Canada Pension Plan Investment Board cut its stake in shares of Molina Healthcare Inc (NYSE:MOH) by 18.1% during the second quarter, Holdings Channel reports. The firm owned 218,828 shares of the company’s stock after selling 48,400 shares during the period. Canada Pension Plan Investment Board’s holdings in Molina Healthcare were worth $15,139,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. First Trust Advisors LP boosted its position in Molina Healthcare by 39.5% in the first quarter. First Trust Advisors LP now owns 46,553 shares of the company’s stock valued at $2,123,000 after buying an additional 13,176 shares during the period. State Treasurer State of Michigan boosted its stake in shares of Molina Healthcare by 0.6% in the first quarter. State Treasurer State of Michigan now owns 17,300 shares of the company’s stock worth $789,000 after buying an additional 100 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Molina Healthcare by 35.1% in the first quarter. Wedge Capital Management L L P NC now owns 18,641 shares of the company’s stock worth $850,000 after buying an additional 4,839 shares during the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Molina Healthcare by 7.2% in the first quarter. Great West Life Assurance Co. Can now owns 25,307 shares of the company’s stock worth $1,153,000 after buying an additional 1,699 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of Molina Healthcare by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,920 shares of the company’s stock worth $680,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 93.17% of the company’s stock.

Shares of Molina Healthcare Inc (MOH) opened at 57.03 on Wednesday. The stock’s market cap is $3.26 billion. The company has a 50 day moving average of $66.87 and a 200 day moving average of $58.97. Molina Healthcare Inc has a 12 month low of $42.56 and a 12 month high of $72.79.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.87. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.88 billion. Molina Healthcare had a negative net margin of 1.07% and a positive return on equity of 16.10%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. Equities research analysts expect that Molina Healthcare Inc will post ($2.96) earnings per share for the current fiscal year.

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A number of analysts recently weighed in on the stock. Jefferies Group LLC restated a “hold” rating and set a $72.00 target price on shares of Molina Healthcare in a report on Friday, July 14th. Stifel Nicolaus cut shares of Molina Healthcare from a “hold” rating to a “sell” rating and raised their target price for the stock from $47.00 to $60.00 in a report on Wednesday, May 31st. Wolfe Research restated a “market perform” rating and set a $69.00 target price on shares of Molina Healthcare in a report on Monday, May 15th. Zacks Investment Research cut shares of Molina Healthcare from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, BidaskClub cut shares of Molina Healthcare from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $62.18.

In related news, COO Terry Bayer sold 15,088 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $1,056,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William Dentino sold 66,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $60.09, for a total transaction of $3,965,940.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 214,813 shares of company stock valued at $14,171,753. Corporate insiders own 6.20% of the company’s stock.

About Molina Healthcare

Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.

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Institutional Ownership by Quarter for Molina Healthcare (NYSE:MOH)

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