Scion Asset Management LLC Acquires Shares of 24,530 Molina Healthcare, Inc. (NYSE:MOH)

Scion Asset Management LLC purchased a new stake in Molina Healthcare, Inc. (NYSE:MOH) in the second quarter, HoldingsChannel reports. The fund purchased 24,530 shares of the company’s stock, valued at approximately $7,293,000. Molina Healthcare comprises about 13.9% of Scion Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position.

A number of other institutional investors have also recently made changes to their positions in MOH. Innealta Capital LLC purchased a new position in shares of Molina Healthcare during the second quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC purchased a new position in Molina Healthcare in the second quarter worth $40,000. AM Squared Ltd purchased a new position in Molina Healthcare in the second quarter worth $59,000. Mather Group LLC. purchased a new position in Molina Healthcare in the first quarter worth $123,000. Finally, Lindbrook Capital LLC grew its holdings in Molina Healthcare by 47.0% in the first quarter. Lindbrook Capital LLC now owns 322 shares of the company’s stock worth $132,000 after purchasing an additional 103 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MOH. Jefferies Financial Group cut their price target on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. TD Cowen dropped their price objective on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird assumed coverage on shares of Molina Healthcare in a report on Thursday, May 30th. They set an “outperform” rating and a $405.00 price objective on the stock. Baird R W raised shares of Molina Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Stephens reissued an “equal weight” rating and set a $320.00 price objective on shares of Molina Healthcare in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $378.00.

Insiders Place Their Bets

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

Molina Healthcare Trading Down 1.8 %

Shares of Molina Healthcare stock opened at $338.34 on Friday. Molina Healthcare, Inc. has a fifty-two week low of $282.96 and a fifty-two week high of $423.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a 50-day simple moving average of $339.59 and a two-hundred day simple moving average of $342.18. The company has a market cap of $19.83 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.21 and a beta of 0.57.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $5.73 by $0.13. The firm had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the company posted $5.65 EPS. As a group, equities analysts predict that Molina Healthcare, Inc. will post 23.5 earnings per share for the current fiscal year.

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.