Tributary Capital Management LLC Reduces Position in Molina Healthcare, Inc (NYSE:MOH)

Tributary Capital Management LLC decreased its position in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 33.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,801 shares of the company's stock after selling 1,389 shares during the quarter. Tributary Capital Management LLC's holdings in Molina Healthcare were worth $923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Molina Healthcare by 74,593.7% in the first quarter. GAMMA Investing LLC now owns 667,015 shares of the company's stock valued at $219,708,000 after purchasing an additional 666,122 shares during the last quarter. Norges Bank bought a new stake in Molina Healthcare in the fourth quarter valued at approximately $134,675,000. FMR LLC lifted its position in Molina Healthcare by 31.1% in the fourth quarter. FMR LLC now owns 1,801,113 shares of the company's stock valued at $524,214,000 after purchasing an additional 427,276 shares during the last quarter. Voloridge Investment Management LLC lifted its position in Molina Healthcare by 1,641.3% in the fourth quarter. Voloridge Investment Management LLC now owns 409,807 shares of the company's stock valued at $119,274,000 after purchasing an additional 386,273 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Molina Healthcare by 28.5% in the fourth quarter. Invesco Ltd. now owns 1,327,021 shares of the company's stock valued at $386,229,000 after purchasing an additional 294,180 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Molina Healthcare Stock Down 10.7%

Shares of NYSE MOH traded down $21.78 during trading on Friday, reaching $182.47. The company had a trading volume of 3,589,203 shares, compared to its average volume of 737,033. Molina Healthcare, Inc has a 12-month low of $182.13 and a 12-month high of $365.23. The stock has a market cap of $9.89 billion, a PE ratio of 8.81, a P/E/G ratio of 0.90 and a beta of 0.55. The business's 50-day moving average is $284.56 and its 200 day moving average is $301.05. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $6.08 EPS for the quarter, topping 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 period in the prior year, the firm posted $5.73 earnings per share. The company's quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities analysts forecast that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MOH. Guggenheim began coverage on Molina Healthcare in a research note on Wednesday, April 9th. They set a "neutral" rating on the stock. Truist Financial reduced their target price on Molina Healthcare from $400.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday. Sanford C. Bernstein began coverage on Molina Healthcare in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $414.00 target price on the stock. Morgan Stanley cut Molina Healthcare from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $364.00 to $266.00 in a research note on Thursday, July 10th. Finally, Baird R W cut Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $347.57.

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.