California State Teachers Retirement System Increases Stake in Molina Healthcare, Inc $MOH

Key Points

• California State Teachers Retirement System increased its Molina Healthcare stake by 23,008.3% in the second quarter, holding 13.8 million shares worth approximately $3.16 billion, or 26.47% of the company.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $202.44. Recent target changes ranged from $202 to $220, while Zacks downgraded the stock to “Hold.”
• Molina reported quarterly earnings of $1.51 per share, beating estimates of $1.39, and revenue of $10.87 billion. However, revenue declined 4.8% year over year, and analysts expect full-year earnings of $5.29 per share.

California State Teachers Retirement System raised its position in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 23,008.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 13,816,682 shares of the company's stock after acquiring an additional 13,756,891 shares during the period. California State Teachers Retirement System owned approximately 26.47% of Molina Healthcare worth $3,159,875,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Physician Wealth Advisors Inc. increased its stake in shares of Molina Healthcare by 1,250.0% during the first quarter. Physician Wealth Advisors Inc. now owns 216 shares of the company's stock worth $29,000 after acquiring an additional 200 shares during the period. Quarry LP purchased a new position in Molina Healthcare during the fourth quarter worth about $32,000. SJS Investment Consulting Inc. lifted its position in Molina Healthcare by 504.9% in the first quarter. SJS Investment Consulting Inc. now owns 248 shares of the company's stock valued at $33,000 after purchasing an additional 207 shares during the period. Elevation Wealth Partners LLC boosted its holdings in Molina Healthcare by 118.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 144 shares of the company's stock valued at $33,000 after purchasing an additional 78 shares in the last quarter. Finally, Triumph Capital Management increased its position in Molina Healthcare by 4,625.0% during the 4th quarter. Triumph Capital Management now owns 189 shares of the company's stock worth $33,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 21st. Royal Bank Of Canada decreased their price target on Molina Healthcare from $248.00 to $218.00 and set a "sector perform" rating on the stock in a research note on Friday, July 24th. UBS Group lifted their price target on Molina Healthcare from $180.00 to $202.00 and gave the company a "neutral" rating in a research note on Friday, May 22nd. Mizuho set a $215.00 price objective on Molina Healthcare in a report on Monday, June 8th. Finally, Wells Fargo & Company cut their price objective on Molina Healthcare from $235.00 to $220.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $202.44.

Molina Healthcare Price Performance

Shares of NYSE:MOH opened at $200.49 on Friday. The company has a market cap of $10.47 billion, a P/E ratio of -1,113.77, a P/E/G ratio of 27.82 and a beta of 0.75. The business has a fifty day simple moving average of $208.26 and a 200-day simple moving average of $184.07. Molina Healthcare, Inc has a 52 week low of $121.06 and a 52 week high of $244.89. 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 (NYSE:MOH - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.12. Molina Healthcare had a positive return on equity of 3.73% and a negative net margin of 0.02%.The firm had revenue of $10.87 billion for the quarter, compared to the consensus estimate of $10.83 billion. During the same period in the prior year, the business posted $5.48 earnings per share. The firm's revenue for the quarter was down 4.8% compared to the same quarter last year. Equities research analysts forecast that Molina Healthcare, Inc will post 5.29 EPS for the current year.

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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