Bank of Nova Scotia Sells 2,253 Shares of Molina Healthcare, Inc (NYSE:MOH)

Bank of Nova Scotia cut its holdings in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 29.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,400 shares of the company's stock after selling 2,253 shares during the period. Bank of Nova Scotia's holdings in Molina Healthcare were worth $1,779,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. FMR LLC increased its holdings in Molina Healthcare by 31.1% during the 4th quarter. FMR LLC now owns 1,801,113 shares of the company's stock worth $524,214,000 after purchasing an additional 427,276 shares in the last quarter. Invesco Ltd. boosted its position in shares of Molina Healthcare by 28.5% during the fourth quarter. Invesco Ltd. now owns 1,327,021 shares of the company's stock valued at $386,229,000 after buying an additional 294,180 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Molina Healthcare by 15.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 688,245 shares of the company's stock worth $200,307,000 after buying an additional 91,229 shares in the last quarter. GAMMA Investing LLC raised its position in Molina Healthcare by 74,593.7% in the 1st 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. Finally, AQR Capital Management LLC raised its position in Molina Healthcare by 19.6% in the 4th quarter. AQR Capital Management LLC now owns 620,294 shares of the company's stock valued at $180,537,000 after buying an additional 101,630 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Molina Healthcare Stock Performance

NYSE MOH traded up $1.87 on Friday, hitting $156.87. 1,308,298 shares of the stock traded hands, compared to its average volume of 961,823. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.66 and a current ratio of 1.66. The business's fifty day moving average is $236.76 and its two-hundred day moving average is $286.99. Molina Healthcare, Inc has a 12 month low of $151.95 and a 12 month high of $365.23. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of 7.73 and a beta of 0.52.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $5.48 EPS for the quarter, missing analysts' consensus estimates of $5.50 by ($0.02). Molina Healthcare had a net margin of 2.60% and a return on equity of 27.72%. The firm had revenue of $11.43 billion for the quarter, compared to analysts' expectations of $10.94 billion. During the same period in the prior year, the company earned $5.86 EPS. The firm's quarterly revenue was up 15.7% on a year-over-year basis. As a group, equities analysts anticipate that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO James Woys acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were acquired at an average price of $155.94 per share, with a total value of $1,559,400.00. Following the acquisition, 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronna Romney sold 700 shares of the firm'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 approximately $2,633,719.94. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MOH. JPMorgan Chase & Co. cut their price objective on shares of Molina Healthcare from $272.00 to $184.00 and set a "neutral" rating on the stock in a report on Tuesday, July 29th. Baird R W lowered shares of Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Wells Fargo & Company cut their target price on Molina Healthcare from $372.00 to $216.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Robert W. Baird reduced their target price on Molina Healthcare from $373.00 to $179.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Finally, Morgan Stanley lowered Molina Healthcare from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $364.00 to $266.00 in a report on Thursday, July 10th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $244.55.

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.