Molina Healthcare, Inc. (MOH) Shares Bought by Legal & General Group Plc
Legal & General Group Plc raised its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 14.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 77,419 shares of the company’s stock after purchasing an additional 9,533 shares during the period. Legal & General Group Plc’s holdings in Molina Healthcare were worth $7,582,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in MOH. Tiedemann Advisors LLC grew its stake in Molina Healthcare by 30.9% during the 1st quarter. Tiedemann Advisors LLC now owns 1,764,371 shares of the company’s stock valued at $143,231,000 after acquiring an additional 416,159 shares in the last quarter. Smith Asset Management Group LP purchased a new position in Molina Healthcare during the 2nd quarter valued at about $32,522,000. TCW Group Inc. grew its stake in Molina Healthcare by 83.3% during the 1st quarter. TCW Group Inc. now owns 726,883 shares of the company’s stock valued at $59,008,000 after acquiring an additional 330,339 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Molina Healthcare during the 2nd quarter valued at about $32,096,000. Finally, PointState Capital LP purchased a new position in Molina Healthcare during the 1st quarter valued at about $25,410,000.
In related news, Director Ronna Romney sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $138.11, for a total value of $27,622.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Cooperman sold 943 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $133.81, for a total value of $126,182.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,867 shares of company stock valued at $1,301,992. Corporate insiders own 0.65% of the company’s stock.
Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Tuesday, July 31st. The company reported $3.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $1.99. Molina Healthcare had a positive return on equity of 23.01% and a negative net margin of 0.26%. The business had revenue of $4.88 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the business posted ($4.01) EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. equities analysts forecast that Molina Healthcare, Inc. will post 6.68 earnings per share for the current year.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Molina Healthcare from a “hold” rating to a “strong-buy” rating and set a $113.00 price target for the company in a research note on Saturday, June 30th. JPMorgan Chase & Co. cut Molina Healthcare from an “overweight” rating to a “neutral” rating in a research note on Wednesday, June 27th. They noted that the move was a valuation call. TheStreet raised Molina Healthcare from a “c” rating to a “b-” rating in a research note on Monday, May 21st. Morgan Stanley boosted their price target on Molina Healthcare from $100.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, July 13th. Finally, Jefferies Financial Group raised Molina Healthcare from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. Molina Healthcare presently has a consensus rating of “Hold” and an average price target of $114.15.
Molina Healthcare Company Profile
Molina Healthcare, Inc provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program in the United States. It operates through three segments: Health Plans, Molina Medicaid Solutions, and Other.
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