Wedge Capital Management L L P NC raised its stake in Molina Healthcare, Inc. (NYSE:MOH) by 49.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 322,086 shares of the company’s stock after purchasing an additional 106,673 shares during the period. Wedge Capital Management L L P NC’s holdings in Molina Healthcare were worth $35,339,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Molina Healthcare by 0.4% during the second quarter. BlackRock Inc. now owns 5,752,811 shares of the company’s stock worth $823,458,000 after purchasing an additional 22,368 shares during the period. Renaissance Technologies LLC increased its position in Molina Healthcare by 3.7% during the 2nd quarter. Renaissance Technologies LLC now owns 3,831,905 shares of the company’s stock valued at $548,499,000 after purchasing an additional 136,700 shares during the period. AQR Capital Management LLC increased its position in Molina Healthcare by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 954,433 shares of the company’s stock valued at $133,945,000 after purchasing an additional 229,987 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Molina Healthcare during the 2nd quarter worth approximately $102,187,000. Finally, Boston Partners acquired a new stake in shares of Molina Healthcare during the 2nd quarter worth approximately $82,898,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.
In other news, Director Ronna Romney sold 375 shares of Molina Healthcare stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $131.63, for a total value of $49,361.25. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.77% of the company’s stock.
Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.70 by $0.10. Molina Healthcare had a return on equity of 49.14% and a net margin of 4.47%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $2.97 EPS. The company’s revenue for the quarter was down 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that Molina Healthcare, Inc. will post 11.52 EPS for the current fiscal year.
A number of equities analysts recently issued reports on MOH shares. Stephens set a $150.00 target price on Molina Healthcare and gave the stock a “hold” rating in a report on Wednesday, August 7th. Bank of America reiterated an “underperform” rating and set a $140.00 target price (up from $132.00) on shares of Molina Healthcare in a research note on Wednesday, July 31st. Deutsche Bank began coverage on Molina Healthcare in a report on Thursday, September 12th. They issued a “buy” rating and a $145.00 price objective for the company. ValuEngine lowered Molina Healthcare from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group lowered Molina Healthcare from a “buy” rating to a “hold” rating and cut their price objective for the stock from $133.00 to $120.00 in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $154.33.
Molina Healthcare Company 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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