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

New Mexico Educational Retirement Board acquired a new stake in shares of Molina Healthcare, Inc (NYSE:MOH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,900 shares of the company’s stock, valued at approximately $2,061,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MOH. Fortitude Family Office LLC lifted its position in Molina Healthcare by 63.7% during the third quarter. Fortitude Family Office LLC now owns 131 shares of the company’s stock valued at $25,000 after buying an additional 51 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of Molina Healthcare by 118.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 144 shares of the company’s stock valued at $33,000 after buying an additional 78 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Molina Healthcare in the 2nd quarter worth about $39,000. Versant Capital Management Inc raised its stake in shares of Molina Healthcare by 341.6% in the 2nd quarter. Versant Capital Management Inc now owns 340 shares of the company’s stock valued at $78,000 after purchasing an additional 263 shares in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Molina Healthcare in the 2nd quarter valued at about $89,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MOH has been the subject of a number of research reports. Weiss Ratings upgraded Molina Healthcare from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, October 21st. Zacks Research downgraded shares of Molina Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Wells Fargo & Company decreased their price target on Molina Healthcare from $235.00 to $220.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 28th. JPMorgan Chase & Co. upped their target price on Molina Healthcare from $220.00 to $225.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 27th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Molina Healthcare in a research report on Tuesday, October 27th. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $213.88.

Molina Healthcare Stock Up 1.3%

MOH stock opened at $209.01 on Thursday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.95. The firm has a market cap of $10.91 billion, a PE ratio of -217.72, a PEG ratio of 12.17 and a beta of 0.75. The company has a fifty day simple moving average of $202.28 and a 200 day simple moving average of $185.52. Molina Healthcare, Inc has a 1 year low of $121.06 and a 1 year high of $244.89.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $0.89 EPS 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 company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $10.86 billion. During the same quarter last year, the company posted $1.84 earnings per share. The company’s revenue for the quarter was down 3.4% compared to the same quarter last year. Sell-side analysts anticipate 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.