Molina Healthcare Inc (MOH) Shares Gap Down After Insider Selling
Molina Healthcare Inc (NYSE:MOH) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $67.34, but opened at $63.42. Molina Healthcare shares last traded at $61.28, with a volume of 3,307,149 shares traded.
Specifically, insider William Dentino sold 66,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $60.09, for a total transaction of $3,965,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John C. Molina sold 21,277 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $70.53, for a total value of $1,500,666.81. Following the transaction, the director now owns 611,154 shares of the company’s stock, valued at $43,104,691.62. The disclosure for this sale can be found here. Insiders sold a total of 320,769 shares of company stock valued at $20,590,825 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.
A number of research firms have recently weighed in on MOH. Jefferies Group LLC reiterated a “hold” rating and set a $72.00 price target on shares of Molina Healthcare in a report on Friday, July 14th. Zacks Investment Research cut Molina Healthcare from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. BidaskClub cut Molina Healthcare from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Morgan Stanley upgraded Molina Healthcare from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $65.00 to $68.00 in a report on Thursday, August 17th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $72.00 price target on shares of Molina Healthcare in a report on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Molina Healthcare currently has a consensus rating of “Hold” and an average target price of $61.68.
The company’s market capitalization is $3.50 billion. The stock’s 50-day moving average is $65.15 and its 200 day moving average is $62.80.
Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.87). Molina Healthcare had a positive return on equity of 16.10% and a negative net margin of 1.07%. The company had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same period in the previous year, the company earned $0.67 EPS. Molina Healthcare’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts expect that Molina Healthcare Inc will post ($2.70) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Molina Healthcare by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,240 shares of the company’s stock worth $432,000 after buying an additional 23 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Molina Healthcare by 2.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,660 shares of the company’s stock worth $392,000 after buying an additional 150 shares during the period. Advantus Capital Management Inc boosted its position in shares of Molina Healthcare by 2.9% in the first quarter. Advantus Capital Management Inc now owns 5,449 shares of the company’s stock worth $248,000 after buying an additional 153 shares during the period. Retirement Systems of Alabama boosted its position in shares of Molina Healthcare by 0.3% in the second quarter. Retirement Systems of Alabama now owns 55,116 shares of the company’s stock worth $3,813,000 after buying an additional 167 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Molina Healthcare by 1.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 14,440 shares of the company’s stock worth $659,000 after buying an additional 240 shares during the period. 96.04% of the stock is owned by institutional investors.
Molina Healthcare Company Profile
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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