Exchange Traded Concepts LLC Buys 1,438 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Exchange Traded Concepts LLC boosted its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 85.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,129 shares of the company’s stock after purchasing an additional 1,438 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Molina Healthcare were worth $1,078,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Capital International Investors raised its position in shares of Molina Healthcare by 0.9% during the first quarter. Capital International Investors now owns 1,665,801 shares of the company’s stock valued at $684,361,000 after buying an additional 15,264 shares during the last quarter. Renaissance Technologies LLC increased its stake in Molina Healthcare by 13.3% during the second quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock valued at $282,343,000 after acquiring an additional 111,154 shares during the period. Boston Partners raised its holdings in Molina Healthcare by 14.8% in the 1st quarter. Boston Partners now owns 798,950 shares of the company’s stock valued at $328,101,000 after acquiring an additional 103,245 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Molina Healthcare by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 470,932 shares of the company’s stock worth $140,026,000 after acquiring an additional 84,929 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Molina Healthcare by 36.2% in 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. 98.50% of the stock is owned by institutional investors.

Insider Activity

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was 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 of the company’s stock, valued at approximately $6,114,260.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $346.52, for a total value 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction 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 the business’s 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 sale, the director now directly owns 18,025 shares of the company’s stock, valued at $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Molina Healthcare Price Performance

Shares of MOH stock opened at $331.00 on Thursday. Molina Healthcare, Inc. has a 52 week low of $282.96 and a 52 week high of $423.92. The stock has a market capitalization of $19.40 billion, a PE ratio of 17.96, a PEG ratio of 1.15 and a beta of 0.58. 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’s fifty day moving average is $341.59 and its 200-day moving average is $333.97.

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

Analyst Ratings Changes

A number of research analysts recently commented on MOH shares. JPMorgan Chase & Co. cut their target price on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. TD Cowen reduced their price objective on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Cantor Fitzgerald reissued an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research note on Tuesday, October 1st. Truist Financial dropped their price target on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Stephens reaffirmed an “equal weight” rating and set a $320.00 price objective on shares of Molina Healthcare in a report on Thursday, July 25th. One equities 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 MarketBeat, Molina Healthcare presently has an average rating of “Hold” and an average price target of $378.00.

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.