Creative Planning increased its stake in Molina Healthcare, Inc. (NYSE:MOH – Free Report) by 42.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,914 shares of the company’s stock after acquiring an additional 1,472 shares during the quarter. Creative Planning’s holdings in Molina Healthcare were worth $1,480,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in Molina Healthcare by 2,950.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 122 shares of the company’s stock worth $33,000 after acquiring an additional 118 shares in the last quarter. Coppell Advisory Solutions Corp. purchased a new stake in shares of Molina Healthcare during the fourth quarter worth $34,000. ST Germain D J Co. Inc. purchased a new stake in shares of Molina Healthcare during the fourth quarter worth $36,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Molina Healthcare during the first quarter worth $40,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Molina Healthcare by 85.9% during the first quarter. Parkside Financial Bank & Trust now owns 132 shares of the company’s stock worth $44,000 after buying an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.
Wall Street Analysts Forecast Growth
MOH has been the subject of a number of research reports. Stephens reaffirmed an “equal weight” rating and set a $350.00 target price on shares of Molina Healthcare in a report on Tuesday, October 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Molina Healthcare from $348.00 to $341.00 in a report on Friday, July 7th. Morgan Stanley reissued an “overweight” rating and issued a $365.00 price objective on shares of Molina Healthcare in a report on Friday, July 14th. Bank of America upped their price objective on shares of Molina Healthcare from $340.00 to $350.00 in a report on Thursday, July 27th. Finally, UBS Group assumed coverage on shares of Molina Healthcare in a report on Tuesday, June 20th. They issued a “neutral” rating and a $310.00 price objective for the company. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $349.38.
Insider Transactions at Molina Healthcare
In other news, Director Barbara L. Brasier sold 1,500 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $303.89, for a total transaction of $455,835.00. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at $982,172.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Barbara L. Brasier sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $303.89, for a total value of $455,835.00. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at $982,172.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeff D. Barlow sold 12,500 shares of the firm’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 transaction of $3,784,625.00. Following the completion of the sale, the insider now directly owns 64,973 shares in the company, valued at approximately $19,671,875.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,938 shares of company stock valued at $5,474,336. 1.10% of the stock is currently owned by corporate insiders.
Molina Healthcare Trading Down 0.2 %
NYSE MOH opened at $339.72 on Friday. The firm’s 50-day moving average is $322.30 and its two-hundred day moving average is $301.38. Molina Healthcare, Inc. has a 12 month low of $256.19 and a 12 month high of $374.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market capitalization of $19.81 billion, a P/E ratio of 21.53, a PEG ratio of 1.15 and a beta of 0.63.
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, topping the consensus estimate of $5.05 by $0.60. The business had revenue of $8.33 billion for the quarter, compared to analysts’ expectations of $8.32 billion. Molina Healthcare had a net margin of 2.81% and a return on equity of 35.87%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.55 earnings per share. On average, sell-side analysts anticipate that Molina Healthcare, Inc. will post 20.79 earnings per share for the current year.
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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