Raymond James & Associates Purchases 15,840 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Raymond James & Associates increased its position in Molina Healthcare, Inc. (NYSE:MOH) by 59.9% during the third quarter, Holdings Channel reports. The firm owned 42,298 shares of the company’s stock after buying an additional 15,840 shares during the quarter. Raymond James & Associates’ holdings in Molina Healthcare were worth $14,574,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Blue Trust Inc. increased its position in Molina Healthcare by 84.9% during the third quarter. Blue Trust Inc. now owns 479 shares of the company’s stock worth $165,000 after buying an additional 220 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Molina Healthcare by 1.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,942 shares of the company’s stock worth $2,047,000 after acquiring an additional 61 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Molina Healthcare by 1.8% during the 3rd quarter. AlphaMark Advisors LLC now owns 3,608 shares of the company’s stock worth $1,243,000 after acquiring an additional 65 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Molina Healthcare by 26.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 888 shares of the company’s stock valued at $306,000 after acquiring an additional 183 shares during the period. Finally, NBC Securities Inc. lifted its holdings in Molina Healthcare by 5.2% during the 3rd quarter. NBC Securities Inc. now owns 2,098 shares of the company’s stock valued at $722,000 after purchasing an additional 103 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MOH has been the topic of several research analyst reports. Truist Financial dropped their price objective on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Jefferies Financial Group lowered 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. TD Cowen lowered their target price on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Stephens reissued an “equal weight” rating and set a $320.00 price target on shares of Molina Healthcare in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $367.00.

Molina Healthcare Stock Performance

Shares of Molina Healthcare stock opened at $325.54 on Monday. The stock has a market cap of $19.08 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 0.99 and a beta of 0.58. Molina Healthcare, Inc. has a twelve month low of $272.69 and a twelve month high of $423.92. The company’s fifty day moving average is $335.23 and its 200 day moving average is $329.39. The company has a quick ratio of 1.57, a current 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, October 23rd. The company reported $6.01 EPS for the quarter, beating analysts’ consensus estimates of $5.96 by $0.05. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The firm had revenue of $10.34 billion for the quarter, compared to analyst estimates of $9.92 billion. During the same quarter in the previous year, the company posted $5.05 EPS. The business’s revenue was up 21.0% on a year-over-year basis. Sell-side analysts forecast that Molina Healthcare, Inc. will post 23.5 EPS for the current year.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction that occurred 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 approximately $6,114,260.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, 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 value of $136,182.36. Following the transaction, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at $3,282,583.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven J. Orlando sold 1,000 shares of the company’s 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 sale, the director now owns 18,025 shares in the company, valued at approximately $6,114,260.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.