Texas Permanent School Fund Corp Sells 2,390 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Texas Permanent School Fund Corp decreased its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 19.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,599 shares of the company’s stock after selling 2,390 shares during the period. Texas Permanent School Fund Corp’s holdings in Molina Healthcare were worth $2,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its stake in Molina Healthcare by 516.4% during the 1st quarter. Cetera Investment Advisers now owns 10,238 shares of the company’s stock worth $4,206,000 after acquiring an additional 8,577 shares during the period. BlackBarn Capital Partners LP purchased a new stake in Molina Healthcare during the 4th quarter valued at approximately $15,139,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Molina Healthcare by 69.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,809 shares of the company’s stock valued at $4,851,000 after buying an additional 4,840 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Molina Healthcare by 76.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 27,301 shares of the company’s stock valued at $9,864,000 after buying an additional 11,820 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Molina Healthcare by 5.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,208 shares of the company’s stock valued at $1,159,000 after buying an additional 167 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Insider Activity

In other news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total transaction of $339,210.00. Following the transaction, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total transaction of $339,210.00. Following the transaction, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Maurice Hebert sold 393 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction of $136,182.36. Following the transaction, 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. Corporate insiders own 1.10% of the company’s stock.

Molina Healthcare Stock Up 1.5 %

Shares of MOH opened at $358.20 on Monday. 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. Molina Healthcare, Inc. has a 12-month low of $282.96 and a 12-month high of $423.92. 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 firm has a fifty day moving average price of $329.20 and a 200-day moving average price of $344.44.

Molina Healthcare (NYSE:MOH) last released its quarterly 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. The business had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.75 billion. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.65 earnings per share. Equities research analysts expect that Molina Healthcare, Inc. will post 23.5 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MOH shares. Truist Financial cut their price objective on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a report on Monday, July 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a report on Tuesday, September 10th. JPMorgan Chase & Co. cut their price objective on shares of Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, Baird R W upgraded shares of Molina Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. One investment 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 company’s stock. Based on data from MarketBeat.com, Molina Healthcare has an average rating of “Moderate Buy” and an average target price of $378.00.

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.