Connor Clark & Lunn Investment Management Ltd. Acquires 7,042 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH – Get Rating) by 34.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 27,448 shares of the company’s stock after purchasing an additional 7,042 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Molina Healthcare were worth $9,064,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Molina Healthcare by 18.4% in the first quarter. Vanguard Group Inc. now owns 6,449,375 shares of the company’s stock valued at $2,151,448,000 after purchasing an additional 1,001,372 shares during the period. Durable Capital Partners LP bought a new position in shares of Molina Healthcare in the first quarter valued at approximately $214,363,000. Invesco Ltd. raised its position in shares of Molina Healthcare by 151.6% in the first quarter. Invesco Ltd. now owns 893,693 shares of the company’s stock valued at $298,128,000 after purchasing an additional 538,493 shares during the period. State Street Corp grew its stake in shares of Molina Healthcare by 25.6% in the first quarter. State Street Corp now owns 2,457,008 shares of the company’s stock worth $819,633,000 after acquiring an additional 501,107 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Molina Healthcare by 338.8% in the fourth quarter. First Trust Advisors LP now owns 547,378 shares of the company’s stock worth $180,757,000 after acquiring an additional 422,626 shares during the last quarter. Institutional investors own 94.25% of the company’s stock.

Insider Activity

In other news, Director Daniel Cooperman sold 5,000 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $276.77, for a total value of $1,383,850.00. Following the sale, the director now owns 4,944 shares in the company, valued at approximately $1,368,350.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Molina Healthcare Stock Down 3.0 %

MOH opened at $273.41 on Friday. Molina Healthcare, Inc. has a fifty-two week low of $249.78 and a fifty-two week high of $374.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.47. The firm’s fifty day moving average price is $283.82 and its two-hundred day moving average price is $300.15. The company has a market capitalization of $15.94 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.05 and a beta of 0.68.

Molina Healthcare (NYSE:MOH – Get Rating) last issued its earnings results on Wednesday, April 26th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.13 by $0.68. Molina Healthcare had a net margin of 2.64% and a return on equity of 36.20%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the previous year, the company earned $4.90 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts anticipate that Molina Healthcare, Inc. will post 20.25 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MOH. Truist Financial lowered their price objective on shares of Molina Healthcare from $400.00 to $380.00 and set a “buy” rating on the stock in a research note on Friday, February 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Molina Healthcare from $365.00 to $335.00 in a research note on Monday, May 8th. Cantor Fitzgerald began coverage on shares of Molina Healthcare in a research note on Thursday, April 20th. They issued an “overweight” rating and a $354.00 price objective on the stock. Wells Fargo & Company lowered their price objective on shares of Molina Healthcare from $307.00 to $282.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 21st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Molina Healthcare from $360.00 to $348.00 and set an “overweight” rating on the stock in a research note on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Molina Healthcare presently has an average rating of “Hold” and an average target price of $354.75.

Molina Healthcare Company Profile

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Molina Healthcare, Inc engages in the provision of health care services. It operates through the following segments: Medicaid, Medicare, Marketplace, and Other. The company was founded by C. David Molina in 1980 and is headquartered in Long Beach, CA.