Ritholtz Wealth Management Reduces Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Ritholtz Wealth Management reduced its stake in Molina Healthcare, Inc. (NYSE:MOH) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,775 shares of the company’s stock after selling 31 shares during the quarter. Ritholtz Wealth Management’s holdings in Molina Healthcare were worth $612,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Swedbank AB purchased a new position in shares of Molina Healthcare in the first quarter worth $69,320,000. Jupiter Asset Management Ltd. increased its position in shares of Molina Healthcare by 434.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock valued at $55,181,000 after acquiring an additional 150,890 shares during the period. AQR Capital Management LLC lifted its position in Molina Healthcare by 36.2% during the 2nd quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock worth $137,810,000 after acquiring an additional 123,121 shares during the period. Renaissance Technologies LLC lifted its position in Molina Healthcare by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock worth $282,343,000 after acquiring an additional 111,154 shares during the period. Finally, Boston Partners grew its stake in Molina Healthcare by 14.8% during the 1st quarter. Boston Partners now owns 798,950 shares of the company’s stock valued at $328,101,000 after purchasing an additional 103,245 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Molina Healthcare Stock Down 5.0 %

Shares of MOH opened at $322.95 on Wednesday. The firm has a market cap of $18.92 billion, a P/E ratio of 17.52, a PEG ratio of 1.15 and a beta of 0.58. Molina Healthcare, Inc. has a 12 month low of $282.96 and a 12 month high of $423.92. The stock’s 50 day moving average is $341.91 and its two-hundred day moving average is $334.59. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. The firm had revenue of $9.88 billion for 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 revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter last year, the company earned $5.65 EPS. Analysts predict that Molina Healthcare, Inc. will post 23.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the sale, the chief accounting officer now directly owns 9,473 shares in the company, valued at approximately $3,282,583.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the sale, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 $3,282,583.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

MOH has been the subject of a number of research reports. JPMorgan Chase & Co. decreased 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. StockNews.com cut shares of Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Wednesday, September 18th. TD Cowen cut their price objective on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group decreased their target price on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, Stephens reaffirmed an “equal weight” rating and set a $320.00 price target on shares of Molina Healthcare in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $378.00.

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.