Cambridge Investment Research Advisors Inc. lowered its position in Molina Healthcare, Inc. (NYSE:MOH) by 45.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,474 shares of the company’s stock after selling 2,097 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Molina Healthcare were worth $354,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in Molina Healthcare by 0.4% in the 2nd quarter. BlackRock Inc. now owns 5,752,811 shares of the company’s stock worth $823,458,000 after buying an additional 22,368 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Molina Healthcare by 3.7% in the 2nd quarter. Renaissance Technologies LLC now owns 3,831,905 shares of the company’s stock worth $548,499,000 after buying an additional 136,700 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Molina Healthcare by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 954,433 shares of the company’s stock worth $133,945,000 after buying an additional 229,987 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Molina Healthcare in the 2nd quarter worth $102,187,000. Finally, Northern Trust Corp lifted its holdings in Molina Healthcare by 2.9% in the 2nd quarter. Northern Trust Corp now owns 513,853 shares of the company’s stock worth $73,553,000 after buying an additional 14,493 shares in the last quarter. Hedge funds and other institutional investors own 96.76% of the company’s stock.
MOH has been the topic of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Molina Healthcare from $184.00 to $172.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. ValuEngine upgraded shares of Molina Healthcare from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Stephens set a $150.00 price objective on shares of Molina Healthcare and gave the stock a “hold” rating in a report on Wednesday, August 7th. Bank of America reiterated an “underperform” rating and issued a $140.00 price objective (up previously from $132.00) on shares of Molina Healthcare in a report on Wednesday, July 31st. Finally, Deutsche Bank initiated coverage on shares of Molina Healthcare in a report on Thursday, September 12th. They issued a “buy” rating and a $145.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $160.70.
Molina Healthcare (NYSE:MOH) last issued its earnings results on Tuesday, July 30th. The company reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.56 by $0.55. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.08 billion. Molina Healthcare had a net margin of 4.48% and a return on equity of 51.49%. The company’s revenue for the quarter was down 14.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.08 EPS. On average, equities analysts predict that Molina Healthcare, Inc. will post 11.5 earnings per share for the current year.
In other news, Director Ronna Romney sold 375 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $131.63, for a total value of $49,361.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.77% of the company’s stock.
Molina Healthcare Profile
Molina Healthcare, Inc provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program in the United States. It operates through three segments: Health Plans, Molina Medicaid Solutions, and Other.
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