Jackson Square Partners LLC Sells 13,160 Shares of Molina Healthcare, Inc (NYSE:MOH)

Key Points

• Jackson Square Partners LLC reduced its shares in Molina Healthcare by 16.6% in the first quarter, holding 66,341 shares valued at approximately $21.85 million.
• Many hedge funds and institutional investors increased their positions in Molina, with Federated Hermes Inc. and FMR LLC seeing significant increases of 28.3% and 31.1%, respectively, during the fourth quarter.
• The latest earnings report showed Molina Healthcare missed analysts’ EPS estimates by $0.02 but achieved a year-over-year revenue growth of 15.7%, totaling $11.43 billion for the quarter.

Jackson Square Partners LLC cut its stake in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 16.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,341 shares of the company's stock after selling 13,160 shares during the period. Molina Healthcare makes up 2.9% of Jackson Square Partners LLC's investment portfolio, making the stock its 7th largest position. Jackson Square Partners LLC owned about 0.12% of Molina Healthcare worth $21,852,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC lifted its stake in shares of Molina Healthcare by 7.1% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,462 shares of the company's stock worth $478,000 after acquiring an additional 97 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Molina Healthcare by 4.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 416,241 shares of the company's stock valued at $137,106,000 after acquiring an additional 16,161 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in Molina Healthcare during the first quarter worth $436,000. Earned Wealth Advisors LLC acquired a new stake in shares of Molina Healthcare in the first quarter valued at $276,000. Finally, PNC Financial Services Group Inc. boosted its holdings in Molina Healthcare by 49.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,923 shares of the company's stock valued at $1,622,000 after acquiring an additional 1,622 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO James Woys bought 10,000 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was purchased 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 trade represents a 15.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronna Romney sold 700 shares of the firm'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 transaction, the director directly owned 17,131 shares of the company's stock, valued at $2,633,719.94. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Molina Healthcare Trading Down 1.1%

Shares of MOH traded down $1.75 during mid-day trading on Monday, reaching $155.15. 360,134 shares of the company's stock traded hands, compared to its average volume of 957,596. The stock has a market cap of $8.41 billion, a P/E ratio of 7.66 and a beta of 0.52. 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, Inc has a 12 month low of $151.95 and a 12 month high of $365.23. The stock's 50-day moving average is $236.76 and its two-hundred day moving average is $286.75.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its quarterly earnings data 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 return on equity of 27.72% and a net margin of 2.60%. The company had revenue of $11.43 billion for the quarter, compared to analysts' expectations of $10.94 billion. During the same quarter in the previous year, the business posted $5.86 EPS. The business's quarterly revenue was up 15.7% compared to the same quarter last year. Research analysts forecast that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Molina Healthcare in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $414.00 target price on the stock. Truist Financial reiterated a "hold" rating and set a $180.00 target price (down from $335.00) on shares of Molina Healthcare in a research note on Friday, July 25th. JPMorgan Chase & Co. reduced their target price on Molina Healthcare from $272.00 to $184.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Barclays reduced their price target on Molina Healthcare from $270.00 to $186.00 and set an "equal weight" rating for the company in a research note on Friday, July 25th. Finally, Baird R W downgraded Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Molina Healthcare currently has an average rating of "Hold" and a consensus price target of $244.55.

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.