Frank Rimerman Advisors LLC Grows Stock Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Frank Rimerman Advisors LLC raised its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 17,583.3% in the 2nd quarter, Holdings Channel reports. The fund owned 2,122 shares of the company’s stock after acquiring an additional 2,110 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Molina Healthcare were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MOH. Innealta Capital LLC acquired a new position in shares of Molina Healthcare in the second quarter valued at approximately $36,000. Ashton Thomas Private Wealth LLC purchased a new position in Molina Healthcare during the 2nd quarter worth $40,000. AM Squared Ltd acquired a new stake in shares of Molina Healthcare in the 2nd quarter worth $59,000. Mather Group LLC. purchased a new stake in shares of Molina Healthcare in the first quarter valued at about $123,000. Finally, Lindbrook Capital LLC increased its stake in shares of Molina Healthcare by 47.0% during the first quarter. Lindbrook Capital LLC now owns 322 shares of the company’s stock worth $132,000 after acquiring an additional 103 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MOH has been the topic of a number of analyst reports. Jefferies Financial Group lowered their price objective on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Truist Financial lowered their price target on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Robert W. Baird initiated coverage on shares of Molina Healthcare in a research note on Thursday, May 30th. They issued an “outperform” rating and a $405.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $378.00.

Insider Activity at Molina Healthcare

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

Molina Healthcare Stock Down 1.0 %

MOH stock opened at $347.98 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57. The company’s 50 day simple moving average is $336.88 and its 200-day simple moving average is $342.52. Molina Healthcare, Inc. has a 12 month low of $282.96 and a 12 month high of $423.92. The firm has a market capitalization of $20.39 billion, a PE ratio of 18.88, a P/E/G ratio of 1.20 and a beta of 0.57.

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

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.