Stone Ridge Asset Management LLC purchased a new position in shares of Molina Healthcare, Inc. (NYSE:MOH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,572 shares of the company’s stock, valued at approximately $234,000.
Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its stake in shares of Molina Healthcare by 2,264.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 93,813 shares of the company’s stock worth $118,000 after acquiring an additional 89,845 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of Molina Healthcare during the 2nd quarter worth approximately $165,000. Alpha Cubed Investments LLC purchased a new stake in Molina Healthcare in the 3rd quarter valued at approximately $200,000. Zeke Capital Advisors LLC purchased a new stake in Molina Healthcare in the 2nd quarter valued at approximately $206,000. Finally, CIBC Asset Management Inc purchased a new stake in Molina Healthcare in the 2nd quarter valued at approximately $211,000.
A number of equities research analysts recently issued reports on the company. Jefferies Financial Group raised Molina Healthcare from a “hold” rating to a “buy” rating and upped their target price for the company from $152.00 to $169.00 in a research note on Tuesday, November 13th. ValuEngine lowered Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Zacks Investment Research raised Molina Healthcare from a “hold” rating to a “strong-buy” rating and set a $155.00 target price on the stock in a research note on Tuesday, October 23rd. Morgan Stanley upped their target price on Molina Healthcare from $178.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday, October 18th. Finally, Evercore ISI assumed coverage on 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $131.92.
Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.90. Molina Healthcare had a return on equity of 30.50% and a net margin of 1.27%. The company had revenue of $4.70 billion for the quarter, compared to analyst estimates of $4.72 billion. During the same quarter in the prior year, the company posted ($1.62) EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts expect that Molina Healthcare, Inc. will post 8.12 earnings per share for the current fiscal year.
In other Molina Healthcare news, insider James Woys purchased 25,000 shares of Molina Healthcare stock in a transaction on Wednesday, September 19th. The shares were bought at an average price of $148.79 per share, with a total value of $3,719,750.00. Following the purchase, the insider now directly 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 available through this hyperlink. Also, insider Jeff D. Barlow sold 3,823 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $139.22, for a total value of $532,238.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,868 shares of company stock worth $1,703,690. Corporate insiders own 0.65% of the company’s stock.
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About Molina Healthcare
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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