PNC Financial Services Group Inc. Increases Stock Position in Molina Healthcare, Inc (NYSE:MOH)

Key Points

• PNC Financial Services Group Inc. increased its stake in Molina Healthcare by 49.1%, owning a total of 4,923 shares valued at approximately $1.6 million after acquiring an additional 1,622 shares.
• Multiple analysts have downgraded Molina's stock ratings, with target prices ranging from $179 to $266, reflecting a cautious outlook despite a consensus rating of "Hold" and a target price of approximately $244.55.
• Molina Healthcare reported a quarterly earnings miss with an EPS of $5.48, slightly below the expected $5.50, while revenue increased by 15.7% year-over-year, totaling $11.43 billion.

PNC Financial Services Group Inc. lifted its position in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 49.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,923 shares of the company's stock after acquiring an additional 1,622 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Molina Healthcare were worth $1,622,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Amalgamated Bank increased its position in shares of Molina Healthcare by 0.3% during the first quarter. Amalgamated Bank now owns 11,580 shares of the company's stock valued at $3,814,000 after buying an additional 33 shares during the period. Deseret Mutual Benefit Administrators grew its position in shares of Molina Healthcare by 60.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 90 shares of the company's stock valued at $30,000 after purchasing an additional 34 shares in the last quarter. JLB & Associates Inc. increased its holdings in shares of Molina Healthcare by 0.3% in the first quarter. JLB & Associates Inc. now owns 10,626 shares of the company's stock worth $3,500,000 after purchasing an additional 36 shares during the period. Coldstream Capital Management Inc. grew its position in Molina Healthcare by 2.1% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,346 shares of the company's stock worth $683,000 after buying an additional 48 shares in the last quarter. Finally, Rothschild Investment LLC raised its holdings in shares of Molina Healthcare by 126.3% in the 1st quarter. Rothschild Investment LLC now owns 86 shares of the company's stock valued at $28,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 98.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MOH shares. Baird R W lowered shares of Molina Healthcare from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Robert W. Baird dropped 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. Barclays decreased their target price 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. Mizuho reduced their price objective on shares of Molina Healthcare from $400.00 to $330.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Finally, Wall Street Zen cut shares of Molina Healthcare from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $244.55.

Molina Healthcare Trading Up 2.5%

MOH stock traded up $3.89 during midday trading on Wednesday, reaching $161.20. 1,313,283 shares of the company traded hands, compared to its average volume of 969,088. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 7.94 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.66 and a current ratio of 1.66. The business has a 50 day moving average of $231.16 and a 200-day moving average of $284.81. Molina Healthcare, Inc has a 52-week low of $151.95 and a 52-week high of $365.23.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its quarterly 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). 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 the consensus estimate of $10.94 billion. During the same quarter in the previous year, the company posted $5.86 earnings per share. The business's revenue for the quarter was up 15.7% on a year-over-year basis. As a group, sell-side analysts expect that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ronna Romney sold 700 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total value of $107,618.00. Following the transaction, the director 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Woys acquired 10,000 shares of Molina Healthcare stock in a transaction on Monday, August 4th. The shares were purchased at an average price of $155.94 per share, for a total transaction of $1,559,400.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Company insiders own 1.26% 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.