VeriStar Capital Management LP Sells 9,522 Shares of Molina Healthcare, Inc $MOH

Key Points

• VeriStar Capital Management LP has reduced its stake in Molina Healthcare, Inc by 45.5%, now holding 11,391 shares valued at approximately $3.75 million.
• Molina Healthcare reported earnings per share (EPS) of $5.48, slightly missing analyst expectations, despite a 15.7% increase in revenue year-over-year.
• Analysts have adjusted their price targets for Molina stock, with Mizuho lowering the target from $400 to $330, reflecting mixed sentiments about the company's prospects.

VeriStar Capital Management LP reduced its position in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) by 45.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,391 shares of the company's stock after selling 9,522 shares during the period. Molina Healthcare comprises about 6.9% of VeriStar Capital Management LP's holdings, making the stock its 7th largest holding. VeriStar Capital Management LP's holdings in Molina Healthcare were worth $3,752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rothschild Investment LLC boosted its position in shares of Molina Healthcare by 126.3% during the first quarter. Rothschild Investment LLC now owns 86 shares of the company's stock worth $28,000 after buying an additional 48 shares during the period. Zions Bancorporation National Association UT purchased a new position in shares of Molina Healthcare during the first quarter worth $29,000. Colonial Trust Co SC boosted its position in shares of Molina Healthcare by 930.0% during the fourth quarter. Colonial Trust Co SC now owns 103 shares of the company's stock worth $30,000 after buying an additional 93 shares during the period. Deseret Mutual Benefit Administrators boosted its position in shares of Molina Healthcare by 60.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 90 shares of the company's stock worth $30,000 after buying an additional 34 shares during the period. Finally, Elequin Capital LP boosted its position in shares of Molina Healthcare by 170.6% during the first quarter. Elequin Capital LP now owns 92 shares of the company's stock worth $30,000 after buying an additional 58 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Molina Healthcare Stock Up 2.2%

Molina Healthcare stock traded up $3.68 during midday trading on Friday, reaching $174.51. The company's stock had a trading volume of 1,294,913 shares, compared to its average volume of 1,435,618. Molina Healthcare, Inc has a fifty-two week low of $151.95 and a fifty-two week high of $365.23. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The company has a market cap of $9.46 billion, a P/E ratio of 8.60 and a beta of 0.54. The business has a 50-day simple moving average of $187.75 and a 200-day simple moving average of $269.99.

Molina Healthcare (NYSE:MOH - Get Free Report) last posted its quarterly earnings results 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). Molina Healthcare had a net margin of 2.60% and a return on equity of 27.72%. The business had revenue of $11.43 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter in the prior year, the business earned $5.86 earnings per share. The firm's quarterly revenue was up 15.7% on a year-over-year basis. On average, research analysts expect that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Molina Healthcare news, Director Ronna Romney sold 700 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total value of $107,618.00. Following the sale, the director directly owned 17,131 shares in the company, valued at $2,633,719.94. This trade represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO James Woys purchased 10,000 shares of the business's stock in a transaction on Monday, August 4th. The stock was acquired at an average price of $155.94 per share, for a total transaction of $1,559,400.00. Following the completion of the purchase, the chief operating officer 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 owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on MOH shares. Morgan Stanley lowered Molina Healthcare from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $364.00 to $266.00 in a research report on Thursday, July 10th. Wells Fargo & Company cut their price target on Molina Healthcare from $216.00 to $198.00 and set an "overweight" rating on the stock in a report on Friday, August 15th. Mizuho reduced their price target on Molina Healthcare from $400.00 to $330.00 and set an "outperform" rating on the stock in a research report on Friday, July 11th. Truist Financial reaffirmed a "hold" rating and issued a $180.00 price target (down previously from $335.00) on shares of Molina Healthcare in a research report on Friday, July 25th. Finally, Barclays reduced their price target on Molina Healthcare from $186.00 to $185.00 and set an "equal weight" rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $225.18.

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.