Price T Rowe Associates Inc. MD Sells 1,318,148 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Price T Rowe Associates Inc. MD lessened its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 33.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,621,140 shares of the company's stock after selling 1,318,148 shares during the period. Price T Rowe Associates Inc. MD owned 4.58% of Molina Healthcare worth $762,883,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MOH. Versant Capital Management Inc boosted its stake in Molina Healthcare by 83.1% in the 4th quarter. Versant Capital Management Inc now owns 163 shares of the company's stock worth $47,000 after purchasing an additional 74 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in Molina Healthcare in the 4th quarter worth about $52,000. Hurley Capital LLC purchased a new position in Molina Healthcare in the 4th quarter worth about $55,000. EverSource Wealth Advisors LLC raised its position in Molina Healthcare by 81.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 196 shares of the company's stock worth $57,000 after buying an additional 88 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its position in Molina Healthcare by 337.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 201 shares of the company's stock worth $58,000 after buying an additional 155 shares during the last quarter. Institutional investors own 98.50% of the company's stock.

Insiders Place Their Bets

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $301.33, for a total value of $301,330.00. Following the completion of the transaction, the director now directly owns 17,375 shares in the company, valued at $5,235,608.75. This represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Molina Healthcare Stock Performance

Molina Healthcare stock traded up $0.87 during midday trading on Tuesday, hitting $321.07. The stock had a trading volume of 107,751 shares, compared to its average volume of 670,140. The firm's fifty day moving average is $320.07 and its two-hundred day moving average is $307.33. The company has a market capitalization of $17.56 billion, a PE ratio of 15.72, a P/E/G ratio of 1.06 and a beta of 0.70. Molina Healthcare, Inc. has a 52-week low of $262.32 and a 52-week high of $365.23. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69.

Molina Healthcare (NYSE:MOH - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 earnings per share for the quarter, topping the consensus estimate of $5.96 by $0.12. Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. The business had revenue of $11.15 billion during the quarter, compared to the consensus estimate of $10.86 billion. During the same period in the prior year, the company posted $5.73 EPS. The firm's revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts forecast that Molina Healthcare, Inc. will post 24.4 EPS for the current year.

Wall Street Analyst Weigh In

MOH has been the subject of a number of recent analyst reports. Baird R W lowered Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Wells Fargo & Company raised Molina Healthcare from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $295.00 to $372.00 in a research report on Wednesday, March 5th. Truist Financial boosted their target price on Molina Healthcare from $340.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Barclays boosted their target price on Molina Healthcare from $339.00 to $362.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Guggenheim began coverage on shares of Molina Healthcare in a research report on Wednesday, April 9th. They set a "neutral" rating for the company. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $365.38.

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.