Allspring Global Investments Holdings LLC Trims Stake in Molina Healthcare, Inc. (NYSE:MOH)

Allspring Global Investments Holdings LLC lessened its position in Molina Healthcare, Inc. (NYSE:MOH) by 63.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,580 shares of the company’s stock after selling 44,607 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Molina Healthcare were worth $8,814,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Swedbank AB bought a new position in shares of Molina Healthcare during the first quarter valued at approximately $69,320,000. Jupiter Asset Management Ltd. boosted its holdings in Molina Healthcare by 434.6% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock valued at $55,181,000 after acquiring an additional 150,890 shares during the period. AQR Capital Management LLC grew its position in Molina Healthcare by 36.2% in the 2nd quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock valued at $137,810,000 after acquiring an additional 123,121 shares during the last quarter. Renaissance Technologies LLC increased its stake in Molina Healthcare by 13.3% in the second quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock worth $282,343,000 after purchasing an additional 111,154 shares during the period. Finally, Boston Partners lifted its position in shares of Molina Healthcare by 14.8% during the first quarter. Boston Partners now owns 798,950 shares of the company’s stock worth $328,101,000 after purchasing an additional 103,245 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MOH has been the topic of several recent analyst reports. 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 note on Monday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Barclays increased their price objective on Molina Healthcare from $359.00 to $372.00 and gave the stock an “equal weight” rating in a research note on Friday. TD Cowen dropped their price target on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price objective on Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $367.00.

Molina Healthcare Price Performance

Shares of NYSE MOH opened at $325.54 on Friday. Molina Healthcare, Inc. has a fifty-two week low of $272.69 and a fifty-two week high of $423.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $19.08 billion, a PE ratio of 17.84, a P/E/G ratio of 0.99 and a beta of 0.58. The business has a 50-day simple moving average of $335.23 and a two-hundred day simple moving average of $329.72.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, topping the consensus estimate of $5.96 by $0.05. The company had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $9.92 billion. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. Molina Healthcare’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.05 EPS. As a group, equities analysts expect that Molina Healthcare, Inc. will post 23.5 EPS for the current fiscal year.

Insider Activity at Molina Healthcare

In other Molina Healthcare 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 transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven J. Orlando sold 1,000 shares of the firm’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 transaction, the director now directly owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.