State of New Jersey Common Pension Fund D Decreases Position in Molina Healthcare, Inc $MOH

Key Points

• The State of New Jersey Common Pension Fund D reduced its investment in Molina Healthcare, Inc by 9.2%, holding 19,569 shares valued at approximately $6.45 million as of its last filing.
• Several hedge funds have recently changed their positions in Molina Healthcare, with Rothschild Investment LLC increasing its stake by 126.3%, highlighting ongoing institutional interest in the stock.
• Molina Healthcare has faced multiple analyst price target cuts, with estimates now ranging from $180 to $266, reflecting a shift in market sentiment towards a more cautious outlook.

State of New Jersey Common Pension Fund D trimmed its stake in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 9.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 19,569 shares of the company's stock after selling 1,982 shares during the period. State of New Jersey Common Pension Fund D's holdings in Molina Healthcare were worth $6,446,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Teacher Retirement System of Texas acquired a new position in Molina Healthcare in the 1st quarter valued at about $2,759,000. Farther Finance Advisors LLC lifted its position in Molina Healthcare by 100.3% in the first quarter. Farther Finance Advisors LLC now owns 659 shares of the company's stock valued at $216,000 after acquiring an additional 330 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in Molina Healthcare in the first quarter valued at approximately $1,070,000. Wealth Enhancement Advisory Services LLC lifted its stake in Molina Healthcare by 82.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,635 shares of the company's stock valued at $5,150,000 after buying an additional 7,051 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new stake in Molina Healthcare in the first quarter valued at approximately $255,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Molina Healthcare Price Performance

MOH stock traded up $1.47 on Friday, reaching $174.30. 1,183,908 shares of the company's stock were exchanged, compared to its average volume of 1,885,765. The stock has a fifty day moving average of $211.01 and a 200-day moving average of $277.08. Molina Healthcare, Inc has a twelve month low of $151.95 and a twelve month high of $365.23. The firm has a market cap of $9.45 billion, a PE ratio of 8.59 and a beta of 0.52. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.77.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its quarterly earnings data 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 return on equity of 27.72% and a net margin of 2.60%.The business had revenue of $11.43 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the company earned $5.86 EPS. The company's revenue was up 15.7% on a year-over-year basis. As a group, equities analysts predict that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MOH shares. Morgan Stanley cut Molina Healthcare from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $364.00 to $266.00 in a research note on Thursday, July 10th. Robert W. Baird reduced their price objective on Molina Healthcare from $373.00 to $179.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Wells Fargo & Company reduced their price objective on Molina Healthcare from $216.00 to $198.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Truist Financial reissued a "hold" rating and issued a $180.00 target price (down previously from $335.00) on shares of Molina Healthcare in a 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 on the stock in a report on Friday, July 25th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Molina Healthcare currently has a consensus rating of "Hold" and a consensus target price of $242.91.

Insiders Place Their Bets

In other Molina Healthcare news, COO James Woys acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were purchased at an average price of $155.94 per share, with a total value of $1,559,400.00. Following the completion of the acquisition, the chief operating officer directly 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronna Romney sold 700 shares of the company's stock in a transaction 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 directly owned 17,131 shares in the company, valued at $2,633,719.94. This represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.