Insight Wealth Strategies LLC Grows Stake in Molina Healthcare, Inc. (NYSE:MOH)

Insight Wealth Strategies LLC raised its stake in Molina Healthcare, Inc. (NYSE:MOH) by 65.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,573 shares of the company’s stock after acquiring an additional 4,584 shares during the period. Insight Wealth Strategies LLC’s holdings in Molina Healthcare were worth $3,988,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of Molina Healthcare by 59.2% in the third quarter. GAMMA Investing LLC now owns 543 shares of the company’s stock worth $187,000 after acquiring an additional 202 shares during the last quarter. Czech National Bank grew its stake in shares of Molina Healthcare by 6.9% in the third quarter. Czech National Bank now owns 11,937 shares of the company’s stock worth $4,113,000 after acquiring an additional 771 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Molina Healthcare by 23.0% in the third quarter. Handelsbanken Fonder AB now owns 14,437 shares of the company’s stock worth $4,974,000 after acquiring an additional 2,700 shares during the last quarter. JLB & Associates Inc. lifted its holdings in shares of Molina Healthcare by 3.8% during the third quarter. JLB & Associates Inc. now owns 10,273 shares of the company’s stock valued at $3,540,000 after purchasing an additional 380 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Molina Healthcare during the second quarter valued at $1,077,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare 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 sale, the director now owns 18,025 shares of the company’s stock, valued at $6,114,260.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 9,473 shares in the company, valued at $3,282,583.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $339,210.00. Following the transaction, the director now owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MOH. Jefferies Financial Group reduced their price objective on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 price objective on shares of Molina Healthcare in a report on Tuesday, October 1st. Finally, Truist Financial reduced their price objective on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $378.00.

Molina Healthcare Price Performance

NYSE MOH traded up $0.97 during trading hours on Tuesday, reaching $326.23. The company’s stock had a trading volume of 12,538 shares, compared to its average volume of 487,437. The firm’s 50-day moving average price is $343.61 and its 200-day moving average price is $337.58. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. Molina Healthcare, Inc. has a 1 year low of $282.96 and a 1 year high of $423.92. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 17.64, a PEG ratio of 1.21 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, topping 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 analysts’ expectations of $9.75 billion. During the same period in the previous year, the firm earned $5.65 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts predict that Molina Healthcare, Inc. will post 23.5 EPS for the current fiscal 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.