Raymond James Financial Services Advisors Inc. Trims Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Posted by Defense World Staff on Nov 3rd, 2023

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Molina Healthcare, Inc. (NYSE:MOH – Free Report) by 17.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,197 shares of the company’s stock after selling 257 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Molina Healthcare were worth $361,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH boosted its position in Molina Healthcare by 496.1% in the 1st quarter. Allianz Asset Management GmbH now owns 11,534 shares of the company’s stock valued at $3,848,000 after buying an additional 9,599 shares during the period. Prudential PLC acquired a new stake in Molina Healthcare in the 1st quarter valued at about $422,000. Cetera Investment Advisers boosted 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 valued at $432,000 after buying an additional 119 shares during the period. Mackay Shields LLC purchased a new position in shares of Molina Healthcare in the 1st quarter valued at about $2,814,000. Finally, Vanguard Group Inc. grew its position in shares of Molina Healthcare by 18.4% during the first quarter. Vanguard Group Inc. now owns 6,449,375 shares of the company’s stock worth $2,151,448,000 after buying an additional 1,001,372 shares in the last quarter. Institutional investors and hedge funds own 98.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America increased their target price on Molina Healthcare from $340.00 to $350.00 in a report on Thursday, July 27th. Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Molina Healthcare in a research note on Tuesday, October 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $359.00 target price on shares of Molina Healthcare in a report on Thursday, September 14th. StockNews.com upgraded shares of Molina Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 12th. Finally, JPMorgan Chase & Co. dropped their price objective on Molina Healthcare from $348.00 to $341.00 in a report on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $349.38.

Get Our Latest Research Report on MOH

Insider Buying and Selling at Molina Healthcare

In other news, CAO Maurice Hebert sold 692 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $328.15, for a total transaction of $227,079.80. Following the completion of 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 document filed with the SEC, which is accessible through this link. In other Molina Healthcare news, EVP Marc Russo sold 2,523 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $312.72, for a total transaction of $788,992.56. Following the sale, the executive vice president now directly owns 37,093 shares in the company, valued at $11,599,722.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Maurice Hebert sold 692 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were 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 owns 8,528 shares of the company’s stock, valued at approximately $2,798,463.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,349 shares of company stock valued at $1,385,711. 1.10% of the stock is owned by corporate insiders.

Molina Healthcare Trading Up 0.2 %

Shares of MOH stock opened at $337.66 on Friday. The company has a market capitalization of $19.69 billion, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 1.10 and a beta of 0.57. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $331.52 and its two-hundred day moving average is $308.11. Molina Healthcare, Inc. has a twelve month low of $256.19 and a twelve month high of $364.91.

Molina Healthcare (NYSE:MOH – Get Free Report) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $5.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.87 by $0.18. Molina Healthcare had a net margin of 2.80% and a return on equity of 34.85%. The company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.24 billion. During the same period in the previous year, the company posted $4.36 EPS. Molina Healthcare’s revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that Molina Healthcare, Inc. will post 20.83 EPS for the current 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.