The Manufacturers Life Insurance Company Sells 272,301 Shares of Molina Healthcare, Inc. (NYSE:MOH)

The Manufacturers Life Insurance Company reduced its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 79.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,534 shares of the company’s stock after selling 272,301 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of Molina Healthcare worth $21,564,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MOH. Innealta Capital LLC bought a new position in Molina Healthcare during the second quarter valued at approximately $36,000. Ashton Thomas Private Wealth LLC bought a new position in Molina Healthcare during the second quarter valued at approximately $40,000. AM Squared Ltd bought a new position in Molina Healthcare during the second quarter valued at approximately $59,000. Mather Group LLC. bought a new position in Molina Healthcare during the first quarter valued at approximately $123,000. Finally, GAMMA Investing LLC grew its position in Molina Healthcare by 11.5% during the first quarter. GAMMA Investing LLC now owns 330 shares of the company’s stock valued at $136,000 after acquiring an additional 34 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. dropped their price target on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company raised their price target on Molina Healthcare from $315.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $406.00 price target on shares of Molina Healthcare in a research note on Tuesday. Finally, Truist Financial dropped their price target on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $378.00.

Insider Transactions at Molina Healthcare

In related news, CAO Maurice Hebert sold 393 shares of Molina Healthcare 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 directly owns 9,473 shares in the company, valued at approximately $3,282,583.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare 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 directly owns 18,025 shares in the company, valued at approximately $6,114,260.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Maurice Hebert sold 393 shares of Molina Healthcare 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 $3,282,583.96. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Molina Healthcare Price Performance

MOH opened at $341.91 on Wednesday. The stock has a 50-day moving average price of $341.76 and a 200-day moving average price of $340.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $20.04 billion, a PE ratio of 18.79, a P/E/G ratio of 1.21 and a beta of 0.57. Molina Healthcare, Inc. has a 1 year low of $282.96 and a 1 year high of $423.92.

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

Molina Healthcare Profile

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.