Evolve Private Wealth LLC Invests $1.17 Million in Molina Healthcare, Inc $MOH

Key Points

• Evolve Private Wealth LLC initiated a $1.17 million position in Molina Healthcare during the second quarter by purchasing 5,098 shares. Institutional investors collectively own 98.5% of the company’s stock.
• Analysts maintain a consensus “Hold” rating on MOH, with an average price target of $202.44; ratings include one Strong Buy, three Buys, eleven Holds, and two Sells.
• Molina’s latest quarterly results exceeded expectations, with EPS of $1.51 versus the $1.39 consensus and revenue of $10.87 billion. However, revenue declined 4.8% year over year, and the company reported a nearly breakeven net margin.

Evolve Private Wealth LLC bought a new stake in Molina Healthcare, Inc (NYSE:MOH - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 5,098 shares of the company's stock, valued at approximately $1,166,000.

A number of other hedge funds have also recently added to or reduced their stakes in MOH. Baird Financial Group Inc. purchased a new stake in shares of Molina Healthcare during the 1st quarter worth about $210,000. NewEdge Advisors LLC boosted its position in Molina Healthcare by 33.4% during the first quarter. NewEdge Advisors LLC now owns 1,106 shares of the company's stock worth $364,000 after purchasing an additional 277 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in Molina Healthcare by 713.3% in the first quarter. Jones Financial Companies Lllp now owns 1,651 shares of the company's stock valued at $544,000 after purchasing an additional 1,448 shares during the period. Goldman Sachs Group Inc. grew its holdings in Molina Healthcare by 19.4% in the first quarter. Goldman Sachs Group Inc. now owns 249,466 shares of the company's stock valued at $82,172,000 after purchasing an additional 40,531 shares during the period. Finally, Woodline Partners LP purchased a new stake in shares of Molina Healthcare in the first quarter valued at approximately $1,541,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MOH shares. Morgan Stanley lifted their target price 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. Sanford C. Bernstein set a $286.00 price target on shares of Molina Healthcare in a research note on Monday, July 13th. Wall Street Zen upgraded Molina Healthcare from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Wells Fargo & Company dropped their target price on shares of Molina Healthcare from $235.00 to $220.00 and set an "equal weight" rating for the company in a report on Tuesday, July 28th. Finally, Bank of America raised Molina Healthcare from an "underperform" rating to a "buy" rating and set a $250.00 price target for the company in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Molina Healthcare currently has a consensus rating of "Hold" and a consensus target price of $202.44.

Molina Healthcare Stock Performance

Shares of MOH stock opened at $200.63 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market cap of $10.47 billion, a P/E ratio of -1,114.55, a P/E/G ratio of 28.70 and a beta of 0.75. The firm's 50 day moving average price is $211.25 and its 200-day moving average price is $178.56. Molina Healthcare, Inc has a one year low of $121.06 and a one year high of $244.89.

Molina Healthcare (NYSE:MOH - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.83 billion. During the same quarter last year, the firm earned $5.48 EPS. The firm's revenue for the quarter was down 4.8% on a year-over-year basis. As a group, equities research analysts predict that Molina Healthcare, Inc will post 5.29 EPS for the current 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.

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