Public Sector Pension Investment Board Grows Position in Molina Healthcare, Inc. (NYSE:MOH)

Public Sector Pension Investment Board increased its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 76.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,227 shares of the company’s stock after buying an additional 967 shares during the quarter. Public Sector Pension Investment Board’s holdings in Molina Healthcare were worth $662,000 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. Frank Rimerman Advisors LLC raised its holdings in shares of Molina Healthcare by 17,583.3% during the second quarter. Frank Rimerman Advisors LLC now owns 2,122 shares of the company’s stock valued at $631,000 after purchasing an additional 2,110 shares during the last quarter. ProShare Advisors LLC grew its position in Molina Healthcare by 7.2% in the 2nd quarter. ProShare Advisors LLC now owns 11,097 shares of the company’s stock worth $3,299,000 after purchasing an additional 745 shares during the period. Ensign Peak Advisors Inc grew its position in Molina Healthcare by 7.9% in the 2nd quarter. Ensign Peak Advisors Inc now owns 35,741 shares of the company’s stock worth $10,626,000 after purchasing an additional 2,615 shares during the period. MQS Management LLC purchased a new stake in Molina Healthcare during the 2nd quarter valued at $269,000. Finally, XTX Topco Ltd lifted its holdings in shares of Molina Healthcare by 176.2% during the 2nd quarter. XTX Topco Ltd now owns 1,823 shares of the company’s stock valued at $542,000 after buying an additional 1,163 shares during the period. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MOH has been the subject of several research analyst reports. TD Cowen cut 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. Jefferies Financial Group lowered their price objective on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their target price on shares of Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Stephens reiterated an “equal weight” rating and issued a $320.00 price target on shares of Molina Healthcare in a research report on Thursday, July 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research note on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $378.00.

Molina Healthcare Trading Down 3.0 %

Shares of MOH stock opened at $331.80 on Thursday. 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 stock has a fifty day simple moving average of $342.86 and a two-hundred day simple moving average of $340.01. The firm has a market capitalization of $19.44 billion, a PE ratio of 18.00, a PEG ratio of 1.21 and a beta of 0.57. Molina Healthcare, Inc. has a 52-week low of $282.96 and a 52-week high of $423.92.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $9.75 billion. During the same quarter last year, the business posted $5.65 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. On average, analysts predict that Molina Healthcare, Inc. will post 23.5 EPS for the current fiscal year.

Insider Activity

In related news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction that occurred 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 sale, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 18,025 shares of the company’s stock, valued at $6,114,260.25. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.