Molina Healthcare, Inc. (NYSE:MOH) Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in Molina Healthcare, Inc. (NYSE:MOH) by 139.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 64,496 shares of the company’s stock after buying an additional 37,509 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.11% of Molina Healthcare worth $26,497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. McIlrath & Eck LLC acquired a new position in Molina Healthcare during the fourth quarter worth about $34,000. VisionPoint Advisory Group LLC increased its stake in Molina Healthcare by 105.6% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 111 shares of the company’s stock worth $36,000 after purchasing an additional 57 shares in the last quarter. Raleigh Capital Management Inc. increased its stake in Molina Healthcare by 40.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 125 shares of the company’s stock worth $41,000 after purchasing an additional 36 shares in the last quarter. Principal Securities Inc. purchased a new position in Molina Healthcare in the 4th quarter worth about $42,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its stake in Molina Healthcare by 3,933.3% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 121 shares of the company’s stock worth $43,000 after purchasing an additional 118 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Molina Healthcare Stock Down 1.1 %

MOH opened at $293.19 on Friday. The business has a 50 day moving average price of $321.87 and a 200 day moving average price of $360.45. Molina Healthcare, Inc. has a twelve month low of $288.79 and a twelve month high of $423.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 1.49. The firm has a market cap of $17.18 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 0.91 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $5.73 EPS for the quarter, topping analysts’ consensus estimates of $5.46 by $0.27. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. The company had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.45 billion. During the same period in the previous year, the company earned $5.81 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. Research analysts forecast that Molina Healthcare, Inc. will post 23.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Molina Healthcare from $435.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Stephens reaffirmed an “equal weight” rating and set a $390.00 target price on shares of Molina Healthcare in a research note on Thursday, April 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 target price on shares of Molina Healthcare in a research note on Thursday, April 4th. Baird R W raised Molina Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Barclays reduced their price target on Molina Healthcare from $437.00 to $430.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Molina Healthcare has an average rating of “Moderate Buy” and a consensus target price of $407.45.

Insider Activity

In other news, COO James Woys sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the sale, the chief operating officer now directly owns 53,613 shares in the company, valued at $18,504,526.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Molina Healthcare news, COO James Woys sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total value of $3,451,500.00. Following the sale, the chief operating officer now directly owns 53,613 shares in the company, valued at $18,504,526.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronna Romney sold 250 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total value of $85,817.50. Following the completion of the sale, the director now owns 16,945 shares in the company, valued at $5,816,710.15. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by company insiders.

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.