Molina Healthcare, Inc $MOH Position Cut by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company has reduced its stake in Molina Healthcare, Inc by 4.1%, now owning approximately 0.10% of the company valued at $18.2 million.
• Several hedge funds, including Price T Rowe Associates, GAMMA Investing, and Voloridge Investment Management, have significantly increased their stakes in Molina Healthcare, indicating strong institutional interest.
• Wall Street analysts have generally lowered their target prices for Molina Healthcare, with the stock receiving a consensus rating of "Hold" and a target price of $242.91.

The Manufacturers Life Insurance Company trimmed its stake in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 4.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,287 shares of the company's stock after selling 2,350 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.10% of Molina Healthcare worth $18,211,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MOH. Price T Rowe Associates Inc. MD lifted its stake in Molina Healthcare by 46.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,838,043 shares of the company's stock valued at $1,264,214,000 after buying an additional 1,216,903 shares during the last quarter. GAMMA Investing LLC lifted its stake in Molina Healthcare by 74,593.7% in the first quarter. GAMMA Investing LLC now owns 667,015 shares of the company's stock valued at $219,708,000 after buying an additional 666,122 shares during the last quarter. Voloridge Investment Management LLC lifted its stake in Molina Healthcare by 1,641.3% in the fourth quarter. Voloridge Investment Management LLC now owns 409,807 shares of the company's stock valued at $119,274,000 after buying an additional 386,273 shares during the last quarter. Two Sigma Investments LP bought a new stake in Molina Healthcare in the fourth quarter valued at $44,099,000. Finally, Nuveen LLC bought a new stake in Molina Healthcare in the first quarter valued at $46,441,000. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MOH has been the topic of a number of recent research reports. Morgan Stanley cut Molina Healthcare from an "overweight" rating to an "equal weight" rating and cut their target price for the company from $364.00 to $266.00 in a research note on Thursday, July 10th. Robert W. Baird decreased their target price on shares of Molina Healthcare from $373.00 to $179.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Wells Fargo & Company decreased their target price on shares of Molina Healthcare from $216.00 to $198.00 and set an "overweight" rating for the company in a research report on Friday, August 15th. Truist Financial reiterated a "hold" rating and issued a $180.00 target price (down previously from $335.00) on shares of Molina Healthcare in a research report on Friday, July 25th. Finally, UBS Group decreased their target price on shares of Molina Healthcare from $260.00 to $180.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $242.91.

Insider Transactions at Molina Healthcare

In related news, Director Ronna Romney sold 700 shares of Molina Healthcare stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total transaction of $107,618.00. Following the transaction, the director directly owned 17,131 shares of the company's stock, valued at $2,633,719.94. The trade was a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO James Woys purchased 10,000 shares of the company's 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 in the company, valued at $11,591,176.14. This represents a 15.54% increase in their position. The disclosure for this purchase can be found here. 1.26% of the stock is owned by insiders.

Molina Healthcare Price Performance

NYSE:MOH opened at $183.66 on Wednesday. The business's 50-day moving average price is $194.93 and its 200 day moving average price is $272.00. The firm has a market cap of $9.95 billion, a P/E ratio of 9.05 and a beta of 0.54. Molina Healthcare, Inc has a 52-week low of $151.95 and a 52-week high of $365.23. 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 released its earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.50 by ($0.02). The firm had revenue of $11.43 billion for the quarter, compared to analyst estimates of $10.94 billion. Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%.Molina Healthcare's revenue was up 15.7% on a year-over-year basis. During the same period in the previous year, the firm earned $5.86 earnings per share. As a group, sell-side analysts predict that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

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.

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