Kentucky Retirement Systems Insurance Trust Fund Makes New Investment in Molina Healthcare, Inc (NYSE:MOH)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,648 shares of the company's stock, valued at approximately $543,000.

Other hedge funds have also bought and sold shares of the company. Rothschild Investment LLC raised its stake in shares of Molina Healthcare by 126.3% during the 1st quarter. Rothschild Investment LLC now owns 86 shares of the company's stock worth $28,000 after purchasing an additional 48 shares during the period. Colonial Trust Co SC raised its position in Molina Healthcare by 930.0% in the fourth quarter. Colonial Trust Co SC now owns 103 shares of the company's stock worth $30,000 after acquiring an additional 93 shares during the period. Silver Oak Securities Incorporated purchased a new position in Molina Healthcare in the first quarter valued at about $34,000. Hurley Capital LLC bought a new position in shares of Molina Healthcare during the 4th quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Molina Healthcare by 81.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 196 shares of the company's stock worth $57,000 after purchasing an additional 88 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Molina Healthcare Price Performance

Shares of MOH stock traded down $0.59 during trading on Wednesday, hitting $293.92. The company had a trading volume of 364,482 shares, compared to its average volume of 689,226. The stock's 50-day moving average is $309.44 and its two-hundred day moving average is $306.83. The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 0.98 and a beta of 0.56. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. Molina Healthcare, Inc has a 52 week low of $262.32 and a 52 week high of $365.23.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $6.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.96 by $0.12. The business had revenue of $11.15 billion during the quarter, compared to analyst estimates of $10.86 billion. Molina Healthcare had a return on equity of 28.38% and a net margin of 2.81%. Molina Healthcare's revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.73 earnings per share. As a group, analysts predict that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MOH shares. Wall Street Zen upgraded Molina Healthcare from a "hold" rating to a "buy" rating in a research note on Saturday. Truist Financial boosted their target price on Molina Healthcare from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Guggenheim initiated coverage on Molina Healthcare in a research note on Wednesday, April 9th. They set a "neutral" rating for the company. Wells Fargo & Company raised Molina Healthcare from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $295.00 to $372.00 in a report on Wednesday, March 5th. Finally, Sanford C. Bernstein initiated coverage on Molina Healthcare in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $414.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $364.21.

Insider Activity

In other news, Director Richard M. Schapiro sold 669 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $320.50, for a total transaction of $214,414.50. Following the transaction, the director now directly owns 11,244 shares of the company's stock, valued at approximately $3,603,702. This trade represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Joseph M. Zubretsky sold 87,500 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $320.06, for a total value of $28,005,250.00. Following the completion of the sale, the chief executive officer now directly owns 257,715 shares of the company's stock, valued at approximately $82,484,262.90. This trade represents a 25.35% decrease in their position. The disclosure for this sale can be found here. 1.26% of the stock is owned by corporate insiders.

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.