Assetmark Inc. raised its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH – Free Report) by 15.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,961 shares of the company’s stock after purchasing an additional 260 shares during the quarter. Assetmark Inc.’s holdings in Molina Healthcare were worth $525,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in MOH. Raymond James Financial Services Advisors Inc. grew its stake in shares of 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 acquiring an additional 89 shares in the last quarter. Allianz Asset Management GmbH grew its stake in shares of Molina Healthcare by 496.1% in the 1st quarter. Allianz Asset Management GmbH now owns 11,534 shares of the company’s stock worth $3,848,000 after acquiring an additional 9,599 shares in the last quarter. Prudential PLC bought a new stake in shares of Molina Healthcare in the 1st quarter worth $422,000. Cetera Investment Advisers grew its stake in shares of Molina Healthcare by 10.1% in the 1st quarter. Cetera Investment Advisers now owns 1,296 shares of the company’s stock worth $432,000 after acquiring an additional 119 shares in the last quarter. Finally, Mackay Shields LLC bought a new stake in shares of Molina Healthcare in the 1st quarter worth $2,814,000. Institutional investors own 95.09% of the company’s stock.
Insider Buying and Selling
In related news, insider Jeff D. Barlow sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $302.77, for a total value of $3,784,625.00. Following the transaction, the insider now directly owns 64,973 shares in the company, valued at $19,671,875.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Molina Healthcare news, Director Steven J. Orlando sold 723 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $301.25, for a total transaction of $217,803.75. Following the transaction, the director now directly owns 20,265 shares in the company, valued at $6,104,831.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff D. Barlow sold 12,500 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $302.77, for a total transaction of $3,784,625.00. Following the transaction, the insider now owns 64,973 shares in the company, valued at $19,671,875.21. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,246 shares of company stock worth $5,247,256. Insiders own 1.10% of the company’s stock.
Molina Healthcare Trading Up 0.1 %
Molina Healthcare (NYSE:MOH – Get Free Report) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $5.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.60. The firm had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $8.32 billion. Molina Healthcare had a net margin of 2.81% and a return on equity of 35.87%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.55 earnings per share. On average, equities analysts expect that Molina Healthcare, Inc. will post 20.76 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $365.00 target price on shares of Molina Healthcare in a research note on Friday, July 14th. JPMorgan Chase & Co. cut their price target on shares of Molina Healthcare from $348.00 to $341.00 in a report on Friday, July 7th. Bank of America boosted their price target on shares of Molina Healthcare from $340.00 to $350.00 in a report on Thursday, July 27th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Molina Healthcare from $365.00 to $335.00 in a report on Monday, May 8th. Finally, UBS Group assumed coverage on shares of Molina Healthcare in a report on Tuesday, June 20th. They set a “neutral” rating and a $310.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Molina Healthcare has a consensus rating of “Moderate Buy” and an average price target of $350.92.
About Molina Healthcare
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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