State of Alaska Department of Revenue raised its position in Molina Healthcare, Inc. (NYSE:MOH) by 62.1% during the third quarter, Holdings Channel reports. The institutional investor owned 10,231 shares of the company’s stock after buying an additional 3,921 shares during the quarter. State of Alaska Department of Revenue’s holdings in Molina Healthcare were worth $1,520,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. FMR LLC boosted its position in 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 buying an additional 2,110,308 shares during the last quarter. Renaissance Technologies LLC boosted its position in Molina Healthcare by 33.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,805,850 shares of the company’s stock valued at $274,805,000 after buying an additional 709,100 shares during the last quarter. Iridian Asset Management LLC CT boosted its position in Molina Healthcare by 10.6% in the 2nd quarter. Iridian Asset Management LLC CT now owns 1,972,634 shares of the company’s stock valued at $193,200,000 after buying an additional 188,902 shares during the last quarter. TCW Group Inc. boosted its position in Molina Healthcare by 21.4% in the 2nd quarter. TCW Group Inc. now owns 882,097 shares of the company’s stock valued at $86,393,000 after buying an additional 155,214 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Molina Healthcare in the 2nd quarter valued at $48,044,000.
NYSE:MOH opened at $142.40 on Friday. Molina Healthcare, Inc. has a 12-month low of $62.08 and a 12-month high of $154.06. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market capitalization of $8.84 billion, a PE ratio of 254.29, a P/E/G ratio of 1.65 and a beta of 1.27.
Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Tuesday, July 31st. The company reported $3.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company earned ($4.01) EPS. The firm’s revenue was down 2.3% on a year-over-year basis. Analysts forecast that Molina Healthcare, Inc. will post 6.68 EPS for the current fiscal year.
A number of research analysts have commented on MOH shares. Piper Jaffray Companies increased their price objective on Molina Healthcare to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, September 26th. Barclays increased their price objective on Molina Healthcare from $105.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, August 2nd. SunTrust Banks increased their price objective on Molina Healthcare to $120.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Bank of America increased their price objective on Molina Healthcare from $91.00 to $94.00 and gave the company an “underperform” rating in a research report on Tuesday, July 24th. Finally, Morgan Stanley increased their price objective on Molina Healthcare from $178.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $129.77.
In other Molina Healthcare news, insider James Woys bought 25,000 shares of Molina Healthcare stock in a transaction on Wednesday, September 19th. The shares were purchased at an average cost of $148.79 per share, for a total transaction of $3,719,750.00. Following the completion of the acquisition, the insider now owns 17,203 shares in the company, valued at approximately $2,559,634.37. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Daniel Cooperman sold 943 shares of Molina Healthcare stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $133.81, for a total value of $126,182.83. The disclosure for this sale can be found here. Insiders sold a total of 9,717 shares of company stock worth $1,289,932 over the last 90 days. 0.65% of the stock is owned by corporate insiders.
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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