Hancock Whitney Corp decreased its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 6.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 34,001 shares of the company’s stock after selling 2,293 shares during the quarter. Hancock Whitney Corp’s holdings in Molina Healthcare were worth $4,867,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Advisors Preferred LLC purchased a new position in Molina Healthcare in the second quarter worth $37,000. Stonebridge Capital Advisors LLC acquired a new stake in Molina Healthcare in the second quarter valued at $57,000. Financial Gravity Wealth Inc. grew its holdings in Molina Healthcare by 35.0% in the second quarter. Financial Gravity Wealth Inc. now owns 501 shares of the company’s stock valued at $72,000 after purchasing an additional 130 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Molina Healthcare by 108.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 997 shares of the company’s stock valued at $142,000 after purchasing an additional 519 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in Molina Healthcare in the second quarter valued at $201,000. Hedge funds and other institutional investors own 96.76% of the company’s stock.
Shares of MOH traded up $0.94 during trading hours on Thursday, reaching $111.03. 3,716 shares of the company traded hands, compared to its average volume of 670,348. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $6.89 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 0.99 and a beta of 1.14. Molina Healthcare, Inc. has a fifty-two week low of $105.28 and a fifty-two week high of $159.00. The stock has a fifty day simple moving average of $122.24 and a 200 day simple moving average of $133.85.
In other Molina Healthcare news, Director Ronna Romney sold 375 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $131.63, for a total value of $49,361.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by company insiders.
Several research firms have weighed in on MOH. Deutsche Bank began coverage on Molina Healthcare in a report on Thursday, September 12th. They issued a “buy” rating and a $145.00 target price on the stock. ValuEngine raised Molina Healthcare from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley lowered their target price on Molina Healthcare from $184.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Bank of America reaffirmed an “underperform” rating and set a $140.00 price objective (up previously from $132.00) on shares of Molina Healthcare in a research note on Wednesday, July 31st. Finally, Stephens set a $150.00 price objective on Molina Healthcare and gave the company a “hold” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $160.45.
About Molina Healthcare
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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