Envestnet Portfolio Solutions Inc. Sells 228 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Envestnet Portfolio Solutions Inc. cut its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 23.5% during the 4th quarter, HoldingsChannel reports. The firm owned 742 shares of the company’s stock after selling 228 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Molina Healthcare were worth $268,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings 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 acquiring an additional 259,474 shares during the last quarter. Invesco Ltd. grew its holdings in Molina Healthcare by 10.4% during the 3rd quarter. Invesco Ltd. now owns 1,190,161 shares of the company’s stock worth $390,242,000 after acquiring an additional 112,243 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Molina Healthcare by 28.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 470,386 shares of the company’s stock worth $154,234,000 after acquiring an additional 104,350 shares during the last quarter. 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 worth $37,282,000 after acquiring an additional 100,680 shares during the last quarter. Finally, Truist Financial Corp grew its holdings in Molina Healthcare by 664.1% during the 3rd quarter. Truist Financial Corp now owns 85,898 shares of the company’s stock worth $28,165,000 after acquiring an additional 74,657 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Molina Healthcare Stock Down 2.6 %

Molina Healthcare stock opened at $332.13 on Friday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.53. Molina Healthcare, Inc. has a 12-month low of $266.35 and a 12-month high of $423.92. The firm’s fifty day moving average is $368.87 and its 200 day moving average is $372.20. The company has a market capitalization of $19.46 billion, a PE ratio of 18.02, a PEG ratio of 1.05 and a beta of 0.54.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.46 by $0.27. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. The company had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.45 billion. During the same quarter in the previous year, the company earned $5.81 EPS. Molina Healthcare’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts predict that Molina Healthcare, Inc. will post 23.57 EPS for the current fiscal year.

Insider Activity at Molina Healthcare

In related news, COO James Woys sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the transaction, the chief operating officer now owns 53,613 shares in the company, valued at approximately $18,504,526.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Molina Healthcare news, COO James Woys sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the transaction, the chief operating officer now owns 53,613 shares in the company, valued at $18,504,526.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronna Romney sold 250 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total transaction of $85,817.50. Following the transaction, the director now owns 16,945 shares in the company, valued at approximately $5,816,710.15. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MOH. Wells Fargo & Company reduced their target price on shares of Molina Healthcare from $410.00 to $375.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Truist Financial upped their price objective on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. TD Cowen reduced their price objective on shares of Molina Healthcare from $453.00 to $412.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Stephens reaffirmed an “equal weight” rating and issued a $390.00 price objective on shares of Molina Healthcare in a research note on Thursday, April 25th. Finally, StockNews.com lowered shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $404.90.

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.