Molina Healthcare Inc. (MOH) Position Increased by Algert Global LLC
Algert Global LLC boosted its stake in shares of Molina Healthcare Inc. (NYSE:MOH) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,236 shares of the company’s stock after buying an additional 136 shares during the period. Algert Global LLC’s holdings in Molina Healthcare were worth $947,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Molina Healthcare by 15.2% in the first quarter. Renaissance Technologies LLC now owns 1,208,150 shares of the company’s stock worth $77,914,000 after buying an additional 159,572 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Molina Healthcare during the second quarter worth approximately $13,970,000. Eqis Capital Management Inc. increased its position in shares of Molina Healthcare by 65.9% in the second quarter. Eqis Capital Management Inc. now owns 5,802 shares of the company’s stock worth $290,000 after buying an additional 2,305 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Molina Healthcare by 120.9% in the second quarter. Victory Capital Management Inc. now owns 728,913 shares of the company’s stock worth $36,373,000 after buying an additional 398,897 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its position in shares of 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 in the last quarter. Institutional investors own 87.59% of the company’s stock.
Molina Healthcare Inc. (NYSE:MOH) opened at 55.98 on Friday. Molina Healthcare Inc. has a 12-month low of $44.50 and a 12-month high of $70.82. The firm has a 50 day moving average of $56.50 and a 200-day moving average of $54.70. The stock has a market cap of $3.18 billion, a PE ratio of 24.23 and a beta of 1.54.
Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.35 billion. During the same period last year, the business earned $0.72 earnings per share. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, analysts expect that Molina Healthcare Inc. will post $2.74 earnings per share for the current year.
MOH has been the subject of several research reports. Jefferies Group upped their price target on shares of Molina Healthcare from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Goldman Sachs Group Inc. raised shares of Molina Healthcare from a “sell” rating to a “neutral” rating and upped their price target for the stock from $51.00 to $58.00 in a research 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 target for the company in a research report on Tuesday, September 27th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Molina Healthcare in a research report on Tuesday, June 28th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $55.00 price target on shares of Molina Healthcare in a research report on Friday, July 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $62.80.
In related 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 completion of the transaction, the chief operating officer now owns 176,834 shares in the company, valued at $10,256,372. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph W. Cpa White sold 6,676 shares of Molina Healthcare stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $58.48, for a total transaction of $390,412.48. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by corporate 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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