Molina Healthcare, Inc (NYSE:MOH - Get Free Report) was the target of a significant growth in short interest in August. As of August 15th, there was short interest totaling 2,240,000 shares, a growth of 28.0% from the July 31st total of 1,750,000 shares. Based on an average daily trading volume, of 1,380,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 4.2% of the company's stock are sold short. Currently, 4.2% of the company's stock are sold short. Based on an average daily trading volume, of 1,380,000 shares, the days-to-cover ratio is presently 1.6 days.
Insider Transactions at Molina Healthcare
In other news, COO James Woys bought 10,000 shares of the stock in a transaction on Monday, August 4th. The shares were purchased 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 directly owned 74,331 shares of the company's stock, valued at $11,591,176.14. This trade represents a 15.54% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronna Romney sold 700 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $153.74, for a total value of $107,618.00. Following the completion of the transaction, the director owned 17,131 shares in the company, valued at $2,633,719.94. This trade represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Molina Healthcare by 46.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,838,043 shares of the company's stock worth $1,264,214,000 after purchasing an additional 1,216,903 shares during the last quarter. Norges Bank bought a new position in shares of Molina Healthcare in the 2nd quarter worth $212,113,000. GAMMA Investing LLC boosted its position in shares of Molina Healthcare by 74,593.7% in the 1st quarter. GAMMA Investing LLC now owns 667,015 shares of the company's stock worth $219,708,000 after purchasing an additional 666,122 shares during the last quarter. Voloridge Investment Management LLC boosted its position in shares of Molina Healthcare by 1,641.3% in the 4th quarter. Voloridge Investment Management LLC now owns 409,807 shares of the company's stock worth $119,274,000 after purchasing an additional 386,273 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Molina Healthcare by 25.9% during the 2nd quarter. Invesco Ltd. now owns 1,601,574 shares of the company's stock worth $477,109,000 after buying an additional 329,759 shares during the period. 98.50% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently weighed in on MOH shares. Wall Street Zen downgraded Molina Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Mizuho decreased their target price on Molina Healthcare from $400.00 to $330.00 and set an "outperform" rating for the company in a research note on Friday, July 11th. JPMorgan Chase & Co. decreased their target price on Molina Healthcare from $272.00 to $184.00 and set a "neutral" rating for the company in a research note on Tuesday, July 29th. Barclays decreased their target price on 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. Finally, UBS Group decreased their target price on Molina Healthcare from $260.00 to $180.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $225.18.
View Our Latest Analysis on Molina Healthcare
Molina Healthcare Price Performance
NYSE MOH traded down $7.85 during trading hours on Friday, reaching $180.59. 1,011,293 shares of the company's stock were exchanged, compared to its average volume of 1,448,624. The stock has a market cap of $9.79 billion, a PE ratio of 8.90 and a beta of 0.54. Molina Healthcare has a one year low of $151.95 and a one year high of $365.23. The firm has a fifty day moving average of $179.44 and a 200-day moving average of $266.06. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.77.
Molina Healthcare (NYSE:MOH - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $5.48 EPS for the quarter, missing analysts' consensus estimates of $5.50 by ($0.02). The business had revenue of $11.43 billion for the quarter, compared to the consensus estimate of $10.94 billion. Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%.The firm's revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the company earned $5.86 earnings per share. On average, equities research analysts predict that Molina Healthcare will post 24.4 earnings per share for the current fiscal year.
About Molina Healthcare
(
Get Free Report)
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.
Featured Articles
Before you consider Molina Healthcare, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Molina Healthcare wasn't on the list.
While Molina Healthcare currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report