Northern Trust Corp Sells 41,837 Shares of Molina Healthcare, Inc $MOH

Key Points

• Northern Trust Corp reduced its stake in Molina Healthcare by 6.9% during Q1, now owning approximately 1.04% of the company worth $186.4 million.
• In contrast, Brooklyn Investment Group increased its position by 30.8%, indicating mixed investor sentiment regarding Molina Healthcare's stock.
• Analysts have recently downgraded Molina Healthcare's stock ratings and target prices significantly, reflecting a cautious outlook amidst fluctuating performance, with the current consensus rating being "Hold."

Northern Trust Corp decreased its holdings in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 565,764 shares of the company's stock after selling 41,837 shares during the quarter. Northern Trust Corp owned 1.04% of Molina Healthcare worth $186,357,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MOH. 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 in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Molina Healthcare during the first quarter worth about $29,000. Colonial Trust Co SC grew its holdings in shares of Molina Healthcare by 930.0% during the fourth quarter. Colonial Trust Co SC now owns 103 shares of the company's stock worth $30,000 after purchasing an additional 93 shares in the last quarter. 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 in the last quarter. Finally, 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 in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Molina Healthcare Price Performance

NYSE:MOH traded up $1.47 during mid-day trading on Friday, reaching $174.30. The stock had a trading volume of 1,183,908 shares, compared to its average volume of 1,700,347. The firm has a 50 day moving average price of $211.01 and a two-hundred day moving average price of $276.74. The stock has a market capitalization of $9.45 billion, a P/E ratio of 8.59 and a beta of 0.52. Molina Healthcare, Inc has a one year low of $151.95 and a one year high of $365.23. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.66 and a current ratio of 1.66.

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 firm had revenue of $11.43 billion during the quarter, compared to the consensus estimate of $10.94 billion. Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%.The business's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.86 EPS. As a group, analysts expect that Molina Healthcare, Inc will post 24.4 earnings per share for the current year.

Insider Activity at Molina Healthcare

In related news, COO James Woys acquired 10,000 shares of the stock in a transaction 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 of the company's stock, valued at $11,591,176.14. This trade represents a 15.54% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronna Romney sold 700 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $153.74, for a total value of $107,618.00. Following the completion of the sale, the director owned 17,131 shares of the company's stock, valued at $2,633,719.94. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.26% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wall Street Zen lowered Molina Healthcare from a "buy" rating to a "hold" rating in a report on Sunday, June 29th. Barclays cut their price objective on Molina Healthcare from $270.00 to $186.00 and set an "equal weight" rating for the company in a report on Friday, July 25th. Robert W. Baird cut their price objective on Molina Healthcare from $373.00 to $179.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Cantor Fitzgerald restated a "neutral" rating and issued a $210.00 target price (down previously from $312.00) on shares of Molina Healthcare in a research report on Friday, July 25th. Finally, UBS Group dropped their target price 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. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Molina Healthcare has an average rating of "Hold" and an average target price of $242.91.

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.