Envestnet Asset Management Inc. reduced its stake in Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 31.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,514 shares of the company's stock after selling 7,220 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Molina Healthcare were worth $4,515,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in shares of Molina Healthcare by 83.1% in the 4th quarter. Versant Capital Management Inc now owns 163 shares of the company's stock worth $47,000 after buying an additional 74 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Molina Healthcare in the fourth quarter valued at about $52,000. Hurley Capital LLC purchased a new position in Molina Healthcare in the fourth quarter valued at about $55,000. EverSource Wealth Advisors LLC boosted its stake in Molina Healthcare by 81.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 196 shares of the company's stock valued at $57,000 after acquiring an additional 88 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in Molina Healthcare by 895.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 199 shares of the company's stock valued at $58,000 after acquiring an additional 179 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.
Molina Healthcare Price Performance
Shares of NYSE:MOH traded up $6.00 during trading on Monday, reaching $320.51. The company had a trading volume of 624,444 shares, compared to its average volume of 672,357. The company has a fifty day moving average of $320.07 and a two-hundred day moving average of $307.33. The stock has a market capitalization of $17.53 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.06 and a beta of 0.70. Molina Healthcare, Inc. has a 12 month low of $262.32 and a 12 month high of $365.23. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69.
Molina Healthcare (NYSE:MOH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 EPS for the quarter, topping analysts' consensus estimates of $5.96 by $0.12. Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. The firm had revenue of $11.15 billion for the quarter, compared to analyst estimates of $10.86 billion. During the same quarter in the prior year, the firm earned $5.73 EPS. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. Equities research analysts forecast that Molina Healthcare, Inc. will post 24.4 earnings per share for the current year.
Insider Activity at Molina Healthcare
In related news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.33, for a total transaction of $301,330.00. Following the transaction, the director now owns 17,375 shares of the company's stock, valued at approximately $5,235,608.75. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have weighed in on MOH. Truist Financial boosted their target price on shares of Molina Healthcare from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Stephens reiterated an "equal weight" rating and issued a $345.00 target price on shares of Molina Healthcare in a research note on Thursday, February 6th. Mizuho boosted their target price on shares of Molina Healthcare from $376.00 to $400.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Robert W. Baird restated a "neutral" rating and set a $375.00 price target (up from $331.00) on shares of Molina Healthcare in a research note on Tuesday, April 15th. Finally, Baird R W cut shares of Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Molina Healthcare currently has an average rating of "Hold" and a consensus price target of $365.38.
Check Out Our Latest Stock Report on MOH
About Molina Healthcare
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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.
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