312,549 Shares in Molina Healthcare, Inc $MOH Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 312,549 Molina Healthcare shares worth approximately $71.5 million, giving it a 0.60% stake. Institutional investors and hedge funds collectively own 98.5% of MOH.
• Molina reported quarterly EPS of $1.51, beating estimates of $1.39, while revenue reached $10.87 billion. However, revenue declined 4.8% year over year and the company posted a nearly breakeven net margin.
• Analyst sentiment remains cautious: MOH has a consensus “Hold” rating and an average price target of $202.44, close to its $201.22 share price, with three Buy, twelve Hold, and two Sell ratings.

Bank of America Corp DE acquired a new position in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 312,549 shares of the company's stock, valued at approximately $71,480,000. Bank of America Corp DE owned approximately 0.60% of Molina Healthcare at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MOH. 7G Capital Management LLC purchased a new position in Molina Healthcare during the fourth quarter worth approximately $1,735,000. BNP Paribas Financial Markets grew its holdings in shares of Molina Healthcare by 63.0% in the fourth quarter. BNP Paribas Financial Markets now owns 439,371 shares of the company's stock valued at $76,248,000 after purchasing an additional 169,739 shares during the period. Assenagon Asset Management S.A. increased its position in Molina Healthcare by 394.1% during the second quarter. Assenagon Asset Management S.A. now owns 156,632 shares of the company's stock worth $35,822,000 after purchasing an additional 124,929 shares during the last quarter. Algert Global LLC increased its position in Molina Healthcare by 35.5% during the second quarter. Algert Global LLC now owns 52,240 shares of the company's stock worth $11,947,000 after purchasing an additional 13,690 shares during the last quarter. Finally, Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Molina Healthcare during the second quarter worth about $22,656,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Molina Healthcare Stock Performance

Shares of Molina Healthcare stock opened at $201.22 on Friday. The firm's 50 day moving average is $205.23 and its two-hundred day moving average is $186.15. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.95. Molina Healthcare, Inc has a 52 week low of $121.06 and a 52 week high of $244.89. The firm has a market capitalization of $10.50 billion, a P/E ratio of -1,117.82, a P/E/G ratio of 28.78 and a beta of 0.75.

Molina Healthcare (NYSE:MOH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.12. Molina Healthcare had a negative net margin of 0.02% and a positive return on equity of 3.73%. The company had revenue of $10.87 billion for the quarter, compared to analyst estimates of $10.83 billion. During the same period in the previous year, the business posted $5.48 earnings per share. Molina Healthcare's quarterly revenue was down 4.8% on a year-over-year basis. Research analysts forecast that Molina Healthcare, Inc will post 5.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MOH has been the topic of several recent analyst reports. Sanford C. Bernstein set a $286.00 target price on shares of Molina Healthcare in a report on Monday, July 13th. Zacks Research cut Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Truist Financial reduced their target price on Molina Healthcare from $250.00 to $225.00 and set a "hold" rating on the stock in a research report on Friday, July 24th. Wall Street Zen lowered shares of Molina Healthcare from a "hold" rating to a "sell" rating in a report on Saturday, August 29th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Molina Healthcare in a research report on Friday, September 4th. Three analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $202.44.

About Molina Healthcare

Molina Healthcare, Inc is a managed care company that provides health insurance and related services through government-sponsored programs. Its primary lines of business include Medicaid, Medicare, and Affordable Care Act Marketplace plans, with a focus on serving low-income individuals, families, seniors, and people with complex medical needs.

The company offers health plans that coordinate medical, behavioral health, pharmacy, and other care services through contracted provider networks.

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