D. E. Shaw & Co. Inc. increased its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 46.9% in the first quarter, Holdings Channel.com reports. The firm owned 184,984 shares of the company’s stock after purchasing an additional 59,038 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Molina Healthcare were worth $43,242,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MOH. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Molina Healthcare by 315.6% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 49,874 shares of the company’s stock worth $7,080,000 after purchasing an additional 37,873 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Molina Healthcare by 30.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,936 shares of the company’s stock valued at $412,000 after buying an additional 456 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Molina Healthcare during the 4th quarter valued at about $371,000. LPL Financial LLC lifted its holdings in Molina Healthcare by 887.8% during the 4th quarter. LPL Financial LLC now owns 13,573 shares of the company’s stock valued at $2,887,000 after buying an additional 12,199 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Molina Healthcare during the 4th quarter valued at about $200,000. 93.92% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on MOH shares. Truist Securities lifted their price objective on shares of Molina Healthcare from $260.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, April 14th. Seaport Res Ptn reiterated a “neutral” rating on shares of Molina Healthcare in a report on Friday, July 9th. Seaport Global Securities assumed coverage on shares of Molina Healthcare in a report on Friday, July 9th. They issued a “neutral” rating and a $257.25 price target for the company. Truist boosted their price target on shares of Molina Healthcare from $260.00 to $290.00 in a report on Wednesday, April 14th. Finally, Wells Fargo & Company assumed coverage on shares of Molina Healthcare in a report on Monday, May 24th. They issued an “underweight” rating and a $253.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $259.94.
Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, April 28th. The company reported $4.44 earnings per share for the quarter, topping the consensus estimate of $3.78 by $0.66. The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.08 billion. Molina Healthcare had a net margin of 3.38% and a return on equity of 33.87%. Molina Healthcare’s revenue was up 43.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.92 EPS. Analysts anticipate that Molina Healthcare, Inc. will post 13.38 EPS for the current year.
In other Molina Healthcare news, Director Ronna Romney sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 12th. The shares were sold at an average price of $261.05, for a total transaction of $326,312.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas L. Tran sold 3,196 shares of the company’s stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $258.03, for a total transaction of $824,663.88. Following the completion of the sale, the executive vice president now directly owns 31,020 shares in the company, valued at $8,004,090.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,746 shares of company stock worth $2,024,987. 1.49% of the stock is owned by insiders.
About Molina Healthcare
Molina Healthcare, Inc provides managed health care services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. The company operates in two segments, Health Plans and Other. As of December 31, 2020, it served approximately 4.0 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs in 15 states.
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