TD Asset Management Inc Cuts Stock Position in Molina Healthcare, Inc $MOH

TD Asset Management Inc cut its holdings in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 9.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,398 shares of the company's stock after selling 17,817 shares during the quarter. TD Asset Management Inc owned 0.32% of Molina Healthcare worth $52,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sequoia Financial Advisors LLC lifted its stake in shares of Molina Healthcare by 20.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,847 shares of the company's stock valued at $550,000 after purchasing an additional 318 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Molina Healthcare by 43.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 29,684 shares of the company's stock valued at $9,092,000 after purchasing an additional 9,016 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Molina Healthcare in the 2nd quarter valued at approximately $94,000. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Molina Healthcare by 13.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,655 shares of the company's stock valued at $2,876,000 after purchasing an additional 1,143 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Molina Healthcare by 7.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 944 shares of the company's stock valued at $281,000 after purchasing an additional 62 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MOH shares. Wall Street Zen lowered Molina Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. 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. UBS Group reduced their price objective on shares of Molina Healthcare from $260.00 to $180.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $210.00 price objective on shares of Molina Healthcare in a research report on Tuesday, August 26th. Finally, The Goldman Sachs Group started coverage on shares of Molina Healthcare in a research report on Tuesday. They issued a "neutral" rating and a $207.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $223.75.

Insider Buying and Selling at Molina Healthcare

In related news, Director Ronna Romney sold 700 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $153.74, for a total value 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. The trade was a 3.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO James Woys acquired 10,000 shares of Molina Healthcare stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average cost of $155.94 per share, with a total value of $1,559,400.00. Following the purchase, the chief operating officer directly owned 74,331 shares of the company's stock, valued at $11,591,176.14. This represents a 15.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

Molina Healthcare Price Performance

Shares of MOH stock opened at $192.33 on Thursday. Molina Healthcare, Inc has a twelve month low of $151.95 and a twelve month high of $359.97. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 9.48 and a beta of 0.55. The stock has a fifty day simple moving average of $180.58 and a two-hundred day simple moving average of $246.65. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.77.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share for the quarter, missing the consensus estimate of $5.50 by ($0.02). Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%.The firm had revenue of $11.43 billion during the quarter, compared to analysts' expectations of $10.94 billion. During the same quarter in the prior year, the company posted $5.86 earnings per share. Molina Healthcare's quarterly revenue was up 15.7% compared to the same quarter last year. On average, analysts predict that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

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.

Want to see what other hedge funds are holding MOH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molina Healthcare, Inc (NYSE:MOH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.