Commerce Bank Increases Stake in Molina Healthcare, Inc. (NYSE:MOH)

Commerce Bank boosted its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,813 shares of the company’s stock after purchasing an additional 76 shares during the period. Commerce Bank’s holdings in Molina Healthcare were worth $4,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MOH. Norges Bank purchased a new stake in Molina Healthcare during the 4th quarter worth approximately $275,143,000. Wellington Management Group LLP boosted its stake in shares of Molina Healthcare by 8.3% in the third quarter. Wellington Management Group LLP now owns 3,395,040 shares of the company’s stock worth $1,113,200,000 after acquiring an additional 259,474 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Molina Healthcare by 10.4% in the third quarter. Invesco Ltd. now owns 1,190,161 shares of the company’s stock worth $390,242,000 after acquiring an additional 112,243 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Molina Healthcare by 28.5% during the third quarter. Lord Abbett & CO. LLC now owns 470,386 shares of the company’s stock worth $154,234,000 after purchasing an additional 104,350 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Molina Healthcare by 4,019.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 103,185 shares of the company’s stock valued at $37,282,000 after purchasing an additional 100,680 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Molina Healthcare Stock Performance

Molina Healthcare stock opened at $332.13 on Friday. The firm has a 50 day simple moving average of $368.87 and a 200-day simple moving average of $372.20. The stock has a market cap of $19.46 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.02 and a beta of 0.54. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.49. Molina Healthcare, Inc. has a 1-year low of $266.35 and a 1-year high of $423.92.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, April 24th. The company reported $5.73 EPS for the quarter, beating analysts’ consensus estimates of $5.46 by $0.27. The firm had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.45 billion. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the firm posted $5.81 earnings per share. On average, analysts expect that Molina Healthcare, Inc. will post 23.57 EPS for the current year.

Insider Transactions at Molina Healthcare

In related news, COO James Woys sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the completion of the sale, the chief operating officer now directly owns 53,613 shares of the company’s stock, valued at approximately $18,504,526.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ronna Romney sold 250 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total value of $85,817.50. Following the transaction, the director now directly owns 16,945 shares in the company, valued at approximately $5,816,710.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO James Woys sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the transaction, the chief operating officer now directly owns 53,613 shares of the company’s stock, valued at approximately $18,504,526.95. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MOH shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 target price on shares of Molina Healthcare in a report on Thursday, April 4th. TD Cowen dropped their price objective on shares of Molina Healthcare from $453.00 to $412.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Truist Financial increased their price objective on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Stephens restated an “equal weight” rating and set a $390.00 target price on shares of Molina Healthcare in a report on Thursday, April 25th. Finally, Bank of America lowered Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price target for the company. in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $404.90.

Molina Healthcare Profile

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.