KLP Kapitalforvaltning AS Acquires 1,100 Shares of Molina Healthcare, Inc $MOH

KLP Kapitalforvaltning AS raised its stake in shares of Molina Healthcare, Inc (NYSE:MOH) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,200 shares of the company’s stock after acquiring an additional 1,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Molina Healthcare were worth $6,315,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MOH. Price T Rowe Associates Inc. MD boosted its position in Molina Healthcare by 46.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,838,043 shares of the company’s stock valued at $1,264,214,000 after purchasing an additional 1,216,903 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Molina Healthcare by 8.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,487,896 shares of the company’s stock valued at $490,099,000 after purchasing an additional 117,796 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Molina Healthcare by 42.7% in the 1st quarter. AQR Capital Management LLC now owns 884,958 shares of the company’s stock valued at $288,125,000 after buying an additional 264,664 shares in the last quarter. Durable Capital Partners LP boosted its holdings in shares of Molina Healthcare by 13.1% in the 1st quarter. Durable Capital Partners LP now owns 541,605 shares of the company’s stock valued at $178,399,000 after buying an additional 62,899 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Molina Healthcare by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 465,672 shares of the company’s stock valued at $153,388,000 after buying an additional 7,021 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MOH shares. Robert W. Baird lowered their price target on shares of Molina Healthcare from $373.00 to $179.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. Mizuho lowered their target price on shares of Molina Healthcare from $400.00 to $330.00 and set an “outperform” rating for the company in a research note on Friday, July 11th. Wall Street Zen cut Molina Healthcare from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. JPMorgan Chase & Co. lowered their price objective on Molina Healthcare from $272.00 to $184.00 and set a “neutral” rating for the company in a research report on Tuesday, July 29th. Finally, UBS Group lowered their price objective on Molina Healthcare from $260.00 to $180.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Molina Healthcare has a consensus rating of “Hold” and an average price target of $228.18.

Insider Transactions at Molina Healthcare

In other news, COO James Woys bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $155.94 per share, with a total value of $1,559,400.00. Following the completion of the acquisition, the chief operating officer directly owned 74,331 shares of the company’s stock, valued at $11,591,176.14. This trade represents a 15.54% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronna Romney sold 700 shares of Molina Healthcare stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $153.74, for a total transaction of $107,618.00. Following the sale, the director owned 17,131 shares of the company’s stock, valued at approximately $2,633,719.94. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Molina Healthcare Trading Down 3.2%

NYSE:MOH opened at $193.94 on Friday. The firm has a fifty day simple moving average of $178.27 and a 200-day simple moving average of $249.33. Molina Healthcare, Inc has a 12 month low of $151.95 and a 12 month high of $359.97. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $10.51 billion, a P/E ratio of 9.56 and a beta of 0.55.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $5.48 EPS for the quarter, missing analysts’ consensus estimates of $5.50 by ($0.02). Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%.The firm had revenue of $11.43 billion for the quarter, compared to analyst estimates of $10.94 billion. During the same period in the prior year, the firm posted $5.86 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts anticipate that Molina Healthcare, Inc will post 24.4 earnings per share for the current year.

About Molina Healthcare

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.