HighTower Advisors LLC Sells 28,588 Shares of Molina Healthcare, Inc $MOH

Key Points

• HighTower Advisors cut its Molina Healthcare stake by 84.9% in the second quarter, selling 28,588 shares and retaining 5,095 shares valued at approximately $1.17 million.
• Institutional ownership remains very high at 98.5%, with California State Teachers Retirement System significantly increasing its position and BlackRock initiating a stake during the quarter.
• Molina exceeded quarterly earnings expectations, reporting $1.51 in EPS versus $1.39 expected and $10.87 billion in revenue, but revenue declined 4.8% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $202.44.

HighTower Advisors LLC trimmed its position in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 84.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,095 shares of the company's stock after selling 28,588 shares during the period. HighTower Advisors LLC's holdings in Molina Healthcare were worth $1,165,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MOH. California State Teachers Retirement System boosted its holdings in shares of Molina Healthcare by 23,008.3% in the 2nd quarter. California State Teachers Retirement System now owns 13,816,682 shares of the company's stock valued at $3,159,875,000 after purchasing an additional 13,756,891 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Molina Healthcare during the 2nd quarter worth $1,503,052,000. 8 Knots Management LLC bought a new stake in shares of Molina Healthcare during the 4th quarter worth $198,942,000. Manning & Napier Advisors LLC acquired a new stake in Molina Healthcare in the second quarter valued at about $152,339,000. Finally, Maverick Capital Ltd. acquired a new stake in Molina Healthcare in the first quarter valued at about $86,081,000. 98.50% of the stock is owned by institutional investors.

Molina Healthcare Price Performance

MOH opened at $214.06 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.68 and a quick ratio of 1.68. The company has a market capitalization of $11.17 billion, a price-to-earnings ratio of -1,189.17, a P/E/G ratio of 29.27 and a beta of 0.75. Molina Healthcare, Inc has a 1 year low of $121.06 and a 1 year high of $244.89. The firm's fifty day moving average price is $207.49 and its two-hundred day moving average price is $184.86.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.12. Molina Healthcare had a positive return on equity of 3.73% and a negative net margin of 0.02%.The company had revenue of $10.87 billion for the quarter, compared to analysts' expectations of $10.83 billion. During the same period in the previous year, the business posted $5.48 EPS. The business's revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, analysts anticipate that Molina Healthcare, Inc will post 5.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MOH shares. Weiss Ratings upgraded Molina Healthcare from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday. 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 lowered shares of Molina Healthcare from a "hold" rating to a "sell" rating in a research report on Saturday, August 29th. Cantor Fitzgerald restated a "neutral" rating on shares of Molina Healthcare in a report on Friday, September 4th. Finally, TD Cowen increased their price objective on Molina Healthcare from $163.00 to $230.00 and gave the company a "hold" rating in a report on Tuesday, July 14th. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Molina Healthcare currently has an average rating of "Hold" and an average target price of $202.44.

Molina Healthcare Profile

Molina Healthcare, Inc is a managed care company that provides health insurance and related services through government-sponsored programs. Its primary lines of business include Medicaid, Medicare, and Affordable Care Act Marketplace plans, with a focus on serving low-income individuals, families, seniors, and people with complex medical needs.

The company offers health plans that coordinate medical, behavioral health, pharmacy, and other care services through contracted provider networks.

Want to see what other hedge funds are holding MOH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molina Healthcare, Inc (NYSE:MOH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.