8,376 Shares in Molina Healthcare, Inc (NYSE:MOH) Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new position in Molina Healthcare, Inc (NYSE:MOH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,376 shares of the company's stock, valued at approximately $2,759,000.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in shares of Molina Healthcare by 74,593.7% during the first quarter. GAMMA Investing LLC now owns 667,015 shares of the company's stock valued at $219,708,000 after acquiring an additional 666,122 shares in the last quarter. Norges Bank bought a new stake in shares of Molina Healthcare during the fourth quarter valued at approximately $134,675,000. FMR LLC grew its holdings in Molina Healthcare by 31.1% during the fourth quarter. FMR LLC now owns 1,801,113 shares of the company's stock worth $524,214,000 after buying an additional 427,276 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in Molina Healthcare by 1,641.3% during the fourth quarter. Voloridge Investment Management LLC now owns 409,807 shares of the company's stock worth $119,274,000 after buying an additional 386,273 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Molina Healthcare by 28.5% during the fourth quarter. Invesco Ltd. now owns 1,327,021 shares of the company's stock worth $386,229,000 after buying an additional 294,180 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MOH. Morgan Stanley downgraded Molina Healthcare from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $364.00 to $266.00 in a report on Thursday. Truist Financial upped their price target on Molina Healthcare from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Mizuho decreased their price target on Molina Healthcare from $400.00 to $330.00 and set an "outperform" rating for the company in a report on Friday. Guggenheim began coverage on Molina Healthcare in a report on Wednesday, April 9th. They set a "neutral" rating for the company. Finally, Sanford C. Bernstein began coverage on Molina Healthcare in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $414.00 price objective on the stock. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Molina Healthcare currently has a consensus rating of "Hold" and an average target price of $352.21.

Molina Healthcare Stock Performance

Shares of NYSE MOH traded down $7.58 during trading on Friday, reaching $221.00. 1,445,598 shares of the stock traded hands, compared to its average volume of 718,903. Molina Healthcare, Inc has a 52-week low of $219.72 and a 52-week high of $365.23. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. The company has a 50-day moving average of $293.27 and a 200-day moving average of $303.29. The stock has a market capitalization of $11.98 billion, a P/E ratio of 10.67, a price-to-earnings-growth ratio of 0.93 and a beta of 0.55.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 EPS for the quarter, beating analysts' consensus estimates of $5.96 by $0.12. Molina Healthcare had a return on equity of 28.38% and a net margin of 2.81%. The firm had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $10.86 billion. During the same quarter in the prior year, the firm earned $5.73 EPS. The business's revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts forecast that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard M. Schapiro sold 669 shares of the stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $320.50, for a total transaction of $214,414.50. Following the sale, the director owned 11,244 shares of the company's stock, valued at approximately $3,603,702. This represents a 5.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Joseph M. Zubretsky sold 87,500 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total value of $28,005,250.00. Following the sale, the chief executive officer directly owned 257,715 shares in the company, valued at $82,484,262.90. This trade represents a 25.35% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

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.