279,972 Shares in Molina Healthcare Inc. (MOH) Acquired by Bank of Montreal Can
Bank of Montreal Can purchased a new position in shares of Molina Healthcare Inc. (NYSE:MOH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 279,972 shares of the company’s stock, valued at approximately $13,970,000. Bank of Montreal Can owned 0.49% of Molina Healthcare as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Teachers Advisors Inc. increased its stake in Molina Healthcare by 209.7% in the first quarter. Teachers Advisors Inc. now owns 245,142 shares of the company’s stock worth $15,809,000 after buying an additional 166,000 shares during the last quarter. Renaissance Technologies LLC increased its stake in Molina Healthcare by 15.2% in the first quarter. Renaissance Technologies LLC now owns 1,208,150 shares of the company’s stock worth $77,914,000 after buying an additional 159,572 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Molina Healthcare by 50.4% in the second quarter. BNP Paribas Arbitrage SA now owns 332,385 shares of the company’s stock worth $16,586,000 after buying an additional 111,396 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in Molina Healthcare during the first quarter worth about $2,311,000. Finally, LPL Financial LLC acquired a new stake in Molina Healthcare during the first quarter worth about $2,001,000. 87.58% of the stock is currently owned by institutional investors.
Shares of Molina Healthcare Inc. (NYSE:MOH) traded up 1.78% on Friday, reaching $58.32. 415,007 shares of the company’s stock traded hands. The firm’s 50 day moving average is $56.30 and its 200 day moving average is $55.11. The firm has a market capitalization of $3.31 billion, a P/E ratio of 25.25 and a beta of 1.67. Molina Healthcare Inc. has a 52 week low of $44.50 and a 52 week high of $70.82.
Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, July 27th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.18. Molina Healthcare had a net margin of 0.83% and a return on equity of 9.60%. The company had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 23.7% on a year-over-year basis. Analysts expect that Molina Healthcare Inc. will post $2.74 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on MOH shares. Jefferies Group reaffirmed a “buy” rating and set a $63.00 price target (down previously from $66.00) on shares of Molina Healthcare in a research note on Thursday, July 28th. Zacks Investment Research downgraded shares of Molina Healthcare from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Leerink Swann reissued an “outperform” rating and issued a $75.00 target price on shares of Molina Healthcare in a research note on Wednesday, June 15th. Goldman Sachs Group Inc. raised shares of Molina Healthcare from a “sell” rating to a “neutral” rating and increased their target price for the company from $51.00 to $58.00 in a research note on Monday, September 19th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Molina Healthcare in a research note on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $62.80.
In other news, COO Terry Bayer sold 8,250 shares of Molina Healthcare stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $58.00, for a total transaction of $478,500.00. Following the transaction, the chief operating officer now owns 176,834 shares in the company, valued at approximately $10,256,372. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronna Romney sold 750 shares of Molina Healthcare stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $55.00, for a total value of $41,250.00. The disclosure for this sale can be found here. Company insiders own 6.89% 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. Its Health Plans segment consists of health plans in approximately 10 states and the Commonwealth of Puerto Rico, and its direct delivery business.
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