Federated Hermes Inc. Sells 31,902 Shares of Molina Healthcare, Inc (NYSE:MOH)

Key Points

• Federated Hermes Inc. reduced its position in Molina Healthcare by 64.9%, owning 17,219 shares after selling 31,902 shares in the first quarter.
• Molina Healthcare's stock is currently valued at $157.84, having seen a 1.7% increase during recent trading sessions.
• Several analysts have revised their price targets for Molina Healthcare, with UBS lowering the target from $260 to $180 and others following suit, impacting the overall ratings.

Federated Hermes Inc. lowered its stake in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 64.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 17,219 shares of the company's stock after selling 31,902 shares during the quarter. Federated Hermes Inc.'s holdings in Molina Healthcare were worth $5,672,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in Molina Healthcare by 449.3% in the 1st quarter. Meeder Asset Management Inc. now owns 17,775 shares of the company's stock valued at $5,855,000 after purchasing an additional 14,539 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Molina Healthcare by 7.3% during the 1st quarter. Mackenzie Financial Corp now owns 8,375 shares of the company's stock worth $2,759,000 after buying an additional 568 shares during the period. First National Advisers LLC bought a new stake in Molina Healthcare during the 1st quarter worth about $402,000. LPL Financial LLC boosted its stake in shares of Molina Healthcare by 69.6% during the 1st quarter. LPL Financial LLC now owns 30,463 shares of the company's stock worth $10,034,000 after buying an additional 12,503 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Molina Healthcare by 5.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,623 shares of the company's stock valued at $7,122,000 after buying an additional 1,118 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Molina Healthcare Stock Up 2.1%

Molina Healthcare stock traded up $3.16 during mid-day trading on Thursday, hitting $155.47. 848,001 shares of the company's stock were exchanged, compared to its average volume of 953,918. Molina Healthcare, Inc has a 1-year low of $151.95 and a 1-year high of $365.23. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average of $242.67 and a two-hundred day moving average of $288.85. The stock has a market cap of $8.43 billion, a P/E ratio of 7.67 and a beta of 0.52.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.50 by ($0.02). The company had revenue of $11.43 billion for the quarter, compared to the consensus estimate of $10.94 billion. Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%. The firm's revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $5.86 earnings per share. As a group, analysts anticipate that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MOH shares. Guggenheim began coverage on Molina Healthcare in a report on Wednesday, April 9th. They set a "neutral" rating on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $210.00 price target (down from $312.00) on shares of Molina Healthcare in a report on Friday, July 25th. Sanford C. Bernstein began coverage on shares of Molina Healthcare in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $414.00 price objective for the company. Wall Street Zen cut shares of Molina Healthcare from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Finally, Morgan Stanley lowered Molina Healthcare from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $364.00 to $266.00 in a research note on Thursday, July 10th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Molina Healthcare currently has an average rating of "Hold" and a consensus target price of $244.55.

Insiders Place Their Bets

In other Molina Healthcare news, COO James Woys purchased 10,000 shares of the stock in a transaction on Monday, August 4th. The shares were bought at an average price of $155.94 per share, for a total transaction of $1,559,400.00. Following the completion of the transaction, the chief operating officer 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 transaction was disclosed in a document filed with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Molina Healthcare Company 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.