Voya Investment Management LLC Trims Holdings in Molina Healthcare, Inc $MOH

Key Points

• Voya Investment Management LLC reduced its holdings in Molina Healthcare by 17.1%, now owning 30,021 shares worth $9.89 million.
• Multiple investors have increased their stakes in Molina Healthcare, with Rothschild Investment LLC growing its position by 126.3% during the same quarter.
• Analysts have downgraded Molina Healthcare's stock ratings, with Mizuho cutting its price target from $400 to $330, reflecting a widespread reevaluation within the industry.

Voya Investment Management LLC trimmed its stake in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 17.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,021 shares of the company's stock after selling 6,202 shares during the period. Voya Investment Management LLC owned about 0.06% of Molina Healthcare worth $9,889,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Rothschild Investment LLC grew its holdings in shares of Molina Healthcare by 126.3% during the first quarter. Rothschild Investment LLC now owns 86 shares of the company's stock worth $28,000 after purchasing an additional 48 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Molina Healthcare during the first quarter worth $29,000. Deseret Mutual Benefit Administrators grew its holdings in shares of Molina Healthcare by 60.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 90 shares of the company's stock worth $30,000 after purchasing an additional 34 shares during the last quarter. Elequin Capital LP grew its holdings in shares of Molina Healthcare by 170.6% during the first quarter. Elequin Capital LP now owns 92 shares of the company's stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Finally, Silver Oak Securities Incorporated bought a new stake in shares of Molina Healthcare during the first quarter worth $34,000. 98.50% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, Director Ronna Romney sold 700 shares of the company'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 transaction, the director owned 17,131 shares of the company's stock, valued at $2,633,719.94. This represents a 3.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO James Woys purchased 10,000 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was bought at an average cost of $155.94 per share, with a total value of $1,559,400.00. Following the purchase, the chief operating officer 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 position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Sanford C. Bernstein decreased their price target on Molina Healthcare from $284.00 to $220.00 and set an "outperform" rating on the stock in a report on Friday, September 5th. Wells Fargo & Company decreased their price target on Molina Healthcare from $216.00 to $198.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. JPMorgan Chase & Co. decreased their price target on Molina Healthcare from $272.00 to $184.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. Truist Financial reiterated a "hold" rating and issued a $180.00 price target (down previously from $335.00) on shares of Molina Healthcare in a report on Friday, July 25th. Finally, Morgan Stanley cut Molina Healthcare from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $364.00 to $266.00 in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $225.18.

Molina Healthcare Price Performance

Shares of NYSE:MOH traded down $4.62 during trading on Friday, reaching $175.09. 2,063,581 shares of the company traded hands, compared to its average volume of 1,239,660. The company's 50 day moving average is $174.11 and its two-hundred day moving average is $262.02. The firm has a market capitalization of $9.49 billion, a PE ratio of 8.63 and a beta of 0.54. 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, Inc has a 52 week low of $151.95 and a 52 week high of $359.97.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share for the quarter, missing analysts' consensus estimates of $5.50 by ($0.02). The company had revenue of $11.43 billion for the quarter, compared to the consensus estimate of $10.94 billion. Molina Healthcare had a net margin of 2.60% and a return on equity of 27.72%. The business's revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 year.

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.