Summit Global Investments Sells 10,536 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Summit Global Investments lessened its stake in shares of Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 17.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,628 shares of the company's stock after selling 10,536 shares during the quarter. Molina Healthcare comprises about 1.2% of Summit Global Investments' holdings, making the stock its 17th biggest holding. Summit Global Investments owned 0.08% of Molina Healthcare worth $17,570,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MOH. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Molina Healthcare during the third quarter worth about $30,000. McIlrath & Eck LLC purchased a new position in shares of Molina Healthcare during the 4th quarter worth $34,000. VisionPoint Advisory Group LLC boosted its position in shares of Molina Healthcare by 105.6% in the third quarter. VisionPoint Advisory Group LLC now owns 111 shares of the company's stock worth $36,000 after acquiring an additional 57 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Molina Healthcare in the 4th quarter valued at about $43,000. Finally, Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Molina Healthcare by 3,933.3% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 121 shares of the company's stock valued at $43,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Analyst Ratings Changes

MOH has been the topic of several analyst reports. Stephens reaffirmed an "equal weight" rating and set a $390.00 price target on shares of Molina Healthcare in a research note on Thursday, April 25th. Wells Fargo & Company dropped their target price on Molina Healthcare from $410.00 to $375.00 and set an "equal weight" rating on the stock in a report on Monday. StockNews.com downgraded Molina Healthcare from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 8th. Bank of America cut shares of Molina Healthcare from a "neutral" rating to an "underperform" rating and set a $439.00 target price for the company. in a report on Thursday, March 28th. Finally, TD Cowen dropped their price target on shares of Molina Healthcare from $453.00 to $412.00 and set a "buy" rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Molina Healthcare presently has a consensus rating of "Hold" and an average target price of $398.55.

Molina Healthcare Stock Performance

Shares of NYSE MOH traded up $0.53 during mid-day trading on Thursday, hitting $339.40. The company had a trading volume of 392,463 shares, compared to its average volume of 402,845. Molina Healthcare, Inc. has a 12 month low of $266.35 and a 12 month high of $423.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.49. The business's 50-day simple moving average is $385.50 and its 200-day simple moving average is $371.87. The firm has a market cap of $19.89 billion, a P/E ratio of 18.42, a PEG ratio of 1.05 and a beta of 0.55.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its earnings results on Wednesday, April 24th. The company reported $5.73 EPS for the quarter, beating the consensus estimate of $5.46 by $0.27. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. The company had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.45 billion. During the same quarter in the previous year, the company earned $5.81 EPS. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts predict that Molina Healthcare, Inc. will post 23.59 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now owns 12,207 shares of the company's stock, valued at $4,688,220.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of Molina Healthcare stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now owns 12,207 shares of the company's stock, valued at $4,688,220.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Mark Lowell Keim sold 15,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $386.56, for a total value of $5,798,400.00. Following the transaction, the chief financial officer now owns 36,531 shares of the company's stock, valued at $14,121,423.36. The disclosure for this sale can be found here. In the last three months, insiders sold 16,711 shares of company stock valued at $6,472,517. 1.10% of the stock is currently owned by insiders.

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.