Renaissance Technologies LLC lifted its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 33.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 2,805,850 shares of the company’s stock after buying an additional 709,100 shares during the quarter. Renaissance Technologies LLC’s holdings in Molina Healthcare were worth $274,805,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MOH. FMR LLC grew its position in shares of Molina Healthcare by 85.3% in the 2nd quarter. FMR LLC now owns 4,584,133 shares of the company’s stock valued at $448,970,000 after purchasing an additional 2,110,308 shares during the period. Tiedemann Advisors LLC boosted its position in Molina Healthcare by 30.9% during the 1st quarter. Tiedemann Advisors LLC now owns 1,764,371 shares of the company’s stock worth $143,231,000 after acquiring an additional 416,159 shares during the last quarter. Smith Asset Management Group LP acquired a new position in Molina Healthcare during the 2nd quarter worth approximately $32,522,000. TCW Group Inc. boosted its position in Molina Healthcare by 83.3% during the 1st quarter. TCW Group Inc. now owns 726,883 shares of the company’s stock worth $59,008,000 after acquiring an additional 330,339 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in Molina Healthcare during the 2nd quarter worth approximately $32,096,000.
In other news, Director Daniel Cooperman sold 943 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $133.81, for a total transaction of $126,182.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Norman Nichols sold 4,501 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $127.00, for a total value of $571,627.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,717 shares of company stock worth $1,451,162. Company insiders own 0.65% of the company’s stock.
A number of equities analysts have weighed in on MOH shares. Zacks Investment Research raised Molina Healthcare from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday, July 24th. BMO Capital Markets upped their price target on Molina Healthcare from $85.00 to $94.00 and gave the stock a “market perform” rating in a research report on Friday, June 1st. Barclays started coverage on Molina Healthcare in a research report on Monday, July 23rd. They set an “equal weight” rating and a $105.00 price target for the company. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $134.00 price target on shares of Molina Healthcare in a research report on Thursday, August 2nd. Finally, SunTrust Banks upped their price target on Molina Healthcare to $140.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $114.15.
Shares of Molina Healthcare stock opened at $137.72 on Wednesday. Molina Healthcare, Inc. has a 12-month low of $58.66 and a 12-month high of $141.12. The company has a market cap of $8.52 billion, a PE ratio of 245.93, a P/E/G ratio of 1.35 and a beta of 1.27. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.73.
Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Tuesday, July 31st. The company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $1.99. Molina Healthcare had a positive return on equity of 23.01% and a negative net margin of 0.26%. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the prior year, the business posted ($4.01) EPS. The business’s revenue was down 2.3% compared to the same quarter last year. equities analysts expect that Molina Healthcare, Inc. will post 6.67 earnings per share for the current fiscal year.
Molina Healthcare Profile
Molina Healthcare, Inc provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program in the United States. It operates through three segments: Health Plans, Molina Medicaid Solutions, and Other.
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