New York State Teachers Retirement System cut its position in Molina Healthcare Inc. (NYSE:MOH) by 6.0% during the second quarter, Holdings Channel reports. The firm owned 61,027 shares of the company’s stock after selling 3,900 shares during the period. New York State Teachers Retirement System’s holdings in Molina Healthcare were worth $3,045,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Teachers Advisors Inc. raised its stake in shares of Molina Healthcare by 209.7% in the first quarter. Teachers Advisors Inc. now owns 245,142 shares of the company’s stock worth $15,809,000 after buying an additional 166,000 shares during the period. Renaissance Technologies LLC raised its stake in shares of Molina Healthcare by 15.2% in the first quarter. Renaissance Technologies LLC now owns 1,208,150 shares of the company’s stock worth $77,914,000 after buying an additional 159,572 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Molina Healthcare by 50.4% in the second quarter. BNP Paribas Arbitrage SA now owns 332,385 shares of the company’s stock worth $16,586,000 after buying an additional 111,396 shares during the period. Rafferty Asset Management LLC bought a new stake in shares of Molina Healthcare during the first quarter worth about $2,311,000. Finally, LPL Financial LLC bought a new stake in shares of Molina Healthcare during the first quarter worth about $2,001,000. Institutional investors and hedge funds own 87.59% of the company’s stock.
Molina Healthcare Inc. (NYSE:MOH) traded down 0.96% during midday trading on Wednesday, reaching $56.98. 548,452 shares of the company traded hands. The company has a 50-day moving average price of $56.41 and a 200-day moving average price of $54.72. Molina Healthcare Inc. has a 12-month low of $44.50 and a 12-month high of $70.82. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 24.67 and a beta of 1.54.
Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, July 27th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.18. The business earned $4.36 billion during the quarter, compared to analyst estimates of $4.35 billion. Molina Healthcare had a return on equity of 9.60% and a net margin of 0.83%. Molina Healthcare’s revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 earnings per share. On average, analysts predict that Molina Healthcare Inc. will post $2.74 earnings per share for the current fiscal year.
MOH has been the subject of a number of research analyst reports. Jefferies Group restated a “buy” rating and issued a $63.00 price target (down previously from $66.00) on shares of Molina Healthcare in a research note on Thursday, July 28th. Zacks Investment Research downgraded shares of Molina Healthcare from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. Leerink Swann reaffirmed an “outperform” rating and issued a $75.00 price objective on shares of Molina Healthcare in a report on Wednesday, June 15th. Goldman Sachs Group Inc. raised shares of Molina Healthcare from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $51.00 to $58.00 in a report on Monday, September 19th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating on shares of Molina Healthcare in a report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Molina Healthcare currently has a consensus rating of “Hold” and an average price target of $62.80.
In other Molina Healthcare news, Director Ronna Romney sold 750 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $55.00, for a total transaction of $41,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph W. Cpa White sold 6,676 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $58.48, for a total value of $390,412.48. The disclosure for this sale can be found here. Company insiders own 6.89% of the company’s stock.
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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