State of New Jersey Common Pension Fund D Trims Position in Molina Healthcare, Inc. (NYSE:MOH)

State of New Jersey Common Pension Fund D cut its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 32.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,244 shares of the company’s stock after selling 10,170 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Molina Healthcare were worth $6,316,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quent Capital LLC grew its stake in Molina Healthcare by 6.8% in the first quarter. Quent Capital LLC now owns 489 shares of the company’s stock worth $201,000 after purchasing an additional 31 shares during the period. Clear Creek Financial Management LLC grew its stake in Molina Healthcare by 2.2% in the first quarter. Clear Creek Financial Management LLC now owns 1,462 shares of the company’s stock worth $601,000 after purchasing an additional 32 shares during the period. Custom Index Systems LLC grew its stake in Molina Healthcare by 5.0% in the second quarter. Custom Index Systems LLC now owns 690 shares of the company’s stock worth $205,000 after purchasing an additional 33 shares during the period. GAMMA Investing LLC boosted its holdings in Molina Healthcare by 11.5% in the first quarter. GAMMA Investing LLC now owns 330 shares of the company’s stock worth $136,000 after acquiring an additional 34 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its holdings in Molina Healthcare by 1.1% in the second quarter. AlphaMark Advisors LLC now owns 3,543 shares of the company’s stock worth $1,053,000 after acquiring an additional 40 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Molina Healthcare

In related news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total transaction of $339,210.00. Following the completion of the sale, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the sale, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Maurice Hebert sold 393 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the sale, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

MOH has been the topic of several analyst reports. Truist Financial dropped their target price on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, July 15th. TD Cowen dropped their target price on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Baird R W raised Molina Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Wells Fargo & Company boosted their target price on Molina Healthcare from $315.00 to $360.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. lowered their price target on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $378.00.

Molina Healthcare Stock Up 1.5 %

Molina Healthcare stock opened at $358.20 on Monday. The stock has a market cap of $20.99 billion, a PE ratio of 19.44, a price-to-earnings-growth ratio of 1.20 and a beta of 0.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. Molina Healthcare, Inc. has a one year low of $282.96 and a one year high of $423.92. The stock has a fifty day moving average of $329.20 and a 200 day moving average of $344.44.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. The company had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. Molina Healthcare’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.65 earnings per share. As a group, sell-side analysts predict that Molina Healthcare, Inc. will post 23.5 EPS for the current year.

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.