Kentucky Retirement Systems Insurance Trust Fund Makes New Investment in Molina Healthcare, Inc (NYSE:MOH)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Molina Healthcare, Inc (NYSE:MOH) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 1,648 shares of the company’s stock, valued at approximately $543,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MOH. Y Intercept Hong Kong Ltd increased its position in Molina Healthcare by 163.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 8,343 shares of the company’s stock worth $2,428,000 after purchasing an additional 5,175 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Molina Healthcare by 166.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 196,513 shares of the company’s stock worth $57,195,000 after acquiring an additional 122,674 shares during the period. Illinois Municipal Retirement Fund grew its holdings in shares of Molina Healthcare by 4.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 34,412 shares of the company’s stock worth $10,016,000 after acquiring an additional 1,421 shares during the period. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Molina Healthcare by 1.8% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 23,200 shares of the company’s stock worth $6,752,000 after acquiring an additional 400 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Molina Healthcare in the 4th quarter worth approximately $26,091,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

MOH has been the topic of a number of research reports. Mizuho upped their price target on Molina Healthcare from $376.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Sanford C. Bernstein initiated coverage on Molina Healthcare in a report on Tuesday, April 22nd. They issued an “outperform” rating and a $414.00 price target on the stock. Robert W. Baird restated a “neutral” rating and issued a $375.00 price target (up previously from $331.00) on shares of Molina Healthcare in a report on Tuesday, April 15th. Wells Fargo & Company upgraded Molina Healthcare from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $295.00 to $372.00 in a report on Wednesday, March 5th. Finally, Truist Financial upped their target price on Molina Healthcare from $340.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $364.21.

Molina Healthcare Trading Up 0.9%

Shares of Molina Healthcare stock opened at $293.87 on Wednesday. Molina Healthcare, Inc has a fifty-two week low of $262.32 and a fifty-two week high of $365.23. The firm has a market cap of $15.93 billion, a PE ratio of 14.19, a P/E/G ratio of 0.98 and a beta of 0.56. The business’s fifty day moving average is $309.44 and its two-hundred day moving average is $306.83. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 earnings per share for the quarter, topping analysts’ consensus estimates of $5.96 by $0.12. Molina Healthcare had a return on equity of 28.38% and a net margin of 2.81%. The company had revenue of $11.15 billion for the quarter, compared to analyst estimates of $10.86 billion. During the same quarter in the prior year, the company posted $5.73 EPS. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. Analysts anticipate that Molina Healthcare, Inc will post 24.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Richard M. Schapiro sold 669 shares of the company’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $320.50, for a total transaction of $214,414.50. Following the completion of the sale, the director now directly owns 11,244 shares in the company, valued at $3,603,702. This represents a 5.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Joseph M. Zubretsky sold 87,500 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total value of $28,005,250.00. Following the sale, the chief executive officer now owns 257,715 shares of the company’s stock, valued at approximately $82,484,262.90. The trade was a 25.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Molina Healthcare 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.