State of New Jersey Common Pension Fund D Reduces Stock Holdings in Molina Healthcare, Inc. (NYSE:MOH)

State of New Jersey Common Pension Fund D decreased its stake in Molina Healthcare, Inc. (NYSE:MOH) by 32.4% in the second quarter, Holdings Channel.com reports. The firm owned 21,244 shares of the company’s stock after selling 10,170 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Molina Healthcare were worth $6,316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MOH. Private Advisor Group LLC purchased a new position in shares of Molina Healthcare in the 4th quarter worth approximately $201,000. Principal Securities Inc. purchased a new position in shares of Molina Healthcare in the 4th quarter worth approximately $42,000. Janney Montgomery Scott LLC boosted its holdings in shares of Molina Healthcare by 7.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 3,231 shares of the company’s stock worth $1,168,000 after purchasing an additional 226 shares during the period. Quadrant Capital Group LLC boosted its holdings in Molina Healthcare by 6.5% during the 4th quarter. Quadrant Capital Group LLC now owns 886 shares of the company’s stock valued at $320,000 after acquiring an additional 54 shares during the period. Finally, Kentucky Retirement Systems boosted its holdings in Molina Healthcare by 4.1% during the 4th quarter. Kentucky Retirement Systems now owns 4,665 shares of the company’s stock valued at $1,686,000 after acquiring an additional 184 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Trading Up 1.5 %

Shares of NYSE:MOH opened at $358.20 on Monday. The business’s 50-day moving average is $329.20 and its 200 day moving average is $344.44. Molina Healthcare, Inc. has a 1 year low of $282.96 and a 1 year high of $423.92. The firm has a market capitalization of $20.99 billion, a P/E ratio of 19.44, a P/E/G ratio of 1.20 and a beta of 0.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57.

Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) 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 company had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. During the same period in the prior year, the company posted $5.65 EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, research analysts predict that Molina Healthcare, Inc. will post 23.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MOH has been the subject of a number of recent analyst reports. TD Cowen dropped their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. Truist Financial decreased their target price on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Robert W. Baird assumed coverage on Molina Healthcare in a research report on Thursday, May 30th. They set an “outperform” rating and a $405.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $378.00.

Insider Activity at Molina Healthcare

In related news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,114,260.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was 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 approximately $6,114,260.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were 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 in the company, valued at approximately $3,282,583.96. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Molina Healthcare 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.