BlackRock Inc. increased its stake in Molina Healthcare, Inc. (NYSE:MOH) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,752,811 shares of the company’s stock after buying an additional 22,368 shares during the period. BlackRock Inc. owned 9.19% of Molina Healthcare worth $823,458,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. Barings LLC grew its stake in shares of Molina Healthcare by 17.6% in the 2nd quarter. Barings LLC now owns 2,740 shares of the company’s stock worth $392,000 after buying an additional 410 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Molina Healthcare by 85.0% in the 2nd quarter. Royal Bank of Canada now owns 126,953 shares of the company’s stock worth $18,172,000 after buying an additional 58,341 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Molina Healthcare by 65.6% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 82,601 shares of the company’s stock worth $11,824,000 after buying an additional 32,727 shares during the last quarter. United Services Automobile Association grew its stake in shares of Molina Healthcare by 8.7% in the 2nd quarter. United Services Automobile Association now owns 24,946 shares of the company’s stock worth $3,571,000 after buying an additional 1,994 shares during the last quarter. Finally, Prestige Wealth Management Group LLC purchased a new stake in shares of Molina Healthcare in the 2nd quarter worth approximately $314,000. Institutional investors own 96.60% of the company’s stock.
MOH has been the topic of several recent research reports. Bank of America restated an “underperform” rating and issued a $140.00 price target (up previously from $132.00) on shares of Molina Healthcare in a research note on Wednesday, July 31st. Morgan Stanley cut their target price on Molina Healthcare from $172.00 to $158.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group downgraded Molina Healthcare from a “buy” rating to a “hold” rating and cut their target price for the company from $133.00 to $120.00 in a research note on Wednesday, October 30th. Deutsche Bank began coverage on Molina Healthcare in a research note on Thursday, September 12th. They set a “buy” rating and a $145.00 target price on the stock. Finally, Stephens set a $150.00 target price on Molina Healthcare and gave the company a “hold” rating in a research note on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Molina Healthcare currently has a consensus rating of “Hold” and a consensus target price of $154.33.
Shares of MOH opened at $126.18 on Friday. The business’s fifty day simple moving average is $116.73 and its two-hundred day simple moving average is $130.16. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 0.80. Molina Healthcare, Inc. has a 12 month low of $105.28 and a 12 month high of $159.00. The company has a market cap of $7.55 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 1.11 and a beta of 1.12.
Molina Healthcare (NYSE:MOH) last issued its earnings results on Tuesday, October 29th. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.70 by $0.10. The business had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.15 billion. Molina Healthcare had a return on equity of 49.14% and a net margin of 4.47%. The company’s revenue was down 9.7% compared to the same quarter last year. During the same period last year, the business posted $2.97 EPS. As a group, research analysts forecast that Molina Healthcare, Inc. will post 11.52 EPS for the current year.
In other news, Director Ronna Romney sold 375 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $121.97, for a total transaction of $45,738.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is owned by corporate insiders.
About Molina Healthcare
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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