T. Rowe Price Investment Management Inc. Raises Stake in Molina Healthcare, Inc $MOH

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Molina Healthcare, Inc by 8.6%, acquiring an additional 117,796 shares to own approximately 2.75% of the company, valued at around $490 million.
• Molina Healthcare's share price opened at $173.64, with a 12-month low of $151.95 and a high of $365.23, reflecting a market capitalization of $9.41 billion.
• Multiple institutional investors have recently increased their holdings, indicating a strong interest, while 98.50% of Molina Healthcare’s stock is now owned by institutional investors.

T. Rowe Price Investment Management Inc. boosted its stake in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 8.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,487,896 shares of the company's stock after buying an additional 117,796 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 2.75% of Molina Healthcare worth $490,099,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teacher Retirement System of Texas purchased a new position in shares of Molina Healthcare in the 1st quarter worth approximately $2,759,000. Farther Finance Advisors LLC increased its stake 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. bought a new position in Molina Healthcare in the first quarter valued at $1,070,000. Wealth Enhancement Advisory Services LLC lifted its position 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 purchasing an additional 7,051 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new stake in Molina Healthcare in the 1st quarter worth $255,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Molina Healthcare

In related news, COO James Woys bought 10,000 shares of the business's stock in a transaction dated Monday, August 4th. The stock was acquired at an average price of $155.94 per share, with a total value of $1,559,400.00. Following the completion of the purchase, the chief operating officer directly owned 74,331 shares of the company's stock, valued at approximately $11,591,176.14. This trade represents a 15.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ronna Romney sold 700 shares of the business's stock in a transaction dated Wednesday, August 6th. The stock was 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 $2,633,719.94. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Molina Healthcare Stock Performance

NYSE:MOH traded up $1.47 during trading hours on Friday, hitting $174.30. 1,183,908 shares of the company were exchanged, compared to its average volume of 1,885,765. Molina Healthcare, Inc has a 52-week low of $151.95 and a 52-week high of $365.23. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 8.59 and a beta of 0.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.66. The company's 50 day moving average price is $211.01 and its 200-day moving average price is $277.08.

Molina Healthcare (NYSE:MOH - Get Free Report) last released 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). The company had revenue of $11.43 billion for the quarter, compared to analysts' expectations of $10.94 billion. Molina Healthcare had a net margin of 2.60% and a return on equity of 27.72%. The business's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.86 EPS. As a group, research analysts forecast that Molina Healthcare, Inc will post 24.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MOH has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on Molina Healthcare from $272.00 to $184.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. 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 research report on Friday, July 25th. Truist Financial reaffirmed a "hold" rating and issued a $180.00 target price (down previously from $335.00) on shares of Molina Healthcare in a research report on Friday, July 25th. Mizuho dropped their target price on shares of Molina Healthcare from $400.00 to $330.00 and set an "outperform" rating for the company in a report on Friday, July 11th. Finally, Cantor Fitzgerald restated a "neutral" rating and set a $210.00 price objective (down previously from $312.00) on shares of Molina Healthcare in a research report on Friday, July 25th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $242.91.

About Molina Healthcare

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.