Cadence Capital Management LLC purchased a new position in shares of Molina Healthcare, Inc. (NYSE:MOH) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,027 shares of the company’s stock, valued at approximately $1,788,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arrowgrass Capital Partners US LP purchased a new position in shares of Molina Healthcare during the 2nd quarter worth $4,711,000. Glenmede Trust Co. NA raised its holdings in shares of Molina Healthcare by 43,291.3% during the 2nd quarter. Glenmede Trust Co. NA now owns 49,900 shares of the company’s stock worth $4,887,000 after acquiring an additional 49,785 shares during the period. World Asset Management Inc raised its holdings in shares of Molina Healthcare by 13.9% during the 3rd quarter. World Asset Management Inc now owns 3,047 shares of the company’s stock worth $453,000 after acquiring an additional 372 shares during the period. Rhumbline Advisers raised its holdings in shares of Molina Healthcare by 22.4% during the 2nd quarter. Rhumbline Advisers now owns 104,482 shares of the company’s stock worth $10,233,000 after acquiring an additional 19,093 shares during the period. Finally, Epoch Investment Partners Inc. raised its holdings in Molina Healthcare by 32.7% in the 2nd quarter. Epoch Investment Partners Inc. now owns 354,562 shares of the company’s stock valued at $34,726,000 after buying an additional 87,460 shares during the period.
Shares of MOH opened at $134.16 on Friday. The stock has a market capitalization of $7.75 billion, a P/E ratio of 239.57, a P/E/G ratio of 1.23 and a beta of 1.52. Molina Healthcare, Inc. has a 12-month low of $71.07 and a 12-month high of $154.06. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.40 and a current ratio of 1.40.
Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $2.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.90. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.72 billion. Molina Healthcare had a net margin of 1.27% and a return on equity of 30.50%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.62) earnings per share. Analysts expect that Molina Healthcare, Inc. will post 7.71 earnings per share for the current year.
MOH has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of Molina Healthcare from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 13th. Zacks Investment Research lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Barclays initiated coverage on shares of Molina Healthcare in a report on Monday, July 23rd. They issued an “equal weight” rating and a $105.00 price objective on the stock. Bank of America boosted their price objective on shares of Molina Healthcare from $91.00 to $94.00 and gave the company an “underperform” rating in a report on Tuesday, July 24th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $134.00 price objective on shares of Molina Healthcare in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Molina Healthcare currently has an average rating of “Hold” and an average target price of $130.62.
In other Molina Healthcare news, insider James Woys purchased 25,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were bought at an average cost of $148.79 per share, for a total transaction of $3,719,750.00. Following the completion of the purchase, the insider now directly owns 17,203 shares of the company’s stock, valued at $2,559,634.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dale B. Wolf sold 4,000 shares of the business’s stock in a transaction dated Friday, November 9th. The stock was sold at an average price of $135.57, for a total transaction of $542,280.00. Following the sale, the director now owns 10,214 shares in the company, valued at $1,384,711.98. The disclosure for this sale can be found here. Insiders have sold 9,016 shares of company stock worth $1,235,805 over the last quarter. Insiders own 0.65% of the company’s stock.
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Molina Healthcare Profile
Molina Healthcare, Inc provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program in the United States. It operates through three segments: Health Plans, Molina Medicaid Solutions, and Other.
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