Alliancebernstein L.P. Raises Stock Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Alliancebernstein L.P. lifted its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 28.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,445 shares of the company’s stock after acquiring an additional 20,300 shares during the period. Alliancebernstein L.P. owned 0.16% of Molina Healthcare worth $26,615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board boosted its stake in shares of Molina Healthcare by 13.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,527 shares of the company’s stock worth $871,000 after purchasing an additional 300 shares during the last quarter. Tributary Capital Management LLC raised its position in shares of Molina Healthcare by 76.1% in the fourth quarter. Tributary Capital Management LLC now owns 4,190 shares of the company’s stock valued at $1,219,000 after buying an additional 1,811 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Molina Healthcare during the fourth quarter valued at approximately $544,000. Smartleaf Asset Management LLC boosted its position in Molina Healthcare by 123.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 347 shares of the company’s stock worth $100,000 after acquiring an additional 192 shares during the last quarter. Finally, SYM FINANCIAL Corp purchased a new stake in Molina Healthcare in the 4th quarter worth approximately $249,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Stock Down 1.7 %

Shares of Molina Healthcare stock opened at $347.26 on Monday. Molina Healthcare, Inc. has a twelve month low of $262.32 and a twelve month high of $383.58. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.06 and a beta of 0.70. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average price of $306.76 and a 200 day moving average price of $308.09.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, February 5th. The company reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. Equities research analysts forecast that Molina Healthcare, Inc. will post 24.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.33, for a total value of $301,330.00. Following the completion of the transaction, the director now directly owns 17,375 shares of the company’s stock, valued at $5,235,608.75. This represents a 5.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MOH. Wells Fargo & Company raised Molina Healthcare from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $295.00 to $372.00 in a research note on Wednesday, March 5th. UBS Group decreased their price target on Molina Healthcare from $374.00 to $325.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Mizuho dropped their price objective on shares of Molina Healthcare from $382.00 to $376.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $350.00 target price (down from $378.00) on shares of Molina Healthcare in a research report on Tuesday, December 17th. Finally, Truist Financial dropped their price target on shares of Molina Healthcare from $370.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $348.75.

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.