Summit Global Investments Has $455,000 Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Summit Global Investments cut its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 95.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,319 shares of the company’s stock after selling 25,369 shares during the period. Summit Global Investments’ holdings in Molina Healthcare were worth $455,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in shares of Molina Healthcare by 15.5% in the first quarter. Janney Montgomery Scott LLC now owns 3,733 shares of the company’s stock valued at $1,534,000 after buying an additional 502 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Molina Healthcare by 5.5% in the first quarter. Sei Investments Co. now owns 41,038 shares of the company’s stock valued at $16,859,000 after purchasing an additional 2,157 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Molina Healthcare by 1,425.9% in the first quarter. QRG Capital Management Inc. now owns 9,613 shares of the company’s stock valued at $3,949,000 after purchasing an additional 8,983 shares in the last quarter. Russell Investments Group Ltd. raised its position in Molina Healthcare by 27.3% in the 1st quarter. Russell Investments Group Ltd. now owns 119,149 shares of the company’s stock worth $49,066,000 after purchasing an additional 25,567 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Molina Healthcare by 7.8% in the 1st quarter. US Bancorp DE now owns 2,332 shares of the company’s stock valued at $958,000 after buying an additional 168 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Molina Healthcare

In other news, CAO Maurice Hebert sold 393 shares of the company’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 in the company, valued at $3,282,583.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MOH shares. Wells Fargo & Company upped their price target on Molina Healthcare from $360.00 to $362.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. TD Cowen reduced 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. Truist Financial decreased their target price on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a research note on Thursday, October 24th. Finally, StockNews.com raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Molina Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $367.17.

Molina Healthcare Stock Performance

Shares of Molina Healthcare stock opened at $329.65 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.54 and a quick ratio of 1.55. The firm has a market cap of $18.86 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.14 and a beta of 0.59. The stock’s 50-day moving average is $330.97 and its 200-day moving average is $326.68. Molina Healthcare, Inc. has a one year low of $272.69 and a one year high of $423.92.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 EPS for the quarter, topping analysts’ consensus estimates of $5.96 by $0.05. The business had revenue of $10.34 billion for the quarter, compared to analyst estimates of $9.92 billion. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.05 earnings per share. Equities analysts predict that Molina Healthcare, Inc. will post 23.44 earnings per share 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.