JPMorgan Chase & Co. Increases Stake in Molina Healthcare, Inc. (NYSE:MOH)

JPMorgan Chase & Co. increased its holdings in shares of Molina Healthcare, Inc. (NYSE:MOHGet Rating) by 44.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 287,730 shares of the company’s stock after buying an additional 88,332 shares during the period. JPMorgan Chase & Co. owned about 0.50% of Molina Healthcare worth $80,452,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MOH. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Molina Healthcare by 3.8% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 10,090 shares of the company’s stock worth $2,821,000 after acquiring an additional 371 shares in the last quarter. Bank of America Corp DE grew its holdings in Molina Healthcare by 17.2% during the 1st quarter. Bank of America Corp DE now owns 333,406 shares of the company’s stock worth $111,220,000 after acquiring an additional 48,873 shares in the last quarter. Swiss National Bank grew its holdings in Molina Healthcare by 14.0% during the 1st quarter. Swiss National Bank now owns 253,016 shares of the company’s stock worth $84,404,000 after acquiring an additional 31,000 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in Molina Healthcare by 1.3% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 32,434 shares of the company’s stock worth $9,069,000 after acquiring an additional 429 shares in the last quarter. Finally, KBC Group NV grew its holdings in Molina Healthcare by 7.5% during the 1st quarter. KBC Group NV now owns 6,269 shares of the company’s stock worth $2,091,000 after acquiring an additional 439 shares in the last quarter. 95.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on MOH shares. Wells Fargo & Company boosted their price target on shares of Molina Healthcare from $307.00 to $345.00 and gave the stock an “underweight” rating in a report on Friday, August 26th. Credit Suisse Group upped their target price on shares of Molina Healthcare from $350.00 to $410.00 and gave the company an “outperform” rating in a report on Thursday, October 27th. Cowen upped their target price on shares of Molina Healthcare from $371.00 to $380.00 in a report on Monday, November 7th. Truist Financial upped their target price on shares of Molina Healthcare from $390.00 to $420.00 and gave the company a “buy” rating in a report on Friday, October 28th. Finally, StockNews.com began coverage on shares of Molina Healthcare in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Molina Healthcare presently has an average rating of “Moderate Buy” and an average price target of $365.71.

Molina Healthcare Stock Up 1.3 %

Shares of NYSE:MOH opened at $320.58 on Thursday. The stock has a market cap of $18.72 billion, a P/E ratio of 22.37, a P/E/G ratio of 0.96 and a beta of 0.81. The firm has a fifty day moving average price of $340.18 and a 200 day moving average price of $317.09. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.45 and a quick ratio of 1.45. Molina Healthcare, Inc. has a 1-year low of $249.78 and a 1-year high of $374.00.

Insider Buying and Selling

In related news, Director Daniel Cooperman sold 2,500 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $346.00, for a total transaction of $865,000.00. Following the completion of the sale, the director now owns 4,610 shares in the company, valued at approximately $1,595,060. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Molina Healthcare news, Director Daniel Cooperman sold 2,500 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $346.00, for a total transaction of $865,000.00. Following the completion of the transaction, the director now owns 4,610 shares in the company, valued at approximately $1,595,060. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeff D. Barlow sold 14,480 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $350.00, for a total transaction of $5,068,000.00. Following the transaction, the insider now owns 66,130 shares of the company’s stock, valued at approximately $23,145,500. The disclosure for this sale can be found here. Insiders sold a total of 215,780 shares of company stock worth $73,392,237 in the last 90 days. Company insiders own 1.60% of the company’s stock.

About Molina Healthcare

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Molina Healthcare, Inc provides managed health care 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. As of December 31, 2021, the company served the company served approximately 5.2 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs in 18 states.

Further Reading

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Institutional Ownership by Quarter for Molina Healthcare (NYSE:MOH)

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