Hartford Investment Management Co. acquired a new stake in Molina Healthcare, Inc. (NYSE: MOH – Get Rating ) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 5,573 shares of the company’s stock, valued at approximately $1,859,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Molina Healthcare in the fourth quarter worth about $38,143,000. Victory Capital Management Inc. increased its position in shares of Molina Healthcare by 0.8% in the fourth quarter. Victory Capital Management Inc. now owns 580,060 shares of the company’s stock valued at $184,506,000 after buying an additional 4,684 shares during the period. Bank of America Corp DE boosted its position in shares of Molina Healthcare by 8.5% during the fourth quarter. Bank of America Corp DE now owns 284,533 shares of the company’s stock valued at $90,504,000 after purchasing an additional 22,347 shares during the period. Argent Capital Management LLC boosted its position in shares of Molina Healthcare by 1.7% during the fourth quarter. Argent Capital Management LLC now owns 9,444 shares of the company’s stock valued at $3,004,000 after buying an additional 158 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Molina Healthcare by 12.6% in the third quarter. Captrust Financial Advisors now owns 1,672 shares of the company’s stock valued at $454,000 after buying an additional 187 shares during the period. Hedge funds and other institutional investors own 94.82% of the company’s shares.
Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Molina Healthcare from $308.00 to $311.00 in a research report on Monday, May 2nd. Loop Capital initiated coverage on shares of Molina Healthcare in a report on Thursday, June 16th. They issued a “hold” rating and a $310.00 target price on the stock. StockNews.com initiated coverage on shares of Molina Healthcare in a report on Thursday, March 31st. They issued a “strong buy” rating on the stock. Cowen boosted their target price on shares of Molina Healthcare from $356.00 to $366.00 in a report on Monday, May 2nd. Finally, Cowen boosted their target price on shares of Molina Healthcare from $356.00 to $366.00 in a report on Monday, May 2nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Moderate Buy” and an average target price of $335.42, according to MarketBeat.
In related news, Director Ronna Romney sold 200 shares of the stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $307.94, for a total transaction of $61,588.00. Following the transaction, the director now owns 16,657 shares in the company, valued at $5,129,356.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. 1.49% of shares are owned by corporate insiders.
Shares of NYSE MOH opened at $282.90 on Monday. The firm’s 50-day moving average is $290.74 and its 200-day moving average is $305.67. The company has a market cap of $16.61 billion, a PE ratio of 24.08, a P/E/G ratio of 1.00 and a beta of 0.80. Molina Healthcare, Inc. has a 52-week low of $243.32 and a 52-week high of $350.19. The company has a debt-to-equity ratio of 0.86, a quick earnings ratio of 1.44 and a current ratio of 1.44.
Molina Healthcare (NYSE:MOH – Get Rating ) last posted its earnings results on Wednesday, April 27. The company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.16. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.54 billion. Molina Healthcare had a net margin of 2.37% and a return on equity of 31.85%. In the same quarter last year, the firm posted earnings of $4.44 per share. On average, analysts predict that Molina Healthcare, Inc. will report 17.18 earnings per share for the current fiscal year.
About Molina Healthcare (Get Rating)
Molina Healthcare, Inc provides managed health care services to low-income families and individuals under the Medicaid and Medicare programs and through state insurance marketplaces. It operates in four segments, Medicaid, Medicare, Marketplace and Other. As of December 31, 2021, the company served approximately 5.2 million members eligible for Medicaid, Medicare and other government-sponsored health care programs in 18 states.
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