Neuberger Berman Group LLC Raises Holdings in Molina Healthcare, Inc. (MOH)
Neuberger Berman Group LLC grew its position in Molina Healthcare, Inc. (NYSE:MOH) by 23.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 533,021 shares of the company’s stock after purchasing an additional 99,543 shares during the period. Neuberger Berman Group LLC owned about 0.93% of Molina Healthcare worth $36,651,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation acquired a new position in shares of Molina Healthcare during the 3rd quarter valued at about $118,000. Tiedemann Wealth Management LLC increased its holdings in shares of Molina Healthcare by 7.8% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 1,440,066 shares of the company’s stock valued at $135,000 after acquiring an additional 103,775 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in shares of Molina Healthcare by 64.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,463 shares of the company’s stock valued at $170,000 after acquiring an additional 963 shares during the last quarter. Sabal Trust CO acquired a new position in shares of Molina Healthcare during the 3rd quarter valued at about $206,000. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in shares of Molina Healthcare by 478.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,316 shares of the company’s stock valued at $229,000 after acquiring an additional 2,743 shares during the last quarter. 96.23% of the stock is currently owned by institutional investors.
Shares of Molina Healthcare, Inc. (NYSE MOH) opened at $78.40 on Thursday. Molina Healthcare, Inc. has a twelve month low of $42.56 and a twelve month high of $80.74. The firm has a market capitalization of $4,368.26, a price-to-earnings ratio of 23.76 and a beta of 0.97. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06.
A number of analysts have issued reports on the company. Jefferies Group raised their target price on Molina Healthcare from $60.00 to $64.00 and gave the company a “hold” rating in a report on Friday, October 13th. Wolfe Research raised Molina Healthcare from a “market perform” rating to an “outperform” rating in a report on Monday, October 23rd. Morgan Stanley raised their target price on Molina Healthcare from $68.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, November 3rd. Zacks Investment Research raised Molina Healthcare from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Molina Healthcare in a research report on Friday, December 8th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $64.25.
In related news, Director John C. Molina sold 19,885 shares of Molina Healthcare stock in a transaction on Monday, December 18th. The stock was sold at an average price of $75.47, for a total transaction of $1,500,720.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Garrey Carruthers sold 1,300 shares of Molina Healthcare stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $75.66, for a total value of $98,358.00. Following the sale, the director now directly owns 7,016 shares of the company’s stock, valued at $530,830.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 727,953 shares of company stock valued at $52,635,892. 6.20% of the stock is owned by insiders.
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Molina Healthcare 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, which includes its Pathways Health and Community Support LLC (Pathways) business.
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