Pictet Asset Management SA Has $8.09 Million Stock Position in Molina Healthcare, Inc. (NYSE:MOH)

Posted by Defense World Staff on Feb 24th, 2023

Pictet Asset Management SA boosted its stake in shares of Molina Healthcare, Inc. (NYSE:MOH – Get Rating) by 3.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,538 shares of the company’s stock after buying an additional 919 shares during the period. Pictet Asset Management SA’s holdings in Molina Healthcare were worth $8,094,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its holdings in Molina Healthcare by 10.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 316 shares of the company’s stock worth $88,000 after buying an additional 31 shares during the period. JGP Global Gestao de Recursos Ltda. boosted its position in Molina Healthcare by 3.8% during the third quarter. JGP Global Gestao de Recursos Ltda. now owns 847 shares of the company’s stock worth $279,000 after purchasing an additional 31 shares during the period. KBC Group NV boosted its position in Molina Healthcare by 0.5% during the third quarter. KBC Group NV now owns 6,334 shares of the company’s stock worth $2,089,000 after purchasing an additional 33 shares during the period. Captrust Financial Advisors boosted its position in Molina Healthcare by 0.5% during the second quarter. Captrust Financial Advisors now owns 6,315 shares of the company’s stock worth $1,766,000 after purchasing an additional 33 shares during the period. Finally, Lmcg Investments LLC boosted its position in Molina Healthcare by 1.4% during the third quarter. Lmcg Investments LLC now owns 2,523 shares of the company’s stock worth $832,000 after purchasing an additional 35 shares during the period. 94.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MOH shares. Stephens reissued an “equal weight” rating and issued a $375.00 target price on shares of Molina Healthcare in a research report on Thursday, February 9th. Wells Fargo & Company cut their price objective on shares of Molina Healthcare from $340.00 to $307.00 and set an “underweight” rating for the company in a research report on Friday, February 17th. Credit Suisse Group lowered their target price on Molina Healthcare from $395.00 to $347.00 and set an “outperform” rating for the company in a research note on Friday, February 10th. Bank of America raised Molina Healthcare from an “underperform” rating to a “neutral” rating and set a $388.00 target price for the company in a research note on Tuesday, December 13th. Finally, Cowen upped their price objective on Molina Healthcare from $371.00 to $380.00 in a research note on Monday, November 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Molina Healthcare currently has a consensus rating of “Hold” and a consensus target price of $358.64.

Insider Transactions at Molina Healthcare

In other news, EVP Marc Russo sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $351.17, for a total value of $526,755.00. Following the completion of the sale, the executive vice president now directly owns 15,513 shares of the company’s stock, valued at approximately $5,447,700.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Marc Russo sold 1,500 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $351.17, for a total value of $526,755.00. Following the completion of the sale, the executive vice president now owns 15,513 shares of the company’s stock, valued at approximately $5,447,700.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dale B. Wolf sold 2,500 shares of Molina Healthcare stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $339.50, for a total value of $848,750.00. Following the sale, the director now directly owns 15,491 shares of the company’s stock, valued at approximately $5,259,194.50. The disclosure for this sale can be found here. Corporate insiders own 1.49% of the company’s stock.

Molina Healthcare Price Performance

Shares of Molina Healthcare stock opened at $293.69 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.47 and a quick ratio of 1.47. The business’s 50 day simple moving average is $308.04 and its two-hundred day simple moving average is $327.73. The stock has a market capitalization of $17.00 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 0.76 and a beta of 0.69. Molina Healthcare, Inc. has a one year low of $249.78 and a one year high of $374.00.

Molina Healthcare (NYSE:MOH – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.06 by $0.04. The company had revenue of $8.22 billion for the quarter, compared to analyst estimates of $7.87 billion. Molina Healthcare had a return on equity of 36.05% and a net margin of 2.48%. The firm’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.88 earnings per share. Analysts forecast that Molina Healthcare, Inc. will post 19.75 EPS for the current year.

Molina Healthcare Company Profile

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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.