Victory Capital Management Inc. Purchases 24,778 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Victory Capital Management Inc. boosted its position in Molina Healthcare, Inc. (NYSE:MOH) by 38.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 89,083 shares of the company’s stock after purchasing an additional 24,778 shares during the period. Victory Capital Management Inc.’s holdings in Molina Healthcare were worth $26,484,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank bought a new stake in Molina Healthcare in the fourth quarter valued at approximately $275,143,000. Wellington Management Group LLP lifted its holdings in Molina Healthcare by 12.8% during the 4th quarter. Wellington Management Group LLP now owns 3,831,100 shares of the company’s stock valued at $1,384,215,000 after purchasing an additional 436,060 shares during the last quarter. Swedbank AB bought a new position in Molina Healthcare during the first quarter worth $69,320,000. Capital Research Global Investors increased its holdings in shares of Molina Healthcare by 5.4% in the fourth quarter. Capital Research Global Investors now owns 2,430,283 shares of the company’s stock valued at $878,086,000 after purchasing an additional 123,894 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Molina Healthcare by 127.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 192,847 shares of the company’s stock valued at $69,678,000 after purchasing an additional 107,895 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling at Molina Healthcare

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on MOH. Baird R W raised shares of Molina Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Stephens reaffirmed an “equal weight” rating and issued a $320.00 target price on shares of Molina Healthcare in a research report on Thursday, July 25th. Truist Financial lowered their target price on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Jefferies Financial Group reduced their price target on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $378.00.

Molina Healthcare Stock Up 3.7 %

MOH stock opened at $344.73 on Thursday. Molina Healthcare, Inc. has a 52 week low of $282.96 and a 52 week high of $423.92. The business has a 50-day simple moving average of $325.79 and a 200 day simple moving average of $345.08. 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 cap of $20.20 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. 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 firm earned $5.65 EPS. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. Sell-side analysts anticipate 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.