Molina Healthcare, Inc (NYSE:MOH) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its holdings in Molina Healthcare by 4.2% in the first quarter, now owning 1,271,815 shares valued at approximately $418.9 million.
• Analysts have recently cut their target prices for Molina Healthcare, with JPMorgan Chase and UBS Group lowering their targets substantially, indicating a shift in market sentiment.
• Molina Healthcare reported Q2 earnings of $5.48 per share, just below estimates, but saw a year-over-year revenue increase of 15.7%, totaling $11.43 billion.

Invesco Ltd. lessened its position in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 4.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,271,815 shares of the company's stock after selling 55,206 shares during the period. Invesco Ltd. owned 2.35% of Molina Healthcare worth $418,923,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Covestor Ltd grew its holdings in Molina Healthcare by 13.9% in the 1st quarter. Covestor Ltd now owns 531 shares of the company's stock worth $175,000 after acquiring an additional 65 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in Molina Healthcare in the 1st quarter worth $213,000. Cynosure Group LLC grew its holdings in Molina Healthcare by 14.6% in the 1st quarter. Cynosure Group LLC now owns 1,112 shares of the company's stock worth $366,000 after acquiring an additional 142 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Molina Healthcare in the 1st quarter worth $29,000. Finally, National Bank of Canada FI grew its holdings in Molina Healthcare by 1.5% in the 1st quarter. National Bank of Canada FI now owns 27,186 shares of the company's stock worth $8,955,000 after acquiring an additional 396 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Molina Healthcare Trading Up 2.5%

Shares of MOH traded up $3.89 during midday trading on Wednesday, hitting $161.20. The stock had a trading volume of 1,313,426 shares, compared to its average volume of 2,322,770. Molina Healthcare, Inc has a 1 year low of $151.95 and a 1 year high of $365.23. The firm has a market cap of $8.74 billion, a PE ratio of 7.94 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.66. The stock's 50 day moving average is $228.53 and its 200 day moving average is $283.95.

Molina Healthcare (NYSE:MOH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $5.48 EPS for the quarter, missing analysts' consensus estimates of $5.50 by ($0.02). The company had revenue of $11.43 billion during 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 company's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.86 earnings per share. As a group, analysts forecast that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

Analyst Ratings Changes

MOH has been the topic of a number of recent analyst reports. Robert W. Baird cut their price target on shares of Molina Healthcare from $373.00 to $179.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $210.00 target price (down previously from $312.00) on shares of Molina Healthcare in a research note on Friday, July 25th. Truist Financial reaffirmed a "hold" rating and set a $180.00 target price (down previously from $335.00) on shares of Molina Healthcare in a research note on Friday, July 25th. Sanford C. Bernstein initiated coverage on shares of Molina Healthcare in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $414.00 target price on the stock. Finally, Wells Fargo & Company cut their target price on shares of Molina Healthcare from $372.00 to $216.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $244.55.

Insider Activity

In related news, COO James Woys bought 10,000 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was bought at an average cost of $155.94 per share, for a total transaction 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. This trade represents a 15.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronna Romney sold 700 shares of Molina Healthcare stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total transaction of $107,618.00. Following the completion of the sale, the director owned 17,131 shares of the company's stock, valued at $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 corporate insiders.

Molina Healthcare 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.