New Mexico Educational Retirement Board Increases Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Posted by Defense World Staff on Oct 3rd, 2023

New Mexico Educational Retirement Board grew its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH – Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,800 shares of the company’s stock after purchasing an additional 100 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Molina Healthcare were worth $843,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MOH. Raymond James Financial Services Advisors Inc. increased its position in shares of Molina Healthcare by 5.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,651 shares of the company’s stock valued at $551,000 after purchasing an additional 89 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of 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 purchasing an additional 9,599 shares during the last quarter. Prudential PLC purchased a new stake in shares of Molina Healthcare during the 1st quarter valued at $422,000. Cetera Investment Advisers increased its position in shares of Molina Healthcare by 10.1% during the 1st 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 bought a new position in shares of Molina Healthcare during the 1st quarter worth $2,814,000. 98.11% of the stock is owned by hedge funds and other institutional investors.

Molina Healthcare Stock Performance

Shares of MOH opened at $332.51 on Tuesday. The company has a market cap of $19.39 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 1.11 and a beta of 0.63. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $318.61 and a 200-day moving average price of $298.29. Molina Healthcare, Inc. has a 12-month low of $256.19 and a 12-month high of $374.00.

Molina Healthcare (NYSE:MOH – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $5.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.60. The firm had revenue of $8.33 billion during the quarter, compared to the consensus estimate of $8.32 billion. Molina Healthcare had a return on equity of 35.87% and a net margin of 2.81%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $4.55 EPS. As a group, equities analysts forecast that Molina Healthcare, Inc. will post 20.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $359.00 price target on shares of Molina Healthcare in a research note on Thursday, September 14th. Truist Financial cut their price target on Molina Healthcare from $380.00 to $365.00 in a research note on Tuesday, June 20th. UBS Group assumed coverage on Molina Healthcare in a research note on Tuesday, June 20th. They set a “neutral” rating and a $310.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and set a $365.00 price target on shares of Molina Healthcare in a research note on Friday, July 14th. Finally, StockNews.com upgraded Molina Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Molina Healthcare has a consensus rating of “Moderate Buy” and an average price target of $351.31.

Read Our Latest Analysis on MOH

Insider Activity at Molina Healthcare

In related news, CAO Maurice Hebert sold 692 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $328.15, for a total transaction of $227,079.80. Following the transaction, the chief accounting officer now directly owns 8,528 shares of the company’s stock, valued at approximately $2,798,463.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jeff D. Barlow sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $302.77, for a total transaction of $3,784,625.00. Following the transaction, the insider now directly owns 64,973 shares of the company’s stock, valued at approximately $19,671,875.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Maurice Hebert sold 692 shares of Molina Healthcare stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $328.15, for a total value of $227,079.80. Following the completion of the transaction, the chief accounting officer now directly owns 8,528 shares in the company, valued at $2,798,463.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,938 shares of company stock valued at $5,474,336. Corporate insiders own 1.10% of the company’s stock.

Molina Healthcare 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.