Summit Global Investments Cuts Stock Position in Molina Healthcare, Inc. (NYSE:MOH)

Summit Global Investments lessened its stake in Molina Healthcare, Inc. (NYSE:MOH) by 17.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,628 shares of the company’s stock after selling 10,536 shares during the period. Molina Healthcare accounts for approximately 1.2% of Summit Global Investments’ investment portfolio, making the stock its 17th largest holding. Summit Global Investments owned about 0.08% of Molina Healthcare worth $17,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MOH. AE Wealth Management LLC grew its stake in Molina Healthcare by 33.5% in the third quarter. AE Wealth Management LLC now owns 1,159 shares of the company’s stock valued at $380,000 after purchasing an additional 291 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Molina Healthcare by 1.1% during the third quarter. Commonwealth Equity Services LLC now owns 17,879 shares of the company’s stock worth $5,862,000 after acquiring an additional 192 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Molina Healthcare during the third quarter worth about $204,000. Xponance Inc. grew its stake in shares of Molina Healthcare by 19.3% during the third quarter. Xponance Inc. now owns 21,326 shares of the company’s stock worth $6,993,000 after acquiring an additional 3,456 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Molina Healthcare by 59.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,908 shares of the company’s stock worth $626,000 after acquiring an additional 711 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Stock Performance

NYSE:MOH traded up $1.37 during trading hours on Thursday, reaching $340.24. The company had a trading volume of 246,449 shares, compared to its average volume of 400,960. Molina Healthcare, Inc. has a 1-year low of $266.35 and a 1-year high of $423.92. The firm has a market cap of $19.94 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 1.05 and a beta of 0.55. The business’s 50 day moving average price is $386.79 and its 200-day moving average price is $372.10. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.49.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.46 by $0.27. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. The company had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $9.45 billion. During the same period in the previous year, the company posted $5.81 earnings per share. Molina Healthcare’s revenue for the quarter was up 21.9% on a year-over-year basis. Research analysts forecast that Molina Healthcare, Inc. will post 23.59 EPS for the current year.

Insider Transactions at Molina Healthcare

In other news, Director Richard M. Schapiro sold 711 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $384.06, for a total transaction of $273,066.66. Following the completion of the transaction, the director now directly owns 12,207 shares of the company’s stock, valued at approximately $4,688,220.42. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Richard M. Schapiro sold 711 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $384.06, for a total transaction of $273,066.66. Following the completion of the transaction, the director now directly owns 12,207 shares of the company’s stock, valued at approximately $4,688,220.42. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Richard M. Schapiro sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total value of $401,050.00. Following the transaction, the director now directly owns 11,207 shares of the company’s stock, valued at $4,494,567.35. The disclosure for this sale can be found here. Insiders sold a total of 16,711 shares of company stock valued at $6,472,517 in the last three months. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research note on Thursday, April 4th. Truist Financial boosted their price target on Molina Healthcare from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Stephens reaffirmed an “equal weight” rating and set a $390.00 target price on shares of Molina Healthcare in a report on Thursday, April 25th. TD Cowen decreased their target price on Molina Healthcare from $453.00 to $412.00 and set a “buy” rating for the company in a report on Tuesday. Finally, StockNews.com downgraded Molina Healthcare from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Molina Healthcare presently has a consensus rating of “Hold” and a consensus price target of $398.55.

About Molina Healthcare

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.