Truist Financial Corp Reduces Position in Molina Healthcare, Inc $MOH

Key Points

• Truist Financial Corp reduced its stake in Molina Healthcare, Inc by 34.7% in Q2, holding 2,556 shares worth approximately $761,000 after selling 1,358 shares.
• COO James Woys purchased 10,000 shares of Molina Healthcare stock at $155.94 each, marking a significant increase of 15.54% in his position.
• Analysts' ratings for Molina Healthcare show three "Buy" ratings and a consensus target price of $223.75, with recent upgrades from Wells Fargo raising their target to $231.00.

Truist Financial Corp trimmed its holdings in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 34.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,556 shares of the company's stock after selling 1,358 shares during the period. Truist Financial Corp's holdings in Molina Healthcare were worth $761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MOH. Farther Finance Advisors LLC lifted its stake in Molina Healthcare by 100.3% during the 1st 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 period. GAMMA Investing LLC lifted its stake in Molina Healthcare by 126.8% during the 1st quarter. GAMMA Investing LLC now owns 2,025 shares of the company's stock valued at $667,000 after acquiring an additional 1,132 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Molina Healthcare by 82.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 15,635 shares of the company's stock valued at $5,150,000 after acquiring an additional 7,051 shares during the period. Exchange Traded Concepts LLC lifted its stake in Molina Healthcare by 4.1% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,499 shares of the company's stock valued at $1,153,000 after acquiring an additional 139 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in Molina Healthcare by 214.1% during the 1st quarter. QRG Capital Management Inc. now owns 3,188 shares of the company's stock valued at $1,050,000 after acquiring an additional 2,173 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO James Woys acquired 10,000 shares of Molina Healthcare stock in a transaction on Monday, August 4th. The stock was bought at an average cost of $155.94 per share, for a total transaction of $1,559,400.00. Following the completion of the transaction, the chief operating officer 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 legal filing with the SEC, which is available through this link. 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 transaction of $107,618.00. Following the transaction, the director owned 17,131 shares of the company's stock, valued at $2,633,719.94. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of Molina Healthcare from $198.00 to $231.00 and gave the company an "overweight" rating in a research note on Tuesday, October 7th. Robert W. Baird decreased their target price on shares of Molina Healthcare from $373.00 to $179.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Morgan Stanley boosted their target price on shares of Molina Healthcare from $163.00 to $204.00 and gave the company an "equal weight" rating in a research note on Tuesday. Sanford C. Bernstein decreased their target price on shares of Molina Healthcare from $284.00 to $220.00 and set an "outperform" rating for the company in a research note on Friday, September 5th. Finally, Barclays decreased their target price on shares of Molina Healthcare from $186.00 to $185.00 and set an "equal weight" rating for the company in a research note on Thursday, September 4th. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Molina Healthcare has an average rating of "Hold" and an average target price of $223.75.

Molina Healthcare Stock Performance

NYSE:MOH opened at $194.55 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.66 and a current ratio of 1.66. The company has a fifty day moving average of $179.79 and a two-hundred day moving average of $247.03. The stock has a market capitalization of $10.54 billion, a PE ratio of 9.59 and a beta of 0.55. Molina Healthcare, Inc has a fifty-two week low of $151.95 and a fifty-two week high of $359.97.

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

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.

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