Elevation Point Wealth Partners LLC Purchases New Shares in Molina Healthcare, Inc $MOH

Elevation Point Wealth Partners LLC purchased a new position in Molina Healthcare, Inc (NYSE:MOH) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 4,544 shares of the company’s stock, valued at approximately $1,039,000.

A number of other institutional investors have also added to or reduced their stakes in MOH. BlackRock Inc. bought a new stake in shares of Molina Healthcare during the 2nd quarter valued at $1,503,052,000. AQR Capital Management LLC grew its position in shares of Molina Healthcare by 217.0% in the 3rd quarter. AQR Capital Management LLC now owns 2,934,130 shares of the company’s stock worth $561,475,000 after buying an additional 2,008,458 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Molina Healthcare by 10.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,171,433 shares of the company’s stock worth $376,831,000 after acquiring an additional 201,772 shares in the last quarter. Invesco Ltd. increased its stake in shares of Molina Healthcare by 24.2% in the 4th quarter. Invesco Ltd. now owns 1,690,981 shares of the company’s stock worth $293,453,000 after acquiring an additional 329,679 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Molina Healthcare by 46.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,410,604 shares of the company’s stock valued at $244,796,000 after acquiring an additional 447,078 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on MOH shares. Robert W. Baird boosted their price objective on shares of Molina Healthcare from $124.00 to $163.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Wells Fargo & Company decreased their target price on shares of Molina Healthcare from $235.00 to $220.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 28th. UBS Group lifted their target price on shares of Molina Healthcare from $180.00 to $202.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Zacks Research raised Molina Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Morgan Stanley upped their price target on Molina Healthcare from $146.00 to $167.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $202.44.

Molina Healthcare Stock Performance

Shares of Molina Healthcare stock opened at $198.65 on Tuesday. Molina Healthcare, Inc has a 1 year low of $121.06 and a 1 year high of $244.89. The firm’s 50-day moving average is $211.20 and its 200 day moving average is $178.68. The stock has a market cap of $10.37 billion, a price-to-earnings ratio of -1,103.57, a PEG ratio of 28.70 and a beta of 0.75. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.68 and a quick ratio of 1.68.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.12. The business had revenue of $10.87 billion during the quarter, compared to analyst estimates of $10.83 billion. Molina Healthcare had a negative net margin of 0.02% and a positive return on equity of 3.73%. Molina Healthcare’s revenue was down 4.8% compared to the same quarter last year. During the same period last year, the business earned $5.48 EPS. Sell-side analysts anticipate that Molina Healthcare, Inc will post 5.29 EPS for the current fiscal year.

About Molina Healthcare

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.