Cibc World Market Inc. Makes New Investment in Molina Healthcare, Inc $MOH

Key Points

• CIBC World Market Inc. acquired 7,516 shares of Molina Healthcare during the second quarter, valued at approximately $1.72 million. Institutional investors collectively own 98.5% of the company.
• Analyst sentiment remains cautious: Molina has an average rating of “Hold” from 17 analysts, with a consensus price target of $202.44.
• Molina’s latest quarterly results exceeded expectations, reporting $1.51 in earnings per share and $10.87 billion in revenue, although revenue declined 4.8% year over year.

Cibc World Market Inc. acquired a new position in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,516 shares of the company's stock, valued at approximately $1,719,000.

Several other institutional investors and hedge funds have also bought and sold shares of MOH. Torren Management LLC bought a new position in shares of Molina Healthcare during the 4th quarter worth about $26,000. Physician Wealth Advisors Inc. grew its stake in shares of Molina Healthcare by 1,250.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 216 shares of the company's stock valued at $29,000 after buying an additional 200 shares during the period. Quarry LP bought a new stake in Molina Healthcare in the 4th quarter valued at about $32,000. Triumph Capital Management increased its position in Molina Healthcare by 4,625.0% in the 4th quarter. Triumph Capital Management now owns 189 shares of the company's stock valued at $33,000 after buying an additional 185 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in Molina Healthcare by 504.9% during the 1st quarter. SJS Investment Consulting Inc. now owns 248 shares of the company's stock worth $33,000 after buying an additional 207 shares during the period. 98.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MOH shares. Zacks Research lowered Molina Healthcare from a "strong-buy" rating to a "hold" rating in a report on Friday, August 21st. Wells Fargo & Company lowered their target price on Molina Healthcare from $235.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 28th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Molina Healthcare in a report on Friday, July 24th. Morgan Stanley lifted their price target on shares of Molina Healthcare from $146.00 to $167.00 and gave the company an "equal weight" rating in a research report on Thursday, June 4th. Finally, Truist Financial decreased their price target on shares of Molina Healthcare from $250.00 to $225.00 and set a "hold" rating for the company in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $202.44.

Molina Healthcare Price Performance

MOH stock opened at $198.97 on Friday. The company has a market capitalization of $10.39 billion, a P/E ratio of -1,105.33, a price-to-earnings-growth ratio of 29.01 and a beta of 0.75. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.68 and a current ratio of 1.68. Molina Healthcare, Inc has a 52-week low of $121.06 and a 52-week high of $244.89. The business has a 50-day simple moving average of $211.41 and a two-hundred day simple moving average of $179.49.

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

Molina Healthcare Company Profile

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source