Van ECK Associates Corp Acquires 1,201 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Van ECK Associates Corp increased its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 10.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 13,074 shares of the company’s stock after buying an additional 1,201 shares during the quarter. Van ECK Associates Corp’s holdings in Molina Healthcare were worth $4,505,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the transaction, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at $3,282,583.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Molina Healthcare Stock Performance

NYSE MOH opened at $329.65 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.53. Molina Healthcare, Inc. has a twelve month low of $272.69 and a twelve month high of $423.92. The business has a 50-day moving average price of $330.97 and a 200-day moving average price of $327.22. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.12 and a beta of 0.59.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.96 by $0.05. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The business had revenue of $10.34 billion during the quarter, compared to analyst estimates of $9.92 billion. During the same period last year, the firm posted $5.05 EPS. The company’s revenue was up 21.0% on a year-over-year basis. As a group, equities research analysts predict that Molina Healthcare, Inc. will post 23.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MOH has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on Molina Healthcare from $360.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. 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. Barclays boosted their target price on shares of Molina Healthcare from $359.00 to $372.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Jefferies Financial Group dropped their price target 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. Finally, Truist Financial reduced their price objective on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Molina Healthcare has an average rating of “Moderate Buy” and an average price target of $367.17.

Molina Healthcare Company 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.