OFI Invest Asset Management Acquires Shares of 314 Molina Healthcare, Inc $MOH

OFI Invest Asset Management acquired a new stake in Molina Healthcare, Inc (NYSE:MOH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 314 shares of the company’s stock, valued at approximately $94,000.

A number of other institutional investors also recently bought and sold shares of MOH. Zions Bancorporation National Association UT acquired a new position in Molina Healthcare in the first quarter valued at $29,000. Deseret Mutual Benefit Administrators increased its stake in shares of Molina Healthcare by 60.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 90 shares of the company’s stock worth $30,000 after acquiring an additional 34 shares during the period. Elequin Capital LP increased its stake in shares of Molina Healthcare by 170.6% during the first quarter. Elequin Capital LP now owns 92 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares during the period. Silver Oak Securities Incorporated acquired a new position in shares of Molina Healthcare during the first quarter worth about $34,000. Finally, Allworth Financial LP increased its stake in shares of Molina Healthcare by 52.0% during the first quarter. Allworth Financial LP now owns 228 shares of the company’s stock worth $72,000 after acquiring an additional 78 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Molina Healthcare from $198.00 to $231.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Wall Street Zen lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Sunday, June 29th. Mizuho dropped their price target on shares of Molina Healthcare from $400.00 to $330.00 and set an “outperform” rating on the stock in a research note on Friday, July 11th. Robert W. Baird dropped their price target on shares of Molina Healthcare from $373.00 to $179.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. Finally, Morgan Stanley lowered shares of Molina Healthcare from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $364.00 to $266.00 in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $228.18.

Insider Activity at Molina Healthcare

In other news, Director Ronna Romney sold 700 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $153.74, for a total value of $107,618.00. Following the sale, the director directly owned 17,131 shares in the company, valued at $2,633,719.94. This represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Woys purchased 10,000 shares of the stock in a transaction dated Monday, August 4th. The stock was acquired at an average price of $155.94 per share, for a total transaction of $1,559,400.00. Following the completion of the transaction, the chief operating officer directly owned 74,331 shares of the company’s stock, valued at approximately $11,591,176.14. The trade was a 15.54% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.26% of the stock is owned by corporate insiders.

Molina Healthcare Trading Up 0.2%

Shares of MOH opened at $194.44 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average is $179.00 and its two-hundred day moving average is $247.39. Molina Healthcare, Inc has a twelve month low of $151.95 and a twelve month high of $359.97. The firm has a market capitalization of $10.54 billion, a P/E ratio of 9.58 and a beta of 0.55.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.50 by ($0.02). The business had revenue of $11.43 billion during the quarter, compared to analysts’ expectations of $10.94 billion. Molina Healthcare had a net margin of 2.60% and a return on equity of 27.72%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the company earned $5.86 EPS. On average, research analysts predict that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Molina Healthcare Company Profile

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.