Wealthfront Advisers LLC Acquires 22,565 Shares of Molina Healthcare, Inc (NYSE:MOH)

Wealthfront Advisers LLC grew its holdings in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 168.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,980 shares of the company's stock after purchasing an additional 22,565 shares during the quarter. Wealthfront Advisers LLC owned approximately 0.07% of Molina Healthcare worth $11,851,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MOH. Hohimer Wealth Management LLC increased its stake in Molina Healthcare by 556.2% in the first quarter. Hohimer Wealth Management LLC now owns 18,171 shares of the company's stock valued at $5,985,000 after purchasing an additional 15,402 shares during the last quarter. CWM LLC increased its position in Molina Healthcare by 108.7% during the 1st quarter. CWM LLC now owns 17,704 shares of the company's stock worth $5,832,000 after purchasing an additional 9,220 shares in the last quarter. Ballentine Partners LLC raised its holdings in Molina Healthcare by 3.3% in the first quarter. Ballentine Partners LLC now owns 3,268 shares of the company's stock valued at $1,076,000 after buying an additional 105 shares during the period. Cerity Partners LLC lifted its position in Molina Healthcare by 67.0% during the first quarter. Cerity Partners LLC now owns 19,372 shares of the company's stock valued at $6,381,000 after buying an additional 7,774 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in Molina Healthcare by 14.0% during the first quarter. Alps Advisors Inc. now owns 1,140 shares of the company's stock worth $376,000 after buying an additional 140 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Molina Healthcare Price Performance

Shares of NYSE MOH traded down $11.52 during mid-day trading on Thursday, reaching $204.54. 1,137,480 shares of the company traded hands, compared to its average volume of 724,558. Molina Healthcare, Inc has a fifty-two week low of $201.17 and a fifty-two week high of $365.23. The firm has a market cap of $11.09 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 0.90 and a beta of 0.55. The stock has a fifty day simple moving average of $287.00 and a 200-day simple moving average of $301.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $6.08 earnings per share for the quarter, beating the consensus estimate of $5.96 by $0.12. Molina Healthcare had a return on equity of 28.38% and a net margin of 2.81%. The business had revenue of $11.15 billion during the quarter, compared to analysts' expectations of $10.86 billion. During the same quarter last year, the business posted $5.73 earnings per share. The company's quarterly revenue was up 12.2% on a year-over-year basis. Equities research analysts anticipate that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, Director Richard M. Schapiro sold 669 shares of Molina Healthcare stock in a transaction that occurred 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 transaction, the director owned 11,244 shares in the company, valued at approximately $3,603,702. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Joseph M. Zubretsky sold 87,500 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $320.06, for a total value of $28,005,250.00. Following the sale, the chief executive officer owned 257,715 shares of the company's stock, 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. Insiders own 1.10% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MOH shares. Truist Financial decreased their price target on Molina Healthcare from $400.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday. Mizuho set a $330.00 price objective on shares of Molina Healthcare and gave the stock an "outperform" rating in a report on Friday, July 11th. Sanford C. Bernstein initiated coverage on shares of Molina Healthcare in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $414.00 price objective for the company. Morgan Stanley cut shares of Molina Healthcare from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $364.00 to $266.00 in a report on Thursday, July 10th. Finally, Baird R W cut Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average 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.