Intech Investment Management LLC Lowers Stake in Molina Healthcare, Inc. (NYSE:MOH)

Intech Investment Management LLC cut its position in Molina Healthcare, Inc. (NYSE:MOH) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,827 shares of the company’s stock after selling 979 shares during the period. Intech Investment Management LLC’s holdings in Molina Healthcare were worth $4,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. MQS Management LLC purchased a new stake in Molina Healthcare in the 2nd quarter worth $269,000. XTX Topco Ltd boosted its stake in shares of Molina Healthcare by 176.2% in the second quarter. XTX Topco Ltd now owns 1,823 shares of the company’s stock worth $542,000 after acquiring an additional 1,163 shares during the period. Seven Eight Capital LP grew its position in shares of Molina Healthcare by 203.4% during the second quarter. Seven Eight Capital LP now owns 3,808 shares of the company’s stock worth $1,132,000 after purchasing an additional 2,553 shares in the last quarter. Hsbc Holdings PLC raised its stake in Molina Healthcare by 14.8% during the 2nd quarter. Hsbc Holdings PLC now owns 113,259 shares of the company’s stock valued at $33,726,000 after purchasing an additional 14,563 shares during the period. Finally, Amalgamated Bank lifted its holdings in Molina Healthcare by 16.0% in the 2nd quarter. Amalgamated Bank now owns 19,177 shares of the company’s stock worth $5,701,000 after purchasing an additional 2,647 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MOH has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a report on Tuesday, September 10th. Wells Fargo & Company raised their target price on shares of Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. TD Cowen decreased their price target on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Jefferies Financial Group cut their price objective on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $378.00.

Insider Buying and Selling

In related news, CAO Maurice Hebert sold 393 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the sale, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were 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 directly owns 18,025 shares of the company’s stock, valued at $6,114,260.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Maurice Hebert sold 393 shares of the firm’s 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 transaction, 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. 1.10% of the stock is owned by corporate insiders.

Molina Healthcare Price Performance

NYSE:MOH opened at $351.42 on Friday. The firm has a market capitalization of $20.59 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.20 and a beta of 0.57. 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 business has a 50 day simple moving average of $335.60 and a 200-day simple moving average of $343.15. 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 data on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, topping the consensus estimate of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The company had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.75 billion. During the same period in the previous year, the firm earned $5.65 earnings per share. Molina Healthcare’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities analysts forecast 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.