Teacher Retirement System of Texas raised its position in Molina Healthcare Inc. (NYSE:MOH) by 6.2% during the second quarter, Holdings Channel reports. The fund owned 5,511 shares of the company’s stock after buying an additional 324 shares during the period. Teacher Retirement System of Texas’ holdings in Molina Healthcare were worth $275,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. BlackRock Japan Co. Ltd raised its stake in shares of Molina Healthcare by 9.0% in the first quarter. BlackRock Japan Co. Ltd now owns 1,848 shares of the company’s stock worth $119,000 after buying an additional 152 shares in the last quarter. Advance Capital I Inc. purchased a new stake in shares of Molina Healthcare during the second quarter worth about $215,000. Wright Investors Service Inc. purchased a new stake in shares of Molina Healthcare during the second quarter worth about $224,000. Mount Lucas Management LP raised its stake in shares of Molina Healthcare by 10.3% in the first quarter. Mount Lucas Management LP now owns 4,555 shares of the company’s stock worth $294,000 after buying an additional 427 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Molina Healthcare during the second quarter worth about $237,000. 87.59% of the stock is owned by institutional investors and hedge funds.
Shares of Molina Healthcare Inc. (NYSE:MOH) opened at 55.98 on Friday. The firm has a market cap of $3.18 billion, a PE ratio of 24.23 and a beta of 1.54. The company has a 50-day moving average of $56.50 and a 200 day moving average of $54.70. Molina Healthcare Inc. has a one year low of $44.50 and a one year high of $70.82.
Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, July 27th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.18. Molina Healthcare had a net margin of 0.83% and a return on equity of 9.60%. The firm earned $4.36 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, equities research analysts expect that Molina Healthcare Inc. will post $2.74 EPS for the current fiscal year.
A number of brokerages recently issued reports on MOH. Cantor Fitzgerald reissued a “hold” rating and issued a $55.00 price objective on shares of Molina Healthcare in a report on Friday, July 29th. Leerink Swann reissued a “buy” rating on shares of Molina Healthcare in a report on Thursday, July 28th. Credit Suisse Group AG reissued a “hold” rating on shares of Molina Healthcare in a report on Tuesday, June 28th. Goldman Sachs Group Inc. raised shares of Molina Healthcare from a “sell” rating to a “neutral” rating and upped their price objective for the company from $51.00 to $58.00 in a report on Monday, September 19th. Finally, Zacks Investment Research raised shares of Molina Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $62.80.
In other Molina Healthcare news, COO Terry Bayer sold 8,250 shares of Molina Healthcare stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $58.00, for a total value of $478,500.00. Following the completion of the sale, the chief operating officer now owns 176,834 shares in the company, valued at approximately $10,256,372. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronna Romney sold 750 shares of Molina Healthcare stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $55.00, for a total value of $41,250.00. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by corporate insiders.
Molina Healthcare Company Profile
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other. Its Health Plans segment consists of health plans in approximately 10 states and the Commonwealth of Puerto Rico, and its direct delivery business.
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