Gateway Investment Advisers LLC Sells 1,566 Shares of Molina Healthcare, Inc $MOH

Key Points

• Gateway Investment Advisers LLC sold 1,566 shares of Molina Healthcare, reducing its holdings by 8.3%, leaving them with 17,199 shares valued at approximately $5.12 million.
• A series of analyst ratings have recently downgraded Molina Healthcare, with JPMorgan lowering the target price from $272 to $184 and several others adjusting their rating to "hold."
• In insider activity, COO James Woys purchased 10,000 shares while Director Ronna Romney sold 700 shares, indicating mixed signals from company leadership.

Gateway Investment Advisers LLC reduced its position in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,199 shares of the company's stock after selling 1,566 shares during the quarter. Gateway Investment Advisers LLC's holdings in Molina Healthcare were worth $5,124,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MOH. Nomura Holdings Inc. purchased a new stake in shares of Molina Healthcare during the fourth quarter worth about $547,000. Rafferty Asset Management LLC increased its stake in shares of Molina Healthcare by 9.1% in the 4th quarter. Rafferty Asset Management LLC now owns 6,487 shares of the company's stock worth $1,888,000 after acquiring an additional 543 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Molina Healthcare by 18.3% in the 4th quarter. Royal Bank of Canada now owns 105,719 shares of the company's stock worth $30,770,000 after acquiring an additional 16,360 shares during the last quarter. Tidal Investments LLC increased its position in shares of Molina Healthcare by 19.8% during the 4th quarter. Tidal Investments LLC now owns 8,525 shares of the company's stock worth $2,481,000 after purchasing an additional 1,408 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in Molina Healthcare in the 4th quarter valued at about $44,099,000. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MOH. Barclays lowered their price objective on Molina Healthcare from $186.00 to $185.00 and set an "equal weight" rating for the company in a research report on Thursday, September 4th. Morgan Stanley cut 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. Truist Financial reiterated a "hold" rating and issued a $180.00 price objective (down previously from $335.00) on shares of Molina Healthcare in a research note on Friday, July 25th. Sanford C. Bernstein dropped their target price on Molina Healthcare from $284.00 to $220.00 and set an "outperform" rating on the stock in a report on Friday, September 5th. Finally, Wells Fargo & Company dropped their price objective on Molina Healthcare from $216.00 to $198.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $225.18.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, COO James Woys bought 10,000 shares of the business's stock in a transaction on Monday, August 4th. The shares were purchased at an average price of $155.94 per share, with a total value of $1,559,400.00. Following the purchase, the chief operating officer directly owned 74,331 shares of the company's stock, valued at approximately $11,591,176.14. The trade was a 15.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronna Romney sold 700 shares of Molina Healthcare stock in a transaction on Wednesday, August 6th. The shares were 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 approximately $2,633,719.94. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Molina Healthcare Stock Up 2.0%

Shares of MOH stock traded up $3.46 during trading hours on Thursday, reaching $179.78. The company had a trading volume of 732,997 shares, compared to its average volume of 1,274,026. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.66 and a current ratio of 1.66. Molina Healthcare, Inc has a twelve month low of $151.95 and a twelve month high of $359.97. The company has a market capitalization of $9.74 billion, a P/E ratio of 8.86 and a beta of 0.54. The stock's fifty day simple moving average is $175.03 and its 200 day simple moving average is $262.92.

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

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.