McIlrath & Eck LLC Takes $34,000 Position in Molina Healthcare, Inc. (NYSE:MOH)

McIlrath & Eck LLC acquired a new position in shares of Molina Healthcare, Inc. (NYSE:MOH) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 93 shares of the company’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MOH. Wellington Management Group LLP raised its stake in Molina Healthcare by 8.3% during the 3rd quarter. Wellington Management Group LLP now owns 3,395,040 shares of the company’s stock worth $1,113,200,000 after buying an additional 259,474 shares during the period. California Public Employees Retirement System boosted its holdings in Molina Healthcare by 53.0% in the 3rd quarter. California Public Employees Retirement System now owns 331,652 shares of the company’s stock worth $108,745,000 after buying an additional 114,890 shares during the period. Invesco Ltd. raised its stake in shares of Molina Healthcare by 10.4% during the 3rd quarter. Invesco Ltd. now owns 1,190,161 shares of the company’s stock valued at $390,242,000 after purchasing an additional 112,243 shares during the period. Lord Abbett & CO. LLC boosted its stake in Molina Healthcare by 28.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 470,386 shares of the company’s stock worth $154,234,000 after purchasing an additional 104,350 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Molina Healthcare by 4,019.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 103,185 shares of the company’s stock valued at $37,282,000 after buying an additional 100,680 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Molina Healthcare Stock Performance

NYSE:MOH traded down $0.05 during mid-day trading on Thursday, reaching $338.82. The company’s stock had a trading volume of 43,357 shares, compared to its average volume of 398,529. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The firm’s fifty day moving average price is $386.79 and its two-hundred day moving average price is $372.10. Molina Healthcare, Inc. has a 12-month low of $266.35 and a 12-month high of $423.92. The stock has a market cap of $19.85 billion, a P/E ratio of 18.39, a PEG ratio of 1.05 and a beta of 0.55.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.46 by $0.27. The business had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.45 billion. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. Molina Healthcare’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.81 EPS. On average, equities analysts forecast that Molina Healthcare, Inc. will post 23.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MOH has been the subject of several research analyst reports. Truist Financial lifted their price objective on Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. StockNews.com cut shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 8th. Barclays lowered their price target on shares of Molina Healthcare from $437.00 to $430.00 and set an “equal weight” rating for the company in a research note on Thursday, April 25th. TD Cowen lowered their price objective on Molina Healthcare from $453.00 to $412.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company dropped their target price on shares of Molina Healthcare from $410.00 to $375.00 and set an “equal weight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Molina Healthcare currently has an average rating of “Hold” and an average price target of $398.55.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now directly owns 12,207 shares in the company, valued at approximately $4,688,220.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of Molina Healthcare stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now owns 12,207 shares in the company, valued at $4,688,220.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lowell Keim sold 15,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $386.56, for a total value of $5,798,400.00. Following the transaction, the chief financial officer now owns 36,531 shares in the company, valued at $14,121,423.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,711 shares of company stock worth $6,472,517. Insiders own 1.10% of the company’s stock.

Molina Healthcare Profile

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.