Man Group plc purchased a new stake in Molina Healthcare, Inc (NYSE:MOH – Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 30,022 shares of the company’s stock, valued at approximately $6,866,000. Man Group plc owned about 0.06% of Molina Healthcare as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its position in Molina Healthcare by 118.2% during the second quarter. Elevation Wealth Partners LLC now owns 144 shares of the company’s stock valued at $33,000 after buying an additional 78 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Molina Healthcare in the fourth quarter worth $26,000. MUFG Securities EMEA plc acquired a new stake in shares of Molina Healthcare in the second quarter worth $48,000. Global Retirement Partners LLC acquired a new stake in shares of Molina Healthcare in the second quarter worth $39,000. Finally, Quarry LP purchased a new position in shares of Molina Healthcare in the 4th quarter valued at $32,000. 98.50% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on MOH shares. TD Cowen boosted their price objective on Molina Healthcare from $163.00 to $230.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Mizuho set a $215.00 target price on Molina Healthcare in a research note on Monday, June 8th. Truist Financial dropped their target price on Molina Healthcare from $250.00 to $225.00 and set a “hold” rating on the stock in a report on Friday, July 24th. JPMorgan Chase & Co. boosted their price target on Molina Healthcare from $169.00 to $191.00 and gave the stock a “neutral” rating in a research report on Monday, June 8th. Finally, Morgan Stanley upped their price target on Molina Healthcare from $146.00 to $167.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $202.44.
Molina Healthcare Stock Performance
Shares of MOH stock opened at $200.03 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.68 and a current ratio of 1.68. Molina Healthcare, Inc has a one year low of $121.06 and a one year high of $244.89. The company’s 50-day simple moving average is $211.49 and its 200-day simple moving average is $179.63. The stock has a market capitalization of $10.44 billion, a price-to-earnings ratio of -1,111.22, a PEG ratio of 28.66 and a beta of 0.75.
Molina Healthcare (NYSE:MOH – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.12. Molina Healthcare had a positive return on equity of 3.73% and a negative net margin of 0.02%.The business had revenue of $10.87 billion during the quarter, compared to the consensus estimate of $10.83 billion. During the same period in the previous year, the business earned $5.48 EPS. The business’s quarterly revenue was down 4.8% on a year-over-year basis. Equities analysts anticipate that Molina Healthcare, Inc will post 5.29 earnings per share for the current fiscal year.
Molina Healthcare Profile
Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.
The company traces its roots to the early 1980s, when Dr.
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