Mitsubishi UFJ Asset Management Co. Ltd. Purchases 10,460 Shares of Molina Healthcare, Inc (NYSE:MOH)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Molina Healthcare by 11.8%, acquiring an additional 10,460 shares to own a total of 99,401 shares, valued at approximately $32.74 million.
• Molina Healthcare recently reported its quarterly earnings, which included a net revenue of $11.43 billion, exceeding analysts’ expectations, despite missing the earnings per share estimate.
• Various research firms have lowered their price targets for Molina Healthcare, with the consensus target now at $244.55, while most analysts rate the stock as a hold.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 11.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,401 shares of the company's stock after acquiring an additional 10,460 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.18% of Molina Healthcare worth $32,742,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC grew its holdings in shares of Molina Healthcare by 7.1% in the first quarter. Chicago Partners Investment Group LLC now owns 1,462 shares of the company's stock worth $478,000 after acquiring an additional 97 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Molina Healthcare by 4.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 416,241 shares of the company's stock valued at $137,106,000 after purchasing an additional 16,161 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in Molina Healthcare during the first quarter valued at about $436,000. Earned Wealth Advisors LLC bought a new stake in Molina Healthcare during the first quarter valued at about $276,000. Finally, PNC Financial Services Group Inc. grew its holdings in Molina Healthcare by 49.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,923 shares of the company's stock valued at $1,622,000 after purchasing an additional 1,622 shares during the period. Institutional investors own 98.50% of the company's stock.

Molina Healthcare Price Performance

Shares of Molina Healthcare stock opened at $156.87 on Friday. The stock's 50-day simple moving average is $236.76 and its 200-day simple moving average is $286.88. Molina Healthcare, Inc has a 52 week low of $151.95 and a 52 week high of $365.23. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of 7.73 and a beta of 0.52. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.77.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $5.48 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $10.94 billion. During the same quarter in the previous year, the firm earned $5.86 earnings per share. Molina Healthcare's revenue was up 15.7% on a year-over-year basis. As a group, analysts expect that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MOH. Wall Street Zen lowered Molina Healthcare from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. JPMorgan Chase & Co. cut their price target on Molina Healthcare from $272.00 to $184.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Sanford C. Bernstein began coverage on Molina Healthcare in a report on Tuesday, April 22nd. They set an "outperform" rating and a $414.00 price target for the company. Wells Fargo & Company cut their price target on Molina Healthcare from $372.00 to $216.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Finally, Baird R W lowered Molina Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Molina Healthcare currently has an average rating of "Hold" and a consensus target price of $244.55.

Insider Transactions at Molina Healthcare

In other news, COO James Woys bought 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were bought at an average cost of $155.94 per share, for a total transaction of $1,559,400.00. Following the completion of the transaction, the chief operating officer owned 74,331 shares of the company's stock, valued at approximately $11,591,176.14. This represents a 15.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ronna Romney sold 700 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total value of $107,618.00. Following the completion of the sale, the director owned 17,131 shares in the company, valued at $2,633,719.94. This 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 currently owned by insiders.

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.

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