Molina Healthcare, Inc (NYSE:MOH) Stock Holdings Cut by Bank of Nova Scotia

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

A number of other hedge funds have also made changes to their positions in MOH. LPL Financial LLC increased its position in shares of Molina Healthcare by 4.0% during the fourth quarter. LPL Financial LLC now owns 17,960 shares of the company's stock worth $5,227,000 after purchasing an additional 686 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Molina Healthcare in the 4th quarter valued at approximately $5,265,000. Quadrant Capital Group LLC grew its stake in shares of Molina Healthcare by 11.4% during the 4th quarter. Quadrant Capital Group LLC now owns 627 shares of the company's stock worth $182,000 after purchasing an additional 64 shares during the period. Federated Hermes Inc. boosted its holdings in Molina Healthcare by 28.3% during the fourth quarter. Federated Hermes Inc. now owns 49,121 shares of the company's stock worth $14,297,000 after buying an additional 10,832 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of 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 acquiring an additional 427,276 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analysts Set New Price Targets

MOH has been the topic of several recent research reports. JPMorgan Chase & Co. decreased their price objective on shares of Molina Healthcare from $272.00 to $184.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 29th. UBS Group lowered their price objective on Molina Healthcare from $260.00 to $180.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Sanford C. Bernstein assumed coverage on shares of Molina Healthcare in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $414.00 price target for the company. Baird R W downgraded Molina Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Finally, Mizuho reduced their target price on shares of Molina Healthcare from $400.00 to $330.00 and set an "outperform" rating on the stock in a report on Friday, July 11th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Molina Healthcare has an average rating of "Hold" and an average price target of $244.55.

Molina Healthcare Stock Up 1.2%

MOH traded up $1.87 during trading on Friday, hitting $156.87. The company had a trading volume of 1,308,298 shares, compared to its average volume of 2,306,302. The business has a 50-day moving average of $236.76 and a 200-day moving average of $286.88. The company has a market cap of $8.50 billion, a PE ratio of 7.73 and a beta of 0.52. Molina Healthcare, Inc has a 1-year low of $151.95 and a 1-year high of $365.23. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.66.

Molina Healthcare (NYSE:MOH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share (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 firm had revenue of $11.43 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the company posted $5.86 earnings per share. The business's revenue was up 15.7% on a year-over-year basis. As a group, analysts forecast that Molina Healthcare, Inc will post 24.4 earnings per share for the current year.

Insider Transactions at Molina Healthcare

In related news, Director Ronna Romney sold 700 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total transaction of $107,618.00. Following the completion of the transaction, the director owned 17,131 shares in the company, valued at $2,633,719.94. The trade was a 3.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James Woys acquired 10,000 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price 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 in the company, valued at $11,591,176.14. The trade was a 15.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

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.