Texas Permanent School Fund increased its position in Molina Healthcare Inc (NYSE:MOH) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 31,214 shares of the company’s stock after buying an additional 398 shares during the period. Texas Permanent School Fund’s holdings in Molina Healthcare were worth $2,159,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in MOH. Point72 Asset Management L.P. raised its stake in shares of Molina Healthcare by 1,821.5% in the first quarter. Point72 Asset Management L.P. now owns 599,500 shares of the company’s stock worth $27,337,000 after buying an additional 568,300 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Molina Healthcare by 6,812.6% in the second quarter. Acadian Asset Management LLC now owns 415,587 shares of the company’s stock worth $28,748,000 after buying an additional 409,575 shares in the last quarter. Redmile Group LLC raised its stake in shares of Molina Healthcare by 42.7% in the first quarter. Redmile Group LLC now owns 1,149,727 shares of the company’s stock worth $52,428,000 after buying an additional 344,181 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Molina Healthcare by 12.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,488,977 shares of the company’s stock worth $113,498,000 after buying an additional 282,144 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Molina Healthcare by 20.0% in the first quarter. Victory Capital Management Inc. now owns 1,583,018 shares of the company’s stock worth $72,186,000 after buying an additional 263,892 shares in the last quarter. Hedge funds and other institutional investors own 93.42% of the company’s stock.
Molina Healthcare Inc (NYSE MOH) opened at 57.53 on Friday. Molina Healthcare Inc has a one year low of $42.56 and a one year high of $72.79. The stock’s market cap is $3.29 billion. The firm’s 50-day moving average is $68.05 and its 200 day moving average is $58.93.
Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.86 by $0.87. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.88 billion. Molina Healthcare had a positive return on equity of 16.10% and a negative net margin of 1.07%. Molina Healthcare’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. On average, analysts anticipate that Molina Healthcare Inc will post ($2.96) EPS for the current fiscal year.
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A number of analysts have recently commented on MOH shares. TheStreet upgraded shares of Molina Healthcare from a “c” rating to a “b” rating in a research note on Tuesday, May 2nd. Zacks Investment Research lowered shares of Molina Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. ValuEngine lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Wolfe Research began coverage on shares of Molina Healthcare in a research note on Friday, May 5th. They issued a “market perform” rating and a $69.00 price target for the company. Finally, Stifel Nicolaus boosted their target price on shares of Molina Healthcare from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Wednesday, May 3rd. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $62.18.
In other news, insider William Dentino sold 66,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $60.09, for a total transaction of $3,965,940.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Terry Bayer sold 415 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $69.24, for a total transaction of $28,734.60. Following the sale, the chief operating officer now directly owns 80,672 shares in the company, valued at approximately $5,585,729.28. The disclosure for this sale can be found here. Insiders have sold a total of 215,563 shares of company stock worth $14,224,433 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.
Molina Healthcare Company Profile
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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