Raymond James & Associates Sells 5,050 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Raymond James & Associates lessened its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 16.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,458 shares of the company’s stock after selling 5,050 shares during the period. Raymond James & Associates’ holdings in Molina Healthcare were worth $7,866,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its holdings in shares of Molina Healthcare by 31,696.0% during the fourth quarter. International Assets Investment Management LLC now owns 7,949 shares of the company’s stock valued at $2,872,000 after acquiring an additional 7,924 shares in the last quarter. CWM LLC increased its stake in Molina Healthcare by 3.7% during the 4th quarter. CWM LLC now owns 1,446 shares of the company’s stock valued at $522,000 after purchasing an additional 51 shares in the last quarter. GAMMA Investing LLC bought a new stake in Molina Healthcare during the 4th quarter valued at about $106,000. Truist Financial Corp raised its holdings in Molina Healthcare by 14.8% in the fourth quarter. Truist Financial Corp now owns 98,626 shares of the company’s stock worth $35,635,000 after buying an additional 12,728 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Molina Healthcare by 18.9% in the fourth quarter. Russell Investments Group Ltd. now owns 93,582 shares of the company’s stock worth $33,741,000 after buying an additional 14,856 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In related news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total transaction of $339,210.00. Following the transaction, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the transaction, the chief accounting officer now directly owns 9,473 shares in the company, valued at $3,282,583.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total transaction of $339,210.00. Following the sale, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Molina Healthcare Price Performance

NYSE MOH opened at $347.29 on Tuesday. The company has a 50-day moving average price of $317.29 and a 200-day moving average price of $349.55. Molina Healthcare, Inc. has a 52 week low of $282.96 and a 52 week high of $423.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $20.35 billion, a P/E ratio of 18.84, a PEG ratio of 1.20 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The business had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same period in the prior year, the company earned $5.65 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. Equities research analysts anticipate that Molina Healthcare, Inc. will post 23.5 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MOH shares. Truist Financial reduced their price target on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reduced their target price on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. decreased their price target on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company increased their price objective on Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Finally, Robert W. Baird began coverage on Molina Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $405.00 target price for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $378.00.

About Molina Healthcare

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.