Nordea Investment Management AB lifted its position in shares of Molina Healthcare, Inc. (NYSE:MOH – Get Rating) by 106.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,288 shares of the company’s stock after buying an additional 3,755 shares during the period. Nordea Investment Management AB’s holdings in Molina Healthcare were worth $2,405,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of MOH. Raymond James Financial Services Advisors Inc. raised its position in Molina Healthcare by 5.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,651 shares of the company’s stock worth $551,000 after purchasing an additional 89 shares during the period. Allianz Asset Management GmbH boosted its holdings in Molina Healthcare by 496.1% during the 1st quarter. Allianz Asset Management GmbH now owns 11,534 shares of the company’s stock valued at $3,848,000 after acquiring an additional 9,599 shares during the period. Prudential PLC purchased a new position in Molina Healthcare in the 1st quarter worth approximately $422,000. Cetera Investment Advisers lifted its position in Molina Healthcare by 10.1% in the first quarter. Cetera Investment Advisers now owns 1,296 shares of the company’s stock valued at $432,000 after purchasing an additional 119 shares during the last quarter. Finally, Mackay Shields LLC purchased a new stake in shares of Molina Healthcare during the first quarter valued at approximately $2,814,000. Hedge funds and other institutional investors own 94.25% of the company’s stock.
Wall Street Analyst Weigh In
MOH has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Molina Healthcare from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 4th. Stephens reiterated an “equal weight” rating and issued a $375.00 price objective on shares of Molina Healthcare in a report on Thursday, February 9th. JPMorgan Chase & Co. cut their price objective on Molina Healthcare from $360.00 to $348.00 and set an “overweight” rating on the stock in a research report on Thursday, February 23rd. Truist Financial decreased their target price on Molina Healthcare from $400.00 to $380.00 and set a “buy” rating for the company in a report on Friday, February 10th. Finally, Wells Fargo & Company cut their price target on shares of Molina Healthcare from $307.00 to $282.00 and set an “underweight” rating on the stock in a report on Tuesday, March 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $354.75.
Molina Healthcare Price Performance
MOH stock opened at $298.71 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a 50 day moving average price of $280.36 and a 200-day moving average price of $304.43. Molina Healthcare, Inc. has a 52-week low of $249.78 and a 52-week high of $374.00. The firm has a market capitalization of $17.41 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.10 and a beta of 0.68.
Molina Healthcare (NYSE:MOH – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The company reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.68. Molina Healthcare had a return on equity of 36.20% and a net margin of 2.64%. The business had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter in the previous year, the business earned $4.90 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts forecast that Molina Healthcare, Inc. will post 20.25 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Daniel Cooperman sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $276.77, for a total transaction of $1,383,850.00. Following the completion of the sale, the director now owns 4,944 shares of the company’s stock, valued at $1,368,350.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
About Molina Healthcare
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Molina Healthcare, Inc engages in the provision of health care services. It operates through the following segments: Medicaid, Medicare, Marketplace, and Other. The company was founded by C. David Molina in 1980 and is headquartered in Long Beach, CA.
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