Molina Healthcare Inc (MOH) Shares Sold by Rhumbline Advisers
Rhumbline Advisers cut its position in Molina Healthcare Inc (NYSE:MOH) by 1.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 86,991 shares of the company’s stock after selling 1,101 shares during the period. Rhumbline Advisers owned about 0.15% of Molina Healthcare worth $6,018,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of MOH. LS Investment Advisors LLC boosted its position in Molina Healthcare by 40.9% in the second quarter. LS Investment Advisors LLC now owns 1,829 shares of the company’s stock worth $127,000 after buying an additional 531 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Molina Healthcare during the second quarter worth approximately $136,000. Meadow Creek Investment Management LLC boosted its position in Molina Healthcare by 13.2% in the first quarter. Meadow Creek Investment Management LLC now owns 2,408 shares of the company’s stock worth $110,000 after buying an additional 280 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position in Molina Healthcare by 13.2% in the first quarter. Glen Harbor Capital Management LLC now owns 2,924 shares of the company’s stock worth $133,000 after buying an additional 340 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Molina Healthcare during the second quarter worth approximately $241,000. 96.04% of the stock is currently owned by institutional investors.
Shares of Molina Healthcare Inc (NYSE MOH) opened at 63.50 on Wednesday. The stock’s market capitalization is $3.63 billion. The stock’s 50 day moving average price is $64.84 and its 200 day moving average price is $59.10. Molina Healthcare Inc has a one year low of $42.56 and a one year high of $72.79.
Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, August 2nd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.86 by $0.87. The company 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%. Molina Healthcare’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.67 EPS. Equities research analysts predict that Molina Healthcare Inc will post ($2.96) EPS for the current fiscal year.
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A number of research analysts recently commented on the company. Deutsche Bank AG reissued a “hold” rating and issued a $72.00 price target on shares of Molina Healthcare in a report on Wednesday, August 9th. TheStreet cut Molina Healthcare from a “b” rating to a “c” rating in a report on Monday, August 7th. BidaskClub cut Molina Healthcare from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Morgan Stanley raised Molina Healthcare from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $65.00 to $68.00 in a report on Thursday, August 17th. Finally, Credit Suisse Group reissued an “underperform” rating and issued a $53.00 price target (up from $50.00) on shares of Molina Healthcare in a report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $62.39.
In other Molina Healthcare news, Director John C. Molina sold 21,277 shares of the stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $70.53, for a total transaction of $1,500,666.81. Following the sale, the director now owns 611,154 shares in the company, valued at approximately $43,104,691.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J Mario Md Molina sold 15,000 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $66.09, for a total value of $991,350.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 246,236 shares of company stock worth $16,040,984. 6.20% of the stock is owned by insiders.
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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