Wedge Capital Management L L P NC Cuts Position in Molina Healthcare, Inc. (NYSE:MOH)

Wedge Capital Management L L P NC lowered its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,177 shares of the company’s stock after selling 15,497 shares during the period. Wedge Capital Management L L P NC owned 0.14% of Molina Healthcare worth $29,330,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Desjardins Global Asset Management Inc. raised its holdings in shares of Molina Healthcare by 4.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 763 shares of the company’s stock valued at $276,000 after acquiring an additional 32 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Molina Healthcare by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 1,620 shares of the company’s stock worth $585,000 after purchasing an additional 33 shares in the last quarter. New York Life Investment Management LLC grew its holdings in shares of Molina Healthcare by 0.4% in the third quarter. New York Life Investment Management LLC now owns 8,495 shares of the company’s stock worth $2,785,000 after acquiring an additional 36 shares during the period. Aptus Capital Advisors LLC grew its holdings in Molina Healthcare by 5.0% during the third quarter. Aptus Capital Advisors LLC now owns 763 shares of the company’s stock valued at $250,000 after purchasing an additional 36 shares during the period. Finally, Raleigh Capital Management Inc. lifted its position in shares of Molina Healthcare by 40.4% in the third quarter. Raleigh Capital Management Inc. now owns 125 shares of the company’s stock valued at $41,000 after acquiring an additional 36 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MOH. Cantor Fitzgerald restated an “overweight” rating and set a $406.00 target price on shares of Molina Healthcare in a report on Thursday, April 4th. Wells Fargo & Company cut their price objective on Molina Healthcare from $440.00 to $410.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. Truist Financial increased their target price on Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. StockNews.com downgraded shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, Barclays began coverage on shares of Molina Healthcare in a research note on Wednesday, March 6th. They set an “equal weight” rating and a $437.00 target price for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $393.09.

Insider Buying and Selling

In related news, Director Richard M. Schapiro sold 1,000 shares of Molina Healthcare stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total transaction of $401,050.00. Following the sale, the director now directly owns 11,207 shares in the company, valued at approximately $4,494,567.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Molina Healthcare news, Director Richard M. Schapiro sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total transaction of $401,050.00. Following the completion of the sale, the director now owns 11,207 shares in the company, valued at approximately $4,494,567.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark Lowell Keim sold 15,000 shares of Molina Healthcare stock in a transaction on Monday, February 12th. The stock was sold at an average price of $386.56, for a total transaction of $5,798,400.00. Following the transaction, the chief financial officer now directly owns 36,531 shares in the company, valued at $14,121,423.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,711 shares of company stock valued at $6,472,517. 1.11% of the stock is owned by company insiders.

Molina Healthcare Price Performance

MOH stock traded down $5.65 during trading on Monday, hitting $361.87. 370,439 shares of the stock traded hands, compared to its average volume of 394,917. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.57. The stock has a market cap of $21.20 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 1.03 and a beta of 0.47. Molina Healthcare, Inc. has a one year low of $266.35 and a one year high of $423.92. The company has a 50 day simple moving average of $394.33 and a 200 day simple moving average of $371.60.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, February 7th. The company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.31 by $0.07. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The firm had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the prior year, the firm earned $4.10 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Equities analysts expect that Molina Healthcare, Inc. will post 23.62 EPS for the current fiscal year.

About Molina Healthcare

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.