Optimal Asset Management Inc. Takes $773,000 Position in Molina Healthcare, Inc. (NYSE:MOH)

Optimal Asset Management Inc. acquired a new stake in shares of Molina Healthcare, Inc. (NYSE:MOH) in the first quarter, HoldingsChannel reports. The fund acquired 3,308 shares of the company’s stock, valued at approximately $773,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Penserra Capital Management LLC grew its stake in Molina Healthcare by 85.3% during the 4th quarter. Penserra Capital Management LLC now owns 126 shares of the company’s stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. Fifth Third Bancorp grew its stake in Molina Healthcare by 58.1% during the 1st quarter. Fifth Third Bancorp now owns 136 shares of the company’s stock valued at $32,000 after purchasing an additional 50 shares in the last quarter. IndexIQ Advisors LLC acquired a new stake in Molina Healthcare during the 1st quarter valued at approximately $33,000. Alpha DNA Investment Management LLC acquired a new stake in Molina Healthcare during the 4th quarter valued at approximately $54,000. Finally, CWM LLC grew its stake in Molina Healthcare by 236.9% during the 1st quarter. CWM LLC now owns 283 shares of the company’s stock valued at $66,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 93.92% of the company’s stock.

In related news, Director Ronna Romney sold 300 shares of Molina Healthcare stock in a transaction on Friday, May 7th. The stock was sold at an average price of $262.97, for a total transaction of $78,891.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas L. Tran sold 3,196 shares of Molina Healthcare stock in a transaction on Thursday, May 20th. The shares were sold at an average price of $258.03, for a total value of $824,663.88. Following the sale, the executive vice president now directly owns 31,020 shares of the company’s stock, valued at approximately $8,004,090.60. The disclosure for this sale can be found here. Insiders have sold 7,746 shares of company stock worth $2,024,987 in the last quarter. 1.49% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on MOH shares. Wells Fargo & Company started coverage on Molina Healthcare in a research report on Monday, May 24th. They issued an “underweight” rating and a $253.00 target price for the company. Truist lifted their target price on Molina Healthcare from $260.00 to $290.00 in a research report on Wednesday, April 14th. Zacks Investment Research upgraded Molina Healthcare from a “hold” rating to a “buy” rating and set a $267.00 target price for the company in a research report on Tuesday, May 25th. Morgan Stanley raised their price target on Molina Healthcare from $244.00 to $297.00 and gave the stock an “overweight” rating in a report on Thursday, June 3rd. Finally, Seaport Global Securities assumed coverage on Molina Healthcare in a report on Friday, July 9th. They issued a “neutral” rating and a $257.25 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. Molina Healthcare currently has an average rating of “Buy” and a consensus price target of $259.94.

Shares of MOH stock opened at $256.50 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.09. The firm has a market cap of $14.98 billion, a PE ratio of 21.02, a PEG ratio of 1.07 and a beta of 0.74. The firm’s fifty day moving average price is $253.04. Molina Healthcare, Inc. has a 1 year low of $151.40 and a 1 year high of $273.01.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, April 28th. The company reported $4.44 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.66. Molina Healthcare had a return on equity of 33.87% and a net margin of 3.38%. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.08 billion. During the same quarter in the previous year, the company posted $2.92 earnings per share. Molina Healthcare’s revenue for the quarter was up 43.4% compared to the same quarter last year. As a group, sell-side analysts predict that Molina Healthcare, Inc. will post 13.38 EPS for the current year.

Molina Healthcare Company Profile

Molina Healthcare, Inc provides managed health care services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. The company operates in two segments, Health Plans and Other. As of December 31, 2020, it served approximately 4.0 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs in 15 states.

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Institutional Ownership by Quarter for Molina Healthcare (NYSE:MOH)

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