Bank of New York Mellon Corp Sells 16,034 Shares of Molina Healthcare, Inc (NYSE:MOH)

Bank of New York Mellon Corp decreased its holdings in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 336,154 shares of the company's stock after selling 16,034 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.61% of Molina Healthcare worth $110,726,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Molina Healthcare by 100.3% during the first quarter. Farther Finance Advisors LLC now owns 659 shares of the company's stock worth $216,000 after purchasing an additional 330 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Molina Healthcare in the first quarter valued at $2,759,000. Raymond James Financial Inc. acquired a new stake in Molina Healthcare in the fourth quarter valued at $10,725,000. Robeco Institutional Asset Management B.V. acquired a new stake in Molina Healthcare in the first quarter valued at $1,070,000. Finally, US Bancorp DE lifted its stake in 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 acquiring an additional 364 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Molina Healthcare Stock Performance

NYSE:MOH traded down $7.58 during mid-day trading on Friday, reaching $221.00. 1,445,598 shares of the company's stock were exchanged, compared to its average volume of 718,903. Molina Healthcare, Inc has a one year low of $219.72 and a one year high of $365.23. The firm has a market capitalization of $11.98 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 0.93 and a beta of 0.55. The business's fifty day simple moving average is $293.27 and its two-hundred day simple moving average is $303.36. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.63 and a current ratio of 1.63.

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, topping analysts' consensus estimates of $5.96 by $0.12. Molina Healthcare had a net margin of 2.81% and a return on equity of 28.38%. The business had revenue of $11.15 billion for the quarter, compared to analyst estimates of $10.86 billion. During the same period last year, the firm earned $5.73 earnings per share. Molina Healthcare's revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts anticipate that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Insider Activity

In other Molina Healthcare news, CEO Joseph M. Zubretsky sold 87,500 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $320.06, for a total value of $28,005,250.00. Following the transaction, the chief executive officer directly owned 257,715 shares of the company's stock, valued at $82,484,262.90. This trade represents a 25.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard M. Schapiro sold 669 shares of the firm'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 approximately $3,603,702. This represents a 5.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on MOH. Truist Financial increased their price target 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. Guggenheim began coverage on shares of Molina Healthcare in a research note on Wednesday, April 9th. They issued a "neutral" rating for the company. Barclays cut their price target on shares of Molina Healthcare from $351.00 to $347.00 and set an "equal weight" rating for the company in a research note on Monday, June 9th. 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. Finally, Wall Street Zen cut shares of Molina Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $352.21.

Molina Healthcare Company 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.