June 23, 2024

Serene Nest

taking care of your health, Our Mission

Ritholtz Wealth Management Raises Stock Holdings in Molina Healthcare, Inc. (NYSE:MOH)

5 min read


Ritholtz Wealth Management grew its position in shares of Molina Healthcare, Inc. (NYSE:MOH – Free Report) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,620 shares of the company’s stock after buying an additional 33 shares during the period. Ritholtz Wealth Management’s holdings in Molina Healthcare were worth $585,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Deutsche Bank AG lifted its holdings in Molina Healthcare by 1.5% during the 3rd quarter. Deutsche Bank AG now owns 258,441 shares of the company’s stock worth $84,740,000 after buying an additional 3,754 shares during the last quarter. Invesco Ltd. lifted its holdings in Molina Healthcare by 10.4% during the 3rd quarter. Invesco Ltd. now owns 1,190,161 shares of the company’s stock worth $390,242,000 after buying an additional 112,243 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Molina Healthcare by 4,019.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 103,185 shares of the company’s stock worth $37,282,000 after buying an additional 100,680 shares during the last quarter. DNB Asset Management AS lifted its holdings in Molina Healthcare by 20.7% during the 4th quarter. DNB Asset Management AS now owns 42,852 shares of the company’s stock worth $15,483,000 after buying an additional 7,346 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Molina Healthcare by 0.5% during the 3rd quarter. Principal Financial Group Inc. now owns 74,056 shares of the company’s stock worth $24,282,000 after buying an additional 376 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MOH. StockNews.com cut Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 8th. Wells Fargo & Company increased their price target on Molina Healthcare from $420.00 to $440.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 20th. Barclays began coverage on Molina Healthcare in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $437.00 price target on the stock. Cantor Fitzgerald increased their price target on Molina Healthcare from $374.00 to $406.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, UBS Group increased their price target on Molina Healthcare from $350.00 to $380.00 and gave the stock a “neutral” rating in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $395.82.

Read Our Latest Analysis on Molina Healthcare

Insider Activity

In related news, Director Richard M. Schapiro sold 711 shares of Molina Healthcare stock in a transaction on Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now directly owns 12,207 shares in the company, valued at approximately $4,688,220.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Mark Lowell Keim sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $386.56, for a total value of $5,798,400.00. Following the completion of the sale, the chief financial officer now owns 36,531 shares of the company’s stock, valued at approximately $14,121,423.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard M. Schapiro sold 711 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $384.06, for a total value of $273,066.66. Following the completion of the sale, the director now directly owns 12,207 shares of the company’s stock, valued at approximately $4,688,220.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,711 shares of company stock worth $6,472,517. 1.10% of the stock is owned by company insiders.

Molina Healthcare Stock Down 1.9 %

MOH opened at $410.83 on Monday. Molina Healthcare, Inc. has a 12 month low of $263.20 and a 12 month high of $423.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market cap of $24.07 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.15 and a beta of 0.47. The stock’s 50 day moving average price is $390.49 and its 200 day moving average price is $367.03.

Molina Healthcare (NYSE:MOH – Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $4.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.31 by $0.07. Molina Healthcare had a return on equity of 32.34% and a net margin of 3.20%. The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $8.35 billion. During the same period last year, the firm earned $4.10 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, research analysts predict that Molina Healthcare, Inc. will post 23.62 earnings per share for the current year.

Molina Healthcare Profile

(Free Report)

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.

Featured Stories

Want to see what other hedge funds are holding MOH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molina Healthcare, Inc. (NYSE:MOH – Free Report).

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



Receive News & Ratings for Molina Healthcare Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Molina Healthcare and related companies with MarketBeat.com’s FREE daily email newsletter.

link

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © All rights reserved. | Newsphere by AF themes.