Texas Permanent School Fund boosted its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 26.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,861 shares of the company’s stock after purchasing an additional 8,206 shares during the period. Texas Permanent School Fund owned about 0.06% of Molina Healthcare worth $5,779,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Aperio Group LLC lifted its position in shares of Molina Healthcare by 1.6% during the 3rd quarter. Aperio Group LLC now owns 22,234 shares of the company’s stock valued at $3,306,000 after buying an additional 360 shares during the last quarter. World Asset Management Inc lifted its position in shares of Molina Healthcare by 13.9% during the 3rd quarter. World Asset Management Inc now owns 3,047 shares of the company’s stock valued at $453,000 after buying an additional 372 shares during the last quarter. Vident Investment Advisory LLC lifted its position in shares of Molina Healthcare by 1.5% during the 2nd quarter. Vident Investment Advisory LLC now owns 38,230 shares of the company’s stock valued at $3,744,000 after buying an additional 573 shares during the last quarter. First Mercantile Trust Co. lifted its position in shares of Molina Healthcare by 22.5% during the 2nd quarter. First Mercantile Trust Co. now owns 3,442 shares of the company’s stock valued at $337,000 after buying an additional 632 shares during the last quarter. Finally, Louisiana State Employees Retirement System lifted its position in shares of Molina Healthcare by 5.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock valued at $1,254,000 after buying an additional 700 shares during the last quarter.
A number of research analysts have recently commented on the company. Zacks Investment Research raised Molina Healthcare from a “hold” rating to a “strong-buy” rating and set a $113.00 price target on the stock in a research report on Saturday, June 30th. Morgan Stanley upped their price target on Molina Healthcare from $100.00 to $108.00 and gave the company an “overweight” rating in a research report on Friday, July 13th. Wells Fargo & Co upped their price target on Molina Healthcare from $92.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 2nd. Evercore ISI assumed coverage on Molina Healthcare in a report on Tuesday, October 9th. They set an “in-line” rating and a $158.00 price objective on the stock. Finally, SunTrust Banks increased their price objective on Molina Healthcare to $120.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Molina Healthcare presently has a consensus rating of “Hold” and an average target price of $130.62.
Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Tuesday, July 31st. The company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $1.99. The business had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Molina Healthcare had a positive return on equity of 23.01% and a negative net margin of 0.26%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($4.01) EPS. As a group, research analysts expect that Molina Healthcare, Inc. will post 6.69 EPS for the current year.
In related news, insider James Woys acquired 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were acquired at an average price of $148.79 per share, with a total value of $3,719,750.00. Following the acquisition, the insider now owns 17,203 shares of the company’s stock, valued at approximately $2,559,634.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronna Romney sold 200 shares of the stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $138.11, for a total value of $27,622.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,717 shares of company stock worth $1,289,932 in the last three months. 0.65% of the stock is currently owned by insiders.
Molina Healthcare Profile
Molina Healthcare, Inc provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program in the United States. It operates through three segments: Health Plans, Molina Medicaid Solutions, and Other.
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