Molina Healthcare, Inc. (NYSE:MOH) Shares Sold by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. cut its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 19.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 267 shares of the company’s stock after selling 63 shares during the quarter. Financial Gravity Asset Management Inc.’s holdings in Molina Healthcare were worth $2,311,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MOH. EverSource Wealth Advisors LLC increased its stake in Molina Healthcare by 2,950.0% in the first quarter. EverSource Wealth Advisors LLC now owns 122 shares of the company’s stock valued at $33,000 after purchasing an additional 118 shares during the period. Coppell Advisory Solutions Corp. acquired a new position in shares of Molina Healthcare during the fourth quarter worth about $34,000. ST Germain D J Co. Inc. acquired a new position in shares of Molina Healthcare during the fourth quarter worth about $36,000. Brown Brothers Harriman & Co. acquired a new position in shares of Molina Healthcare during the first quarter worth about $40,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of Molina Healthcare by 85.9% during the first quarter. Parkside Financial Bank & Trust now owns 132 shares of the company’s stock worth $44,000 after acquiring an additional 61 shares during the period. 98.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Molina Healthcare

In related news, Director Barbara L. Brasier sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $303.89, for a total transaction of $455,835.00. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at $982,172.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Barbara L. Brasier sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $303.89, for a total transaction of $455,835.00. Following the transaction, the director now owns 3,232 shares of the company’s stock, valued at $982,172.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff D. Barlow sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $302.77, for a total transaction of $3,784,625.00. Following the transaction, the insider now directly owns 64,973 shares in the company, valued at approximately $19,671,875.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,246 shares of company stock valued at $5,247,256. Company insiders own 1.10% of the company’s stock.

Molina Healthcare Stock Up 1.4 %

Shares of NYSE MOH opened at $320.47 on Friday. Molina Healthcare, Inc. has a 12-month low of $256.19 and a 12-month high of $374.00. The company has a market capitalization of $18.68 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.08 and a beta of 0.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.52 and a quick ratio of 1.52. The firm’s 50-day moving average is $309.71 and its two-hundred day moving average is $291.90.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $5.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.60. The company had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $8.32 billion. Molina Healthcare had a net margin of 2.81% and a return on equity of 35.87%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.55 earnings per share. Equities analysts anticipate that Molina Healthcare, Inc. will post 20.78 EPS for the current fiscal year.

Analysts Set New Price Targets

MOH has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $365.00 price target on shares of Molina Healthcare in a research note on Friday, July 14th. StockNews.com downgraded shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a report on Friday, August 25th. Truist Financial decreased their price objective on shares of Molina Healthcare from $380.00 to $365.00 in a report on Tuesday, June 20th. Bank of America boosted their price objective on shares of Molina Healthcare from $340.00 to $350.00 in a report on Thursday, July 27th. Finally, UBS Group assumed coverage on shares of Molina Healthcare in a report on Tuesday, June 20th. They set a “neutral” rating and a $310.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $350.92.

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.