcare during the second quarter worth approximately $224,000. Cambridge Investment Research Advisors Inc. purchased a new position in Molina Healthcare during the second quarter worth approximately $237,000. Finally, Teacher Retirement System of Texas raised its position in Molina Healthcare by 6.2% in the second quarter. Teacher Retirement System of Texas now owns 5,511 shares of the company’s stock worth $275,000 after buying an additional 324 shares during the period. Institutional investors and hedge funds own 87.58% of the company’s stock.
Shares of Molina Healthcare Inc. (NYSE:MOH) traded down 0.32% during trading on Tuesday, hitting $56.55. 46,689 shares of the stock traded hands. Molina Healthcare Inc. has a 12 month low of $44.50 and a 12 month high of $70.82. The stock has a market cap of $3.21 billion, a PE ratio of 24.48 and a beta of 1.53. The firm’s 50-day moving average price is $56.26 and its 200-day moving average price is $54.92.
Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.49 by $0.18. Molina Healthcare had a net margin of 0.83% and a return on equity of 9.60%. The business earned $4.36 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the previous year, the business posted $0.72 EPS. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. Analysts anticipate that Molina Healthcare Inc. will post $2.74 EPS for the current year.
MOH has been the subject of a number of research analyst reports. Jefferies Group lifted their price objective on shares of Molina Healthcare from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, September 13th. Goldman Sachs Group Inc. raised shares of Molina Healthcare from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $51.00 to $58.00 in a report on Monday, September 19th. Zacks Investment Research raised shares of Molina Healthcare from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, September 27th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Molina Healthcare in a report on Tuesday, June 28th. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Molina Healthcare in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Molina Healthcare has a consensus rating of “Hold” and an average target price of $62.80.
In other news, COO Terry Bayer sold 8,250 shares of Molina Healthcare stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $58.00, for a total value of $478,500.00. Following the transaction, the chief operating officer now owns 176,834 shares of the company’s stock, valued at approximately $10,256,372. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronna Romney sold 750 shares of Molina Healthcare stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $55.00, for a total transaction of $41,250.00. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by insiders.
About Molina Healthcare
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other. Its Health Plans segment consists of health plans in approximately 10 states and the Commonwealth of Puerto Rico, and its direct delivery business.
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