Retirement Systems of Alabama Boosts Stake in Molina Healthcare, Inc. (NYSE:MOH)

Retirement Systems of Alabama lifted its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 1.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,926 shares of the company’s stock after buying an additional 123 shares during the period. Retirement Systems of Alabama’s holdings in Molina Healthcare were worth $3,843,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. McIlrath & Eck LLC acquired a new stake in Molina Healthcare during the fourth quarter worth about $34,000. Principal Securities Inc. acquired a new stake in Molina Healthcare during the fourth quarter worth about $42,000. Access Investment Management LLC acquired a new stake in Molina Healthcare during the fourth quarter worth about $99,000. Cullen Frost Bankers Inc. increased its position in Molina Healthcare by 22.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 330 shares of the company’s stock worth $119,000 after purchasing an additional 60 shares during the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of Molina Healthcare during the first quarter valued at about $123,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

MOH has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research report on Monday, August 19th. Truist Financial dropped 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. Wells Fargo & Company lifted their price target on shares of Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Jefferies Financial Group dropped their price target on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, Baird R W upgraded shares of Molina Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.00.

Molina Healthcare Stock Up 0.7 %

Shares of Molina Healthcare stock opened at $349.81 on Wednesday. Molina Healthcare, Inc. has a 52-week low of $282.96 and a 52-week high of $423.92. The company has a 50 day moving average of $318.16 and a 200 day moving average of $349.28. 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 company has a market capitalization of $20.50 billion, a P/E ratio of 18.98, a P/E/G ratio of 1.20 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.75 billion. During the same quarter in the previous year, the firm earned $5.65 earnings per share. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, research analysts forecast that Molina Healthcare, Inc. will post 23.5 EPS for the current fiscal 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.