Bank of America Corp DE Sells 154,676 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Bank of America Corp DE reduced its stake in shares of Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 61.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,350 shares of the company's stock after selling 154,676 shares during the quarter. Bank of America Corp DE owned 0.17% of Molina Healthcare worth $27,752,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Molina Healthcare in the 4th quarter valued at $134,675,000. FMR LLC raised its stake in shares of Molina Healthcare by 31.1% in the 4th quarter. FMR LLC now owns 1,801,113 shares of the company's stock valued at $524,214,000 after buying an additional 427,276 shares in the last quarter. Invesco Ltd. raised its stake in shares of Molina Healthcare by 28.5% in the 4th quarter. Invesco Ltd. now owns 1,327,021 shares of the company's stock valued at $386,229,000 after buying an additional 294,180 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Molina Healthcare by 7.4% in the 4th quarter. Wellington Management Group LLP now owns 2,632,232 shares of the company's stock valued at $766,111,000 after buying an additional 181,073 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in shares of Molina Healthcare by 166.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 196,513 shares of the company's stock valued at $57,195,000 after buying an additional 122,674 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, 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 transaction, the director now directly owns 11,244 shares in the company, valued at approximately $3,603,702. This represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph M. Zubretsky sold 87,500 shares of the company's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $320.06, for a total transaction of $28,005,250.00. Following the transaction, the chief executive officer now owns 257,715 shares in the company, valued at approximately $82,484,262.90. The trade was a 25.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,169 shares of company stock worth $28,520,995. Company insiders own 1.26% of the company's stock.

Analyst Upgrades and Downgrades

MOH has been the topic of several analyst reports. Truist Financial upped their target price on shares of Molina Healthcare from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Robert W. Baird reaffirmed a "neutral" rating and issued a $375.00 target price (up previously from $331.00) on shares of Molina Healthcare in a report on Tuesday, April 15th. UBS Group lowered their target price on shares of Molina Healthcare from $374.00 to $325.00 and set a "neutral" rating on the stock in a report on Friday, February 7th. Wells Fargo & Company raised shares of Molina Healthcare from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $295.00 to $372.00 in a report on Wednesday, March 5th. Finally, Barclays upped their target price on shares of Molina Healthcare from $339.00 to $362.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $365.38.

Molina Healthcare Price Performance

NYSE:MOH traded down $4.94 during mid-day trading on Friday, reaching $304.83. 579,500 shares of the company were exchanged, compared to its average volume of 692,574. Molina Healthcare, Inc. has a 12 month low of $262.32 and a 12 month high of $365.23. The company has a fifty day moving average of $324.45 and a 200 day moving average of $308.09. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69. The stock has a market cap of $16.52 billion, a PE ratio of 14.92, a PEG ratio of 1.06 and a beta of 0.63.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its quarterly earnings data 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 company's revenue was up 12.2% on a year-over-year basis. On average, research analysts anticipate that Molina Healthcare, Inc. will post 24.4 EPS for the current fiscal year.

Molina Healthcare Profile

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.