Kentucky Retirement Systems Decreases Stock Position in Molina Healthcare, Inc. (NYSE:MOH)

Kentucky Retirement Systems lessened its stake in Molina Healthcare, Inc. (NYSE:MOH) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,405 shares of the company’s stock after selling 260 shares during the quarter. Kentucky Retirement Systems’ holdings in Molina Healthcare were worth $1,810,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackBarn Capital Partners LP purchased a new position in Molina Healthcare in the 4th quarter worth approximately $15,139,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Molina Healthcare by 69.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,809 shares of the company’s stock worth $4,851,000 after acquiring an additional 4,840 shares during the period. Overbrook Management Corp boosted its holdings in Molina Healthcare by 1.1% in the 4th quarter. Overbrook Management Corp now owns 36,908 shares of the company’s stock worth $13,335,000 after acquiring an additional 391 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Molina Healthcare by 76.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 27,301 shares of the company’s stock valued at $9,864,000 after purchasing an additional 11,820 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of Molina Healthcare by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,208 shares of the company’s stock valued at $1,159,000 after purchasing an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insiders Place Their Bets

In other Molina Healthcare news, Director Ronna Romney sold 250 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total value of $85,817.50. Following the sale, the director now directly owns 16,945 shares of the company’s stock, valued at $5,816,710.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO James Woys sold 10,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total value of $3,451,500.00. Following the completion of the transaction, the chief operating officer now owns 53,613 shares of the company’s stock, valued at $18,504,526.95. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronna Romney sold 250 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total value of $85,817.50. Following the completion of the transaction, the director now directly owns 16,945 shares of the company’s stock, valued at approximately $5,816,710.15. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on MOH. Wells Fargo & Company cut their target price on Molina Healthcare from $375.00 to $315.00 and set an “equal weight” rating on the stock in a research report on Monday, July 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research report on Tuesday, July 23rd. Truist Financial cut their target price on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. JPMorgan Chase & Co. cut their target price on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, TD Cowen cut their target price on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $376.18.

Molina Healthcare Stock Performance

NYSE MOH traded up $11.19 during trading hours on Friday, hitting $335.36. The company had a trading volume of 1,251,147 shares, compared to its average volume of 770,644. Molina Healthcare, Inc. has a fifty-two week low of $282.96 and a fifty-two week high of $423.92. The company has a quick ratio of 1.49, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $306.95 and a 200-day simple moving average of $352.98. The firm has a market cap of $19.65 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.05 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.13. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The firm had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. During the same period last year, the company earned $5.65 earnings per share. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities analysts predict that Molina Healthcare, Inc. will post 23.16 EPS for the current year.

Molina Healthcare Company 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.