NorthCrest Asset Manangement LLC Purchases New Position in Molina Healthcare, Inc. (NYSE:MOH)

NorthCrest Asset Manangement LLC purchased a new stake in Molina Healthcare, Inc. (NYSE:MOH - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,068 shares of the company's stock, valued at approximately $352,000.

Several other institutional investors have also bought and sold shares of MOH. GAMMA Investing LLC boosted its stake 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 in the last quarter. Norges Bank acquired a new position in Molina Healthcare in the fourth quarter worth $134,675,000. FMR LLC boosted its stake in Molina Healthcare by 31.1% in the fourth 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. Voloridge Investment Management LLC boosted its stake in Molina Healthcare by 1,641.3% in the fourth quarter. Voloridge Investment Management LLC now owns 409,807 shares of the company's stock worth $119,274,000 after purchasing an additional 386,273 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Molina Healthcare by 28.5% in the fourth quarter. Invesco Ltd. now owns 1,327,021 shares of the company's stock worth $386,229,000 after purchasing an additional 294,180 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company's stock.

Molina Healthcare Stock Up 1.7%

Shares of Molina Healthcare stock opened at $298.39 on Monday. Molina Healthcare, Inc. has a 1 year low of $262.32 and a 1 year high of $365.23. The business has a 50-day moving average of $316.10 and a two-hundred day moving average of $307.35. The company has a market capitalization of $16.17 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.62 and a quick ratio of 1.62.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.96 by $0.12. Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. The company had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $10.86 billion. During the same period in the prior year, the company earned $5.73 earnings per share. The company's revenue for the quarter was up 12.2% compared to the same quarter last year. As a group, equities analysts predict that Molina Healthcare, Inc. will post 24.4 EPS for the current year.

Analysts Set New Price Targets

MOH has been the topic of a number of recent analyst reports. Morgan Stanley initiated coverage on Molina Healthcare in a research note on Monday, June 9th. They issued an "overweight" rating and a $364.00 price objective on the stock. Truist Financial upped their price target on Molina Healthcare from $340.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Wall Street Zen raised Molina Healthcare from a "hold" rating to a "buy" rating in a research note on Friday, April 11th. Robert W. Baird reiterated a "neutral" rating and issued a $375.00 price objective (up previously from $331.00) on shares of Molina Healthcare in a report on Tuesday, April 15th. Finally, Guggenheim initiated coverage on Molina Healthcare in a report on Wednesday, April 9th. They issued a "neutral" rating for the company. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Molina Healthcare presently has an average rating of "Hold" and a consensus target price of $364.21.

Insiders Place Their Bets

In other news, CEO Joseph M. Zubretsky sold 87,500 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total transaction of $28,005,250.00. Following the completion of the transaction, the chief executive officer now directly owns 257,715 shares of the company's stock, valued at $82,484,262.90. This represents a 25.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard M. Schapiro sold 669 shares of the company's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $320.50, for a total value of $214,414.50. Following the transaction, the director now directly owns 11,244 shares of the company's stock, valued at $3,603,702. This represents a 5.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.

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