Molina Healthcare, Inc $MOH Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in shares of Molina Healthcare, Inc (NYSE:MOH) by 43.6% during the 2nd quarter, Holdings Channel reports. The firm owned 29,684 shares of the company’s stock after purchasing an additional 9,016 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Molina Healthcare were worth $9,092,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MOH. Price T Rowe Associates Inc. MD boosted its stake in Molina Healthcare by 46.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,838,043 shares of the company’s stock valued at $1,264,214,000 after buying an additional 1,216,903 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Molina Healthcare by 8.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,487,896 shares of the company’s stock valued at $490,099,000 after purchasing an additional 117,796 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Molina Healthcare by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 884,958 shares of the company’s stock worth $288,125,000 after purchasing an additional 264,664 shares during the last quarter. Durable Capital Partners LP grew its stake in shares of Molina Healthcare by 13.1% in the 1st quarter. Durable Capital Partners LP now owns 541,605 shares of the company’s stock worth $178,399,000 after purchasing an additional 62,899 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Molina Healthcare by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,672 shares of the company’s stock worth $153,388,000 after purchasing an additional 7,021 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Molina Healthcare Stock Performance

Shares of Molina Healthcare stock opened at $192.47 on Friday. Molina Healthcare, Inc has a 12 month low of $151.95 and a 12 month high of $359.97. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The stock has a market cap of $10.43 billion, a PE ratio of 9.49 and a beta of 0.55. The business has a fifty day simple moving average of $181.93 and a 200-day simple moving average of $244.17.

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

Insider Transactions at Molina Healthcare

In related news, COO James Woys purchased 10,000 shares of Molina Healthcare stock in a transaction dated Monday, August 4th. The stock was acquired at an average cost of $155.94 per share, with a total value 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 $11,591,176.14. This trade represents a 15.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronna Romney sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $153.74, for a total transaction of $107,618.00. Following the transaction, the director directly owned 17,131 shares in the company, valued at $2,633,719.94. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on MOH. UBS Group reduced their target price on shares of Molina Healthcare from $260.00 to $180.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Mizuho decreased their target price on Molina Healthcare from $400.00 to $330.00 and set an “outperform” rating on the stock in a report on Friday, July 11th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $210.00 target price on shares of Molina Healthcare in a research report on Tuesday, August 26th. Robert W. Baird decreased their price target on Molina Healthcare from $373.00 to $179.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Finally, The Goldman Sachs Group started coverage on Molina Healthcare in a research note on Tuesday. They issued a “neutral” rating and a $207.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Molina Healthcare has an average rating of “Hold” and a consensus target price of $222.15.

About Molina Healthcare

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.