Seven Eight Capital LP Acquires 2,553 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Seven Eight Capital LP boosted its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 203.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,808 shares of the company’s stock after acquiring an additional 2,553 shares during the quarter. Seven Eight Capital LP’s holdings in Molina Healthcare were worth $1,132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MOH. Cetera Investment Advisers raised its holdings in Molina Healthcare by 516.4% during the 1st quarter. Cetera Investment Advisers now owns 10,238 shares of the company’s stock valued at $4,206,000 after buying an additional 8,577 shares during the period. BlackBarn Capital Partners LP purchased a new stake in shares of Molina Healthcare in the fourth quarter valued at $15,139,000. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Molina Healthcare by 69.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,809 shares of the company’s stock worth $4,851,000 after acquiring an additional 4,840 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Molina Healthcare by 76.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 27,301 shares of the company’s stock valued at $9,864,000 after purchasing an additional 11,820 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Molina Healthcare by 5.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,208 shares of the company’s stock worth $1,159,000 after purchasing an additional 167 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Molina Healthcare Stock Performance

Shares of NYSE:MOH opened at $351.42 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $20.59 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 1.20 and a beta of 0.57. The firm has a 50 day moving average of $335.60 and a 200 day moving average of $343.44. Molina Healthcare, Inc. has a 52 week low of $282.96 and a 52 week high of $423.92.

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

Insider Transactions at Molina Healthcare

In related news, CAO Maurice Hebert sold 393 shares of the 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 owns 9,473 shares of the company’s stock, valued at $3,282,583.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the transaction, the director now directly owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the sale, the chief accounting officer now directly owns 9,473 shares in the company, valued at approximately $3,282,583.96. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

MOH has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research report on Monday, July 29th. JPMorgan Chase & Co. cut their price objective on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen decreased their target price on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Stephens restated an “equal weight” rating and issued a $320.00 price target on shares of Molina Healthcare in a report on Thursday, July 25th. Finally, Baird R W upgraded shares of Molina Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $378.00.

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.