Solas Capital Management LLC Invests $9.20 Million in Molina Healthcare, Inc $MOH

Key Points

• Solas Capital Management initiated a $9.20 million position in Molina Healthcare during the second quarter, purchasing 40,219 shares and making the stock approximately 4.9% of its portfolio.
• Institutional ownership remains substantial at 98.5%, with BlackRock, AQR Capital Management, T. Rowe Price, Invesco, and Victory Capital among major holders that recently increased or initiated positions.
• Molina exceeded quarterly earnings expectations with EPS of $1.51 versus $1.39 projected and revenue of $10.87 billion, but analysts maintain a consensus “Hold” rating with an average price target of $202.44.

Solas Capital Management LLC bought a new position in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 40,219 shares of the company's stock, valued at approximately $9,198,000. Molina Healthcare makes up approximately 4.9% of Solas Capital Management LLC's investment portfolio, making the stock its 11th biggest position. Solas Capital Management LLC owned approximately 0.08% of Molina Healthcare at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Molina Healthcare in the second quarter valued at approximately $1,503,052,000. AQR Capital Management LLC boosted its holdings in shares of Molina Healthcare by 217.0% in the 3rd quarter. AQR Capital Management LLC now owns 2,934,130 shares of the company's stock worth $561,475,000 after acquiring an additional 2,008,458 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Molina Healthcare by 10.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,171,433 shares of the company's stock worth $376,831,000 after acquiring an additional 201,772 shares during the last quarter. Invesco Ltd. grew its position in Molina Healthcare by 24.2% during the 4th quarter. Invesco Ltd. now owns 1,690,981 shares of the company's stock worth $293,453,000 after acquiring an additional 329,679 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Molina Healthcare by 46.4% during the 4th quarter. Victory Capital Management Inc. now owns 1,410,604 shares of the company's stock valued at $244,796,000 after purchasing an additional 447,078 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MOH has been the subject of several research analyst reports. Mizuho set a $215.00 price objective on Molina Healthcare in a research report on Monday, June 8th. Zacks Research upgraded Molina Healthcare from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 23rd. TD Cowen raised their target price on Molina Healthcare from $163.00 to $230.00 and gave the company a "hold" rating in a research note on Tuesday, July 14th. Sanford C. Bernstein set a $286.00 price target on Molina Healthcare in a report on Monday, July 13th. Finally, Barclays reduced their price target on shares of Molina Healthcare from $184.00 to $180.00 and set an "underweight" rating on the stock in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Molina Healthcare presently has an average rating of "Hold" and an average target price of $202.44.

Molina Healthcare Stock Performance

MOH stock opened at $198.65 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.68 and a quick ratio of 1.68. The company has a 50 day moving average price of $211.20 and a 200 day moving average price of $178.68. Molina Healthcare, Inc has a fifty-two week low of $121.06 and a fifty-two week high of $244.89. The stock has a market capitalization of $10.37 billion, a PE ratio of -1,103.57, a price-to-earnings-growth ratio of 28.70 and a beta of 0.75.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.12. The firm had revenue of $10.87 billion for the quarter, compared to analyst estimates of $10.83 billion. Molina Healthcare had a positive return on equity of 3.73% and a negative net margin of 0.02%.The business's quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company earned $5.48 EPS. Analysts forecast that Molina Healthcare, Inc will post 5.29 EPS for the current year.

Molina Healthcare Profile

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.

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