Raymond James Financial Inc. Has $13.83 Million Stock Holdings in Molina Healthcare, Inc $MOH

Key Points

• Raymond James Financial Inc. increased its stake in Molina Healthcare by 13.9%, owning a total of 41,983 shares valued at approximately $13.8 million after acquiring 5,135 shares in the first quarter.
• Institutional investors collectively own 98.50% of Molina Healthcare's stock, with significant increases in shares held by GAMMA Investing LLC and others during the same time period.
• Molina Healthcare's stock has experienced price target reductions from multiple analysts, with current target prices ranging from $179 to $330, affecting its overall rating to predominantly "Hold."

Raymond James Financial Inc. increased its stake in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 41,983 shares of the company's stock after purchasing an additional 5,135 shares during the quarter. Raymond James Financial Inc. owned approximately 0.08% of Molina Healthcare worth $13,829,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC lifted its holdings in Molina Healthcare by 126.3% in the 1st quarter. Rothschild Investment LLC now owns 86 shares of the company's stock worth $28,000 after purchasing an additional 48 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Molina Healthcare in the 1st quarter worth approximately $29,000. Colonial Trust Co SC increased its position in Molina Healthcare by 930.0% in the 4th quarter. Colonial Trust Co SC now owns 103 shares of the company's stock worth $30,000 after buying an additional 93 shares during the period. Deseret Mutual Benefit Administrators increased its position in Molina Healthcare by 60.7% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 90 shares of the company's stock worth $30,000 after buying an additional 34 shares during the period. Finally, Silver Oak Securities Incorporated bought a new position in Molina Healthcare in the 1st quarter worth approximately $34,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Molina Healthcare Stock Performance

Shares of MOH traded up $6.15 on Friday, reaching $180.87. 1,489,455 shares of the stock traded hands, compared to its average volume of 1,498,875. The stock's 50-day moving average price is $199.34 and its 200-day moving average price is $273.25. Molina Healthcare, Inc has a 12 month low of $151.95 and a 12 month high of $365.23. The firm has a market cap of $9.80 billion, a price-to-earnings ratio of 8.91 and a beta of 0.54. 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 (NYSE:MOH - Get Free Report) last announced its quarterly 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). Molina Healthcare had a net margin of 2.60% and a return on equity of 27.72%. The company had revenue of $11.43 billion during the quarter, compared to the consensus estimate of $10.94 billion. During the same quarter last year, the company earned $5.86 earnings per share. The business's revenue was up 15.7% on a year-over-year basis. Equities analysts forecast that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on MOH. Wells Fargo & Company dropped their price target on Molina Healthcare from $216.00 to $198.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Truist Financial reaffirmed a "hold" rating and issued a $180.00 price target (down from $335.00) on shares of Molina Healthcare in a research report on Friday, July 25th. Barclays dropped their price target on Molina Healthcare from $270.00 to $186.00 and set an "equal weight" rating on the stock in a research report on Friday, July 25th. Wall Street Zen downgraded Molina Healthcare from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $210.00 price objective on shares of Molina Healthcare in a research report on Tuesday, August 26th. Three research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.