Empowered Funds LLC Cuts Position in Molina Healthcare, Inc $MOH

Key Points

• Empowered Funds LLC reduced its stake in Molina Healthcare by 44.2%, bringing its ownership down to 37,298 shares valued at approximately $12.3 million.
• Several large investors increased their positions in Molina Healthcare, including Ethic Inc., which boosted its holdings by 68.2%, and Focus Partners Wealth, which increased its stake by 224.7%.
• Analysts have lowered Molina Healthcare's price targets, with Robert W. Baird cutting the target from $373.00 to $179.00 and Morgan Stanley from $364.00 to $266.00, indicating tenuous market sentiment.

Empowered Funds LLC cut its position in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 44.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,298 shares of the company's stock after selling 29,602 shares during the quarter. Empowered Funds LLC owned approximately 0.07% of Molina Healthcare worth $12,286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Amalgamated Bank grew its position in Molina Healthcare by 0.3% during the 1st quarter. Amalgamated Bank now owns 11,580 shares of the company's stock worth $3,814,000 after acquiring an additional 33 shares during the last quarter. Deseret Mutual Benefit Administrators grew its position in Molina Healthcare by 60.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 90 shares of the company's stock worth $30,000 after acquiring an additional 34 shares during the last quarter. JLB & Associates Inc. grew its position in Molina Healthcare by 0.3% during the 1st quarter. JLB & Associates Inc. now owns 10,626 shares of the company's stock worth $3,500,000 after acquiring an additional 36 shares during the last quarter. PenderFund Capital Management Ltd. grew its position in Molina Healthcare by 0.4% during the 1st quarter. PenderFund Capital Management Ltd. now owns 10,071 shares of the company's stock worth $3,317,000 after acquiring an additional 40 shares during the last quarter. Finally, Rothschild Investment LLC grew its position in Molina Healthcare by 126.3% during the 1st quarter. Rothschild Investment LLC now owns 86 shares of the company's stock worth $28,000 after acquiring an additional 48 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Molina Healthcare

In other news, COO James Woys acquired 10,000 shares of Molina Healthcare stock in a transaction on Monday, August 4th. The shares were bought at an average cost of $155.94 per share, for a total transaction of $1,559,400.00. Following the acquisition, the chief operating officer directly owned 74,331 shares of the company's stock, valued at $11,591,176.14. This trade represents a 15.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronna Romney sold 700 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total value of $107,618.00. Following the transaction, the director owned 17,131 shares in the company, valued at $2,633,719.94. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on MOH. UBS Group reduced their price target on Molina Healthcare from $260.00 to $180.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Truist Financial reaffirmed a "hold" rating and issued a $180.00 price objective (down previously from $335.00) on shares of Molina Healthcare in a report on Friday, July 25th. Robert W. Baird cut their price target on Molina Healthcare from $373.00 to $179.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Wells Fargo & Company dropped their price objective on Molina Healthcare from $216.00 to $198.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Finally, Mizuho decreased their price objective on Molina Healthcare from $400.00 to $330.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Molina Healthcare presently has an average rating of "Hold" and a consensus price target of $225.18.

Molina Healthcare Trading Down 4.2%

MOH traded down $7.85 during trading hours on Friday, reaching $180.59. 1,011,293 shares of the company's stock traded hands, compared to its average volume of 1,448,624. The firm has a 50-day moving average price of $179.44 and a 200 day moving average price of $266.19. Molina Healthcare, Inc has a 52-week low of $151.95 and a 52-week high of $365.23. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $9.79 billion, a PE ratio of 8.90 and a beta of 0.54.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $5.48 EPS for the quarter, missing the consensus estimate of $5.50 by ($0.02). The firm had revenue of $11.43 billion for the quarter, compared to analysts' expectations of $10.94 billion. Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%.The company's revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.86 earnings per share. As a group, sell-side analysts predict 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.