Allspring Global Investments Holdings LLC Sells 44,858 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Posted by on Jul 1st, 2023

Allspring Global Investments Holdings LLC lessened its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH – Free Report) by 41.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,326 shares of the company’s stock after selling 44,858 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Molina Healthcare worth $16,939,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MOH. Vanguard Group Inc. grew its holdings in Molina Healthcare by 18.4% during the 1st quarter. Vanguard Group Inc. now owns 6,449,375 shares of the company’s stock valued at $2,151,448,000 after buying an additional 1,001,372 shares in the last quarter. Norges Bank purchased a new position in Molina Healthcare during the 4th quarter valued at approximately $214,801,000. Durable Capital Partners LP purchased a new position in Molina Healthcare during the 1st quarter valued at approximately $214,363,000. Invesco Ltd. boosted its holdings in shares of Molina Healthcare by 151.6% in the 1st quarter. Invesco Ltd. now owns 893,693 shares of the company’s stock worth $298,128,000 after purchasing an additional 538,493 shares during the period. Finally, State Street Corp boosted its holdings in shares of Molina Healthcare by 25.6% in the 1st quarter. State Street Corp now owns 2,457,008 shares of the company’s stock worth $819,633,000 after purchasing an additional 501,107 shares during the period. Institutional investors own 95.09% of the company’s stock.

Analyst Upgrades and Downgrades

MOH has been the subject of a number of recent research reports. Truist Financial dropped their target price on Molina Healthcare from $380.00 to $365.00 in a report on Tuesday, June 20th. UBS Group initiated coverage on Molina Healthcare in a report on Tuesday, June 20th. They issued a “neutral” rating and a $310.00 target price for the company. Cantor Fitzgerald initiated coverage on Molina Healthcare in a report on Thursday, April 20th. They issued an “overweight” rating and a $354.00 target price for the company. Credit Suisse Group lifted their target price on Molina Healthcare from $347.00 to $350.00 in a report on Friday, April 28th. Finally, StockNews.com cut Molina Healthcare from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Molina Healthcare has a consensus rating of “Hold” and a consensus target price of $353.50.

Molina Healthcare Trading Up 2.2 %

Shares of NYSE MOH opened at $301.24 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $286.83 and a two-hundred day simple moving average of $292.76. The firm has a market cap of $17.56 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. Molina Healthcare, Inc. has a twelve month low of $256.19 and a twelve month high of $374.00.

Molina Healthcare (NYSE:MOH – Free Report) last issued its earnings results on Wednesday, April 26th. The company reported $5.81 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.68. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.31 billion. Molina Healthcare had a return on equity of 36.20% and a net margin of 2.64%. Molina Healthcare’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $4.90 EPS. Analysts expect that Molina Healthcare, Inc. will post 20.31 earnings per share for the current fiscal year.

Molina Healthcare Company Profile

(Free Report)

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.

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

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