Ballentine Partners LLC Reduces Stock Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Ballentine Partners LLC lowered its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,928 shares of the company’s stock after selling 96 shares during the quarter. Ballentine Partners LLC’s holdings in Molina Healthcare were worth $870,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Molina Healthcare in the second quarter valued at $36,000. Principal Securities Inc. bought a new stake in Molina Healthcare in the fourth quarter worth about $42,000. AM Squared Ltd purchased a new position in shares of Molina Healthcare during the second quarter valued at approximately $59,000. Mather Group LLC. bought a new position in shares of Molina Healthcare during the first quarter valued at approximately $123,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Molina Healthcare by 47.0% in the first quarter. Lindbrook Capital LLC now owns 322 shares of the company’s stock worth $132,000 after buying an additional 103 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped 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. TD Cowen reduced 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. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Truist Financial reduced their target price on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Robert W. Baird began coverage on Molina Healthcare in a report on Thursday, May 30th. They issued an “outperform” rating and a $405.00 price target for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Molina Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $378.00.

Molina Healthcare Stock Down 1.2 %

Shares of NYSE MOH opened at $323.53 on Tuesday. Molina Healthcare, Inc. has a 12-month low of $282.96 and a 12-month high of $423.92. The stock’s fifty day simple moving average is $324.98 and its two-hundred day simple moving average is $345.60. The stock has a market capitalization of $18.96 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.14 and a beta of 0.57. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49.

Molina Healthcare (NYSE:MOH) last posted its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.73 by $0.13. The company had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.65 earnings per share. As a group, analysts expect that Molina Healthcare, Inc. will post 23.5 EPS for the current fiscal year.

Insider Buying and Selling

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Maurice Hebert sold 393 shares of the company’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 transaction, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. The disclosure for this sale can be found here. 1.10% 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.