Truist Financial Corp Boosts Stake in Molina Healthcare, Inc. (NYSE:MOH)

Truist Financial Corp raised its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,626 shares of the company’s stock after purchasing an additional 12,728 shares during the period. Truist Financial Corp owned 0.17% of Molina Healthcare worth $35,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Molina Healthcare by 8.3% during the third quarter. Wellington Management Group LLP now owns 3,395,040 shares of the company’s stock valued at $1,113,200,000 after purchasing an additional 259,474 shares during the period. FMR LLC raised its position in Molina Healthcare by 1.0% during the third quarter. FMR LLC now owns 2,175,796 shares of the company’s stock valued at $713,422,000 after purchasing an additional 22,583 shares during the period. Invesco Ltd. raised its position in Molina Healthcare by 10.4% during the third 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. Northern Trust Corp raised its holdings in shares of Molina Healthcare by 5.6% in the third quarter. Northern Trust Corp now owns 604,431 shares of the company’s stock worth $198,187,000 after buying an additional 31,786 shares during the period. Finally, Lord Abbett & CO. LLC raised its holdings in shares of Molina Healthcare by 28.5% in the third quarter. Lord Abbett & CO. LLC now owns 470,386 shares of the company’s stock worth $154,234,000 after buying an additional 104,350 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Molina Healthcare Stock Down 2.9 %

Shares of NYSE MOH opened at $342.23 on Monday. 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 stock has a market capitalization of $20.05 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 0.96 and a beta of 0.47. The stock’s fifty day simple moving average is $390.34 and its two-hundred day simple moving average is $372.35. Molina Healthcare, Inc. has a 12-month low of $266.35 and a 12-month high of $423.92.

Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.46 by $0.27. The business had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.45 billion. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the firm earned $5.81 EPS. As a group, analysts expect that Molina Healthcare, Inc. will post 23.62 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MOH. Bank of America downgraded Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price target on the stock. in a report on Thursday, March 28th. Cantor Fitzgerald restated an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a report on Thursday, April 4th. Truist Financial raised their price objective on Molina Healthcare from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Barclays reduced their price objective on Molina Healthcare from $437.00 to $430.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Stephens restated an “equal weight” rating and set a $390.00 price objective on shares of Molina Healthcare in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Molina Healthcare has a consensus rating of “Hold” and a consensus target price of $400.70.

Insider Transactions at Molina Healthcare

In other news, CFO Mark Lowell Keim sold 15,000 shares of the firm’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 completion of the sale, the chief financial officer now owns 36,531 shares of the company’s stock, valued at approximately $14,121,423.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mark Lowell Keim sold 15,000 shares of the firm’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 completion of the sale, the chief financial officer now owns 36,531 shares of the company’s stock, valued at approximately $14,121,423.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard M. Schapiro sold 1,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total value of $401,050.00. Following the completion of the sale, the director now directly owns 11,207 shares of the company’s stock, valued at approximately $4,494,567.35. The disclosure for this sale can be found here. Insiders sold 16,711 shares of company stock valued at $6,472,517 in the last quarter. 1.11% of the stock is currently owned by corporate insiders.

Molina Healthcare Company 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.