Baird Financial Group Inc. Sells 2,823 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Posted by on Jun 11th, 2023

Baird Financial Group Inc. decreased its position in Molina Healthcare, Inc. (NYSE:MOH – Get Rating) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,130 shares of the company’s stock after selling 2,823 shares during the period. Baird Financial Group Inc. owned 0.06% of Molina Healthcare worth $10,941,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MOH. Vanguard Group Inc. boosted its holdings in Molina Healthcare by 18.4% in the first quarter. Vanguard Group Inc. now owns 6,449,375 shares of the company’s stock valued at $2,151,448,000 after acquiring an additional 1,001,372 shares during the last quarter. Durable Capital Partners LP bought a new position in Molina Healthcare in the first quarter valued at about $214,363,000. Invesco Ltd. boosted its holdings in Molina Healthcare by 151.6% in the first quarter. Invesco Ltd. now owns 893,693 shares of the company’s stock valued at $298,128,000 after acquiring an additional 538,493 shares during the last quarter. State Street Corp boosted its holdings in Molina Healthcare by 25.6% in the first quarter. State Street Corp now owns 2,457,008 shares of the company’s stock valued at $819,633,000 after acquiring an additional 501,107 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in Molina Healthcare by 338.8% in the fourth quarter. First Trust Advisors LP now owns 547,378 shares of the company’s stock valued at $180,757,000 after acquiring an additional 422,626 shares during the last quarter. Institutional investors own 94.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. reduced their target price on Molina Healthcare from $360.00 to $348.00 and set an “overweight” rating on the stock in a report on Thursday, February 23rd. Wells Fargo & Company reduced their target price on Molina Healthcare from $307.00 to $282.00 and set an “underweight” rating on the stock in a report on Tuesday, March 21st. Deutsche Bank Aktiengesellschaft reduced their target price on Molina Healthcare from $365.00 to $335.00 in a report on Monday, May 8th. Cantor Fitzgerald assumed coverage on Molina Healthcare in a report on Thursday, April 20th. They set an “overweight” rating and a $354.00 target price on the stock. Finally, Credit Suisse Group raised their target price on Molina Healthcare from $347.00 to $350.00 in a report on Friday, April 28th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $354.75.

Molina Healthcare Trading Down 1.0 %

NYSE:MOH opened at $284.34 on Friday. The business’s 50-day simple moving average is $287.21 and its 200-day simple moving average is $297.03. Molina Healthcare, Inc. has a fifty-two week low of $249.78 and a fifty-two week high of $374.00. The stock has a market capitalization of $16.58 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.06 and a beta of 0.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.47.

Molina Healthcare (NYSE:MOH – Get Rating) last announced its earnings results 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 for the quarter, compared to analyst estimates of $8.31 billion. During the same quarter last year, the firm earned $4.90 EPS. Molina Healthcare’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts expect that Molina Healthcare, Inc. will post 20.26 earnings per share for the current fiscal year.

Molina Healthcare 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.

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Institutional Ownership by Quarter for Molina Healthcare (NYSE:MOH)

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