OMERS ADMINISTRATION Corp Acquires 2,067 Shares of Molina Healthcare, Inc $MOH

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Molina Healthcare, Inc by 36.5%, acquiring a total of 7,723 shares valued at approximately $2.54 million.
• Several other hedge funds have also raised their positions in Molina, including Price T Rowe Associates and GAMMA Investing, highlighting strong institutional interest with 98.50% of shares owned by institutional investors.
• Molina Healthcare reported earnings of $5.48 per share last quarter, which was below analysts' estimates, even as its revenue grew by 15.7% year-over-year to $11.43 billion.

OMERS ADMINISTRATION Corp lifted its position in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 36.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,723 shares of the company's stock after purchasing an additional 2,067 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Molina Healthcare were worth $2,544,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MOH. Ieq Capital LLC increased its stake in Molina Healthcare by 104.2% in the first quarter. Ieq Capital LLC now owns 43,886 shares of the company's stock valued at $14,456,000 after acquiring an additional 22,397 shares during the period. Islay Capital Management LLC acquired a new stake in Molina Healthcare during the first quarter valued at approximately $1,038,000. Comerica Bank grew its stake in shares of Molina Healthcare by 3.0% in the 1st quarter. Comerica Bank now owns 13,637 shares of the company's stock valued at $4,492,000 after purchasing an additional 398 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Molina Healthcare in the 1st quarter worth approximately $1,613,000. Finally, Jump Financial LLC boosted its stake in shares of Molina Healthcare by 186.5% in the 1st quarter. Jump Financial LLC now owns 29,566 shares of the company's stock valued at $9,739,000 after purchasing an additional 19,247 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Molina Healthcare

In other news, Director Ronna Romney sold 700 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $153.74, for a total transaction of $107,618.00. Following the transaction, the director owned 17,131 shares in the company, valued at approximately $2,633,719.94. This represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James Woys acquired 10,000 shares of the business's stock in a transaction dated Monday, August 4th. The shares were bought at an average cost of $155.94 per share, for a total transaction of $1,559,400.00. Following the transaction, the chief operating officer directly owned 74,331 shares in the company, valued at approximately $11,591,176.14. This represents a 15.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.26% of the company's stock.

Molina Healthcare Stock Performance

NYSE:MOH traded down $5.98 during mid-day trading on Wednesday, reaching $177.27. 928,178 shares of the company's stock were exchanged, compared to its average volume of 1,012,193. The firm has a market capitalization of $9.61 billion, a PE ratio of 8.74 and a beta of 0.54. 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, Inc has a one year low of $151.95 and a one year high of $365.23. The business's fifty day simple moving average is $194.93 and its two-hundred day simple moving average is $272.00.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Molina Healthcare from $216.00 to $198.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Truist Financial reiterated a "hold" rating and issued a $180.00 target price (down previously from $335.00) on shares of Molina Healthcare in a research note on Friday, July 25th. Robert W. Baird decreased their price target on Molina Healthcare from $373.00 to $179.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. UBS Group dropped their price target on Molina Healthcare from $260.00 to $180.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. cut their price objective on Molina Healthcare from $272.00 to $184.00 and set a "neutral" rating for the company in a research report on Tuesday, July 29th. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $242.91.

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.