NorthCrest Asset Manangement LLC Increases Holdings in Molina Healthcare, Inc $MOH

NorthCrest Asset Manangement LLC raised its holdings in shares of Molina Healthcare, Inc (NYSE:MOH) by 454.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,326 shares of the company’s stock after purchasing an additional 4,366 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Molina Healthcare were worth $1,083,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. increased its stake in shares of Molina Healthcare by 2,140.0% during the second quarter. First Horizon Advisors Inc. now owns 112 shares of the company’s stock valued at $33,000 after buying an additional 107 shares during the period. Bogart Wealth LLC purchased a new position in Molina Healthcare during the 3rd quarter valued at $39,000. CYBER HORNET ETFs LLC purchased a new position in Molina Healthcare during the 2nd quarter valued at $45,000. SJS Investment Consulting Inc. raised its holdings in Molina Healthcare by 6,225.0% in the 3rd quarter. SJS Investment Consulting Inc. now owns 253 shares of the company’s stock worth $48,000 after purchasing an additional 249 shares in the last quarter. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Molina Healthcare in the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling at Molina Healthcare

In related news, Director Richard M. Schapiro sold 357 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $143.02, for a total value of $51,058.14. Following the completion of the transaction, the director directly owned 11,352 shares in the company, valued at $1,623,563.04. The trade was a 3.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MOH shares. Cantor Fitzgerald reduced their price target on shares of Molina Healthcare from $210.00 to $180.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Truist Financial set a $175.00 target price on Molina Healthcare in a report on Friday, October 24th. TD Cowen lowered Molina Healthcare from a “buy” rating to a “hold” rating and set a $203.00 target price for the company. in a research report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft set a $165.00 target price on Molina Healthcare in a research note on Friday, October 24th. Finally, The Goldman Sachs Group reduced their price target on Molina Healthcare from $207.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Three research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $193.47.

Molina Healthcare Stock Down 0.1%

Shares of NYSE:MOH opened at $191.29 on Wednesday. Molina Healthcare, Inc has a 12-month low of $133.40 and a 12-month high of $359.97. The stock has a market capitalization of $10.37 billion, a price-to-earnings ratio of 11.84 and a beta of 0.49. The stock has a fifty day simple moving average of $162.54 and a two-hundred day simple moving average of $173.18. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.92.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.84 earnings per share for the quarter, missing analysts’ consensus estimates of $3.97 by ($2.13). The firm had revenue of $11.48 billion for the quarter, compared to the consensus estimate of $10.99 billion. Molina Healthcare had a net margin of 1.98% and a return on equity of 22.95%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.01 earnings per share. On average, research analysts anticipate that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Molina Healthcare Profile

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.