Molina Healthcare Inc (MOH) Holdings Lifted by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System boosted its holdings in Molina Healthcare Inc (NYSE:MOH) by 86.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,338 shares of the company’s stock after purchasing an additional 18,700 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.07% of Molina Healthcare worth $2,791,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of MOH. Point72 Asset Management L.P. boosted its stake in Molina Healthcare by 1,821.5% in the 1st quarter. Point72 Asset Management L.P. now owns 599,500 shares of the company’s stock worth $27,337,000 after purchasing an additional 568,300 shares during the period. Acadian Asset Management LLC boosted its stake in Molina Healthcare by 6,812.6% in the 2nd quarter. Acadian Asset Management LLC now owns 415,587 shares of the company’s stock worth $28,748,000 after purchasing an additional 409,575 shares during the period. Redmile Group LLC boosted its stake in Molina Healthcare by 42.7% in the 1st quarter. Redmile Group LLC now owns 1,149,727 shares of the company’s stock worth $52,428,000 after purchasing an additional 344,181 shares during the period. Dimensional Fund Advisors LP boosted its stake in Molina Healthcare by 12.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,488,977 shares of the company’s stock worth $113,498,000 after purchasing an additional 282,144 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Molina Healthcare by 20.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,583,018 shares of the company’s stock worth $72,186,000 after purchasing an additional 263,892 shares during the period. Institutional investors and hedge funds own 96.04% of the company’s stock.
Shares of Molina Healthcare Inc (NYSE MOH) opened at 65.04 on Friday. Molina Healthcare Inc has a 12-month low of $42.56 and a 12-month high of $72.79. The company’s 50-day moving average price is $63.02 and its 200 day moving average price is $59.58. The stock’s market cap is $3.71 billion.
Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.87. The company had revenue of $5 billion for the quarter, compared to analyst estimates of $4.88 billion. Molina Healthcare had a positive return on equity of 16.10% and a negative net margin of 1.07%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. On average, equities analysts predict that Molina Healthcare Inc will post ($2.96) earnings per share for the current year.
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In other Molina Healthcare news, insider William Dentino sold 66,000 shares of the business’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $68.68, for a total transaction of $4,532,880.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lisa A. Rubino sold 5,378 shares of the business’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $60.30, for a total value of $324,293.40. The disclosure for this sale can be found here. Insiders have sold 327,486 shares of company stock worth $21,309,611 in the last three months. 6.20% of the stock is currently owned by corporate insiders.
Several brokerages have recently issued reports on MOH. Jefferies Group LLC reaffirmed a “hold” rating and set a $72.00 price objective on shares of Molina Healthcare in a report on Friday, July 14th. Stifel Nicolaus cut Molina Healthcare from a “hold” rating to a “sell” rating and upped their price objective for the stock from $47.00 to $60.00 in a report on Wednesday, May 31st. Wolfe Research reaffirmed a “market perform” rating and set a $69.00 price objective on shares of Molina Healthcare in a report on Monday, May 15th. Zacks Investment Research cut Molina Healthcare from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub cut Molina Healthcare from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $62.39.
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, which includes its Pathways Health and Community Support LLC (Pathways) business.
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