Seven Eight Capital LP boosted its position in Molina Healthcare, Inc. (NYSE:MOH) by 795.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,552 shares of the company’s stock after buying an additional 60,900 shares during the quarter. Seven Eight Capital LP’s holdings in Molina Healthcare were worth $10,194,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Aperio Group LLC lifted its holdings in Molina Healthcare by 1.6% in the 3rd quarter. Aperio Group LLC now owns 22,234 shares of the company’s stock worth $3,306,000 after buying an additional 360 shares in the last quarter. World Asset Management Inc lifted its holdings in Molina Healthcare by 13.9% in the 3rd quarter. World Asset Management Inc now owns 3,047 shares of the company’s stock worth $453,000 after buying an additional 372 shares in the last quarter. Vident Investment Advisory LLC lifted its holdings in Molina Healthcare by 1.5% in the 2nd quarter. Vident Investment Advisory LLC now owns 38,230 shares of the company’s stock worth $3,744,000 after buying an additional 573 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in Molina Healthcare by 22.5% in the 2nd quarter. First Mercantile Trust Co. now owns 3,442 shares of the company’s stock worth $337,000 after buying an additional 632 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its holdings in Molina Healthcare by 5.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $1,254,000 after buying an additional 700 shares in the last quarter.
Shares of Molina Healthcare stock traded down $0.97 during trading on Thursday, reaching $142.16. The company had a trading volume of 17,411 shares, compared to its average volume of 1,121,019. The firm has a market cap of $9.18 billion, a PE ratio of 258.20, a price-to-earnings-growth ratio of 1.45 and a beta of 1.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.38 and a current ratio of 1.38. Molina Healthcare, Inc. has a fifty-two week low of $61.75 and a fifty-two week high of $154.06.
Molina Healthcare (NYSE:MOH) last issued its earnings results on Tuesday, July 31st. The company reported $3.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $1.99. The business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.67 billion. Molina Healthcare had a negative net margin of 0.26% and a positive return on equity of 23.01%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($4.01) EPS. On average, equities analysts predict that Molina Healthcare, Inc. will post 6.68 earnings per share for the current year.
In related news, Director Ronna Romney sold 200 shares of the business’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $138.11, for a total transaction of $27,622.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Norman Nichols sold 4,501 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $127.00, for a total transaction of $571,627.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,717 shares of company stock worth $1,289,932. Company insiders own 0.65% of the company’s stock.
A number of brokerages have commented on MOH. Zacks Investment Research upgraded shares of Molina Healthcare from a “hold” rating to a “strong-buy” rating and set a $113.00 price objective on the stock in a report on Saturday, June 30th. JPMorgan Chase & Co. lowered shares of Molina Healthcare from an “overweight” rating to a “neutral” rating in a research note on Wednesday, June 27th. They noted that the move was a valuation call. Evercore ISI initiated coverage on shares of Molina Healthcare in a research note on Tuesday, October 9th. They issued an “in-line” rating and a $158.00 target price on the stock. Jefferies Financial Group lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Friday, October 12th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their target price on shares of Molina Healthcare from $178.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $129.77.
Molina Healthcare Company 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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