Prudential PLC Raises Stake in Molina Healthcare, Inc. (NYSE:MOH)

Prudential PLC boosted its position in Molina Healthcare, Inc. (NYSE:MOH) by 267.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,112 shares of the company’s stock after purchasing an additional 1,537 shares during the period. Prudential PLC’s holdings in Molina Healthcare were worth $628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC purchased a new stake in Molina Healthcare in the second quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC purchased a new stake in Molina Healthcare in the second quarter worth approximately $40,000. Principal Securities Inc. purchased a new stake in Molina Healthcare in the fourth quarter worth approximately $42,000. AM Squared Ltd purchased a new stake in Molina Healthcare in the second quarter worth approximately $59,000. Finally, Mather Group LLC. purchased a new stake in shares of Molina Healthcare during the first quarter valued at approximately $123,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Price Performance

MOH opened at $352.94 on Friday. The stock has a fifty day simple moving average of $326.76 and a two-hundred day simple moving average of $345.08. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57. Molina Healthcare, Inc. has a 12-month low of $282.96 and a 12-month high of $423.92.

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

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Robert W. Baird assumed coverage on Molina Healthcare in a research note on Thursday, May 30th. They set an “outperform” rating and a $405.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective 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. Stephens reissued an “equal weight” rating and set a $320.00 price objective on shares of Molina Healthcare in a research note on Thursday, July 25th. Truist Financial dropped their price objective on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, Jefferies Financial Group dropped their price objective 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.