GAMMA Investing LLC Buys 666,122 Shares of Molina Healthcare, Inc. (NYSE:MOH)

GAMMA Investing LLC grew its position in shares of Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 74,593.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 667,015 shares of the company's stock after purchasing an additional 666,122 shares during the period. GAMMA Investing LLC owned approximately 1.22% of Molina Healthcare worth $219,708,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Waldron Private Wealth LLC raised its stake in shares of Molina Healthcare by 4.7% during the fourth quarter. Waldron Private Wealth LLC now owns 729 shares of the company's stock valued at $212,000 after purchasing an additional 33 shares during the period. Angeles Investment Advisors LLC increased its stake in shares of Molina Healthcare by 5.4% in the fourth quarter. Angeles Investment Advisors LLC now owns 838 shares of the company's stock worth $244,000 after buying an additional 43 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Molina Healthcare by 2.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 2,346 shares of the company's stock worth $683,000 after buying an additional 48 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Molina Healthcare by 38.5% in the fourth quarter. Lindbrook Capital LLC now owns 205 shares of the company's stock worth $60,000 after purchasing an additional 57 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC boosted its holdings in Molina Healthcare by 7.1% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 877 shares of the company's stock worth $255,000 after purchasing an additional 58 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Molina Healthcare Price Performance

Molina Healthcare stock traded up $0.32 during midday trading on Thursday, hitting $292.93. The company's stock had a trading volume of 441,722 shares, compared to its average volume of 684,948. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69. The stock's 50-day moving average price is $321.15 and its 200-day moving average price is $307.10. Molina Healthcare, Inc. has a 12 month low of $262.32 and a 12 month high of $365.23. The company has a market capitalization of $15.88 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.06 and a beta of 0.63.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 EPS for the quarter, topping the consensus estimate of $5.96 by $0.12. The firm had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $10.86 billion. Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. Molina Healthcare's revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $5.73 earnings per share. Analysts anticipate that Molina Healthcare, Inc. will post 24.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Molina Healthcare news, CEO Joseph M. Zubretsky sold 87,500 shares of the business's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total transaction of $28,005,250.00. Following the sale, the chief executive officer now owns 257,715 shares in the company, valued at approximately $82,484,262.90. The trade was a 25.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard M. Schapiro sold 669 shares of Molina Healthcare stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $320.50, for a total value of $214,414.50. Following the transaction, the director now directly owns 11,244 shares in the company, valued at approximately $3,603,702. This trade represents a 5.62% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MOH shares. UBS Group decreased their price objective on shares of Molina Healthcare from $374.00 to $325.00 and set a "neutral" rating for the company in a report on Friday, February 7th. Guggenheim assumed coverage on shares of Molina Healthcare in a report on Wednesday, April 9th. They issued a "neutral" rating for the company. Truist Financial boosted their price target on shares of Molina Healthcare from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, April 11th. Mizuho lifted their price objective on shares of Molina Healthcare from $376.00 to $400.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Finally, Stephens restated an "equal weight" rating and set a $345.00 price objective on shares of Molina Healthcare in a research note on Thursday, February 6th. Nine analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $364.54.

About Molina Healthcare

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.