Corient Private Wealth LP Makes New $2.70 Million Investment in Molina Healthcare, Inc $MOH

Key Points

• Corient Private Wealth LP acquired 11,823 shares of Molina Healthcare in the second quarter, valued at approximately $2.70 million. Institutional investors collectively own 98.5% of the company.
• Molina reported quarterly earnings of $1.51 per share, beating analyst expectations of $1.39, while revenue reached $10.87 billion. However, revenue declined 4.8% year over year and the company posted a slightly negative net margin.
• Analyst sentiment remains cautious, with 12 Hold, three Buy, and two Sell ratings; the stock’s consensus rating is Hold with an average price target of $202.44.

Corient Private Wealth LP acquired a new stake in Molina Healthcare, Inc (NYSE:MOH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 11,823 shares of the company's stock, valued at approximately $2,704,000.

A number of other hedge funds have also recently modified their holdings of the stock. Physician Wealth Advisors Inc. boosted its position in Molina Healthcare by 1,250.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 216 shares of the company's stock worth $29,000 after purchasing an additional 200 shares in the last quarter. Quarry LP purchased a new position in shares of Molina Healthcare during the 4th quarter valued at approximately $32,000. SJS Investment Consulting Inc. lifted its stake in shares of Molina Healthcare by 504.9% in the 1st 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 lifted its stake in shares of 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 during the period. Finally, Triumph Capital Management boosted its holdings in Molina Healthcare by 4,625.0% during the fourth quarter. Triumph Capital Management now owns 189 shares of the company's stock worth $33,000 after buying an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Molina Healthcare Stock Up 2.3%

MOH stock opened at $203.43 on Wednesday. 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. The firm has a 50-day simple moving average of $211.65 and a 200-day simple moving average of $181.09. The stock has a market capitalization of $10.62 billion, a P/E ratio of -1,130.10, a P/E/G ratio of 28.49 and a beta of 0.75.

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

Analyst Ratings Changes

MOH has been the subject of a number of recent analyst reports. TD Cowen lifted their price objective on shares of Molina Healthcare from $163.00 to $230.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. Sanford C. Bernstein set a $286.00 target price on Molina Healthcare in a research report on Monday, July 13th. Wells Fargo & Company cut their price target on Molina Healthcare from $235.00 to $220.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 28th. Truist Financial reduced their price target on Molina Healthcare from $250.00 to $225.00 and set a "hold" rating for the company in a report on Friday, July 24th. Finally, Jefferies Financial Group set a $230.00 price target on Molina Healthcare in a research report on Tuesday, July 14th. Three equities research 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. According to MarketBeat, Molina Healthcare presently has an average rating of "Hold" and an average price target of $202.44.

About Molina Healthcare

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