Molina Healthcare, Inc $MOH Shares Sold by Bank of America Corp DE

Key Points

• Bank of America cut its Molina Healthcare stake by 38.8% in the first quarter, selling 237,484 shares and retaining 374,656 shares valued at approximately $49.9 million.
• Other institutions increased their positions, including South Dakota Investment Council, Amundi, EverSource Wealth Advisors and California State Teachers’ Retirement System. Institutional investors and hedge funds collectively own 98.5% of MOH.
• Molina reported quarterly EPS of $1.51, beating estimates of $1.39, while revenue of $10.87 billion slightly exceeded expectations but declined 4.8% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $202.44.

Bank of America Corp DE lessened its stake in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 38.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 374,656 shares of the company's stock after selling 237,484 shares during the quarter. Bank of America Corp DE owned 0.72% of Molina Healthcare worth $49,942,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MOH. Bull Harbor Capital LLC acquired a new position in shares of Molina Healthcare in the 1st quarter worth approximately $919,000. South Dakota Investment Council grew its stake in shares of Molina Healthcare by 62.9% in the first quarter. South Dakota Investment Council now owns 168,307 shares of the company's stock valued at $22,435,000 after buying an additional 64,985 shares in the last quarter. Amundi raised its holdings in shares of Molina Healthcare by 5.6% in the 1st quarter. Amundi now owns 184,765 shares of the company's stock valued at $24,629,000 after buying an additional 9,786 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Molina Healthcare by 437.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,199 shares of the company's stock valued at $426,000 after buying an additional 2,604 shares during the period. Finally, California State Teachers Retirement System lifted its stake in Molina Healthcare by 17.1% during the 1st quarter. California State Teachers Retirement System now owns 59,791 shares of the company's stock worth $7,970,000 after acquiring an additional 8,723 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Molina Healthcare Price Performance

MOH stock opened at $194.58 on Wednesday. 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 firm has a market capitalization of $10.16 billion, a P/E ratio of -1,080.94, a P/E/G ratio of 28.48 and a beta of 0.75. The business's 50-day moving average is $209.87 and its two-hundred day moving average is $177.77. Molina Healthcare, Inc has a 1 year low of $121.06 and a 1 year high of $244.89.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $10.87 billion during the quarter, compared to the consensus estimate of $10.83 billion. During the same period in the previous year, the company posted $5.48 earnings per share. The business's revenue for the quarter was down 4.8% on a year-over-year basis. Analysts anticipate that Molina Healthcare, Inc will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

MOH has been the subject of several research reports. Robert W. Baird lifted their target price on Molina Healthcare from $124.00 to $163.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Barclays lowered their price objective on shares of Molina Healthcare from $184.00 to $180.00 and set an "underweight" rating for the company in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $129.00 price objective on shares of Molina Healthcare in a report on Friday, April 24th. Jefferies Financial Group set a $230.00 target price on shares of Molina Healthcare in a research note on Tuesday, July 14th. Finally, UBS Group increased their target price on shares of Molina Healthcare from $180.00 to $202.00 and gave the stock a "neutral" rating in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $202.44.

Insider Buying and Selling

In other Molina Healthcare news, CAO Maurice Hebert sold 600 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $191.55, for a total transaction of $114,930.00. Following the completion of the transaction, the chief accounting officer owned 12,815 shares in the company, valued at $2,454,713.25. The trade was a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.44% of the stock is owned by company insiders.

Molina Healthcare Profile

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.

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