Magnetar Financial LLC Acquires Shares of 8,589 Molina Healthcare, Inc. (NYSE:MOH)

Magnetar Financial LLC purchased a new position in shares of Molina Healthcare, Inc. (NYSE:MOH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,589 shares of the company’s stock, valued at approximately $2,554,000.

Several other institutional investors have also recently made changes to their positions in MOH. Cetera Investment Advisers raised its stake in Molina Healthcare by 516.4% in the first quarter. Cetera Investment Advisers now owns 10,238 shares of the company’s stock worth $4,206,000 after buying an additional 8,577 shares in the last quarter. BlackBarn Capital Partners LP purchased a new stake in shares of Molina Healthcare during the 4th quarter valued at $15,139,000. BI Asset Management Fondsmaeglerselskab A S boosted its position 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 purchasing an additional 4,840 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake 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 worth $9,864,000 after buying an additional 11,820 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Molina Healthcare by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,208 shares of the company’s stock valued at $1,159,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MOH. Cantor Fitzgerald restated an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research note on Tuesday, September 10th. TD Cowen cut their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their target price on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. Truist Financial cut their price target on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, Wells Fargo & Company boosted 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 report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $378.00.

Molina Healthcare Price Performance

MOH stock opened at $347.98 on Tuesday. Molina Healthcare, Inc. has a 1 year low of $282.96 and a 1 year high of $423.92. 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 capitalization of $20.39 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 1.20 and a beta of 0.57. The business has a 50 day simple moving average of $336.88 and a 200-day simple moving average of $342.52.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, beating 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 business had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same quarter in the prior year, the company posted $5.65 EPS. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. Equities research analysts anticipate that Molina Healthcare, Inc. will post 23.5 earnings per share for the current fiscal year.

Insider Transactions at Molina Healthcare

In other news, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the transaction, 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 legal filing with the SEC, which is available at the SEC website. In related news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 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 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. Company insiders own 1.10% of the company’s stock.

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.