New Mexico Educational Retirement Board Makes New Investment in Molina Healthcare, Inc $MOH

New Mexico Educational Retirement Board bought a new stake in Molina Healthcare, Inc (NYSE:MOH) during the 3rd quarter, Holdings Channel reports. The fund bought 10,900 shares of the company’s stock, valued at approximately $2,061,000.

Several other large investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its stake in Molina Healthcare by 56.9% in the second quarter. Integrated Wealth Concepts LLC now owns 15,669 shares of the company’s stock valued at $3,584,000 after buying an additional 5,681 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Molina Healthcare by 394.1% in the second quarter. Assenagon Asset Management S.A. now owns 156,632 shares of the company’s stock valued at $35,822,000 after acquiring an additional 124,929 shares during the last quarter. Summit Street Capital Management LLC acquired a new position in Molina Healthcare during the second quarter worth approximately $41,630,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Molina Healthcare in the second quarter valued at $22,656,000. Finally, Algert Global LLC boosted its holdings in shares of Molina Healthcare by 35.5% during the second quarter. Algert Global LLC now owns 52,240 shares of the company’s stock worth $11,947,000 after acquiring an additional 13,690 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MOH. Wells Fargo & Company cut their price objective on shares of Molina Healthcare from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, July 28th. Mizuho set a $255.00 price objective on shares of Molina Healthcare in a research note on Friday, October 23rd. Deutsche Bank reissued a “hold” rating and issued a $163.00 target price on shares of Molina Healthcare in a report on Monday, October 26th. Jefferies Financial Group restated a “hold” rating and issued a $220.00 target price on shares of Molina Healthcare in a research report on Friday, October 23rd. Finally, Truist Financial cut their price target on shares of Molina Healthcare from $250.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $213.88.

Molina Healthcare Trading Up 1.3%

Shares of MOH stock opened at $209.01 on Thursday. Molina Healthcare, Inc has a fifty-two week low of $121.06 and a fifty-two week high of $244.89. The stock’s fifty day moving average price is $202.28 and its two-hundred day moving average price is $185.52. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.69 and a current ratio of 1.69. The company has a market cap of $10.91 billion, a PE ratio of -217.72, a P/E/G ratio of 12.17 and a beta of 0.75.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, October 21st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Molina Healthcare had a positive return on equity of 2.50% and a negative net margin of 0.11%. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $10.86 billion. During the same period last year, the firm posted $1.84 earnings per share. Molina Healthcare’s revenue was down 3.4% compared to the same quarter last year. Equities analysts predict that Molina Healthcare, Inc will post 5.30 EPS for the current fiscal year.

Molina Healthcare Profile

Molina Healthcare, Inc. is a managed care company that provides health insurance plans primarily to people covered by government-sponsored programs. Its offerings include Medicaid plans, Medicare plans for eligible individuals and dual-eligible members, and health plans sold through government marketplaces under the Affordable Care Act. The company was founded in 1980 by physician C. David Molina in Long Beach, California, initially serving low-income families through community clinics. It later shifted its focus to providing managed health care, with Medicaid becoming a central part of its business.