Allspring Global Investments Holdings LLC Raises Holdings in Molina Healthcare, Inc (NYSE:MOH)

Allspring Global Investments Holdings LLC increased its stake in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 64.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,668 shares of the company's stock after acquiring an additional 8,077 shares during the period. Allspring Global Investments Holdings LLC's holdings in Molina Healthcare were worth $6,773,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MOH. Smartleaf Asset Management LLC grew its position in shares of Molina Healthcare by 123.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 347 shares of the company's stock valued at $100,000 after acquiring an additional 192 shares during the period. Farther Finance Advisors LLC grew its holdings in Molina Healthcare by 100.3% in the first quarter. Farther Finance Advisors LLC now owns 659 shares of the company's stock valued at $216,000 after purchasing an additional 330 shares during the period. Raymond James Financial Inc. acquired a new stake in Molina Healthcare in the fourth quarter valued at approximately $10,725,000. US Bancorp DE increased its position in shares of Molina Healthcare by 22.3% in the fourth quarter. US Bancorp DE now owns 1,993 shares of the company's stock valued at $580,000 after buying an additional 364 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Molina Healthcare by 82.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,635 shares of the company's stock worth $5,150,000 after buying an additional 7,051 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Molina Healthcare Price Performance

Molina Healthcare stock opened at $239.51 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average price of $302.25 and a 200 day moving average price of $305.47. Molina Healthcare, Inc has a 12-month low of $236.37 and a 12-month high of $365.23. The stock has a market cap of $12.98 billion, a P/E ratio of 11.56, a PEG ratio of 0.80 and a beta of 0.55.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 EPS for the quarter, beating the consensus estimate of $5.96 by $0.12. Molina Healthcare had a net margin of 2.81% and a return on equity of 28.38%. 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 previous year, the company earned $5.73 EPS. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. Sell-side analysts anticipate that Molina Healthcare, Inc will post 24.4 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on MOH. Robert W. Baird restated a "neutral" rating and set a $375.00 price objective (up from $331.00) on shares of Molina Healthcare in a research report on Tuesday, April 15th. Guggenheim started coverage on shares of Molina Healthcare in a research report on Wednesday, April 9th. They set a "neutral" rating for the company. Baird R W lowered shares of Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Sanford C. Bernstein initiated coverage on Molina Healthcare in a report on Tuesday, April 22nd. They set an "outperform" rating and a $414.00 target price for the company. Finally, Truist Financial raised their target price on Molina Healthcare from $340.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Molina Healthcare presently has an average rating of "Hold" and an average target price of $364.21.

Insider Buying and Selling at Molina Healthcare

In other news, CEO Joseph M. Zubretsky sold 87,500 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total transaction of $28,005,250.00. Following the completion of the transaction, the chief executive officer directly owned 257,715 shares in the company, valued at approximately $82,484,262.90. This represents a 25.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard M. Schapiro sold 669 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $320.50, for a total transaction of $214,414.50. Following the completion of the transaction, the director directly owned 11,244 shares in the company, valued at $3,603,702. The trade was a 5.62% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

About Molina Healthcare

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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