Molina Healthcare, Inc. (NYSE:MOH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 63.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,580 shares of the company’s stock after selling 44,607 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Molina Healthcare were worth $8,814,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in Molina Healthcare in the 2nd quarter worth $36,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Molina Healthcare during the 2nd quarter worth about $40,000. AM Squared Ltd acquired a new position in shares of Molina Healthcare during the 2nd quarter worth about $59,000. UMB Bank n.a. boosted its holdings in Molina Healthcare by 96.2% in the 3rd quarter. UMB Bank n.a. now owns 206 shares of the company’s stock worth $71,000 after buying an additional 101 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Molina Healthcare in the first quarter worth approximately $151,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Molina Healthcare Stock Performance

NYSE:MOH opened at $325.54 on Friday. Molina Healthcare, Inc. has a 52 week low of $272.69 and a 52 week high of $423.92. The company has a fifty day simple moving average of $335.23 and a two-hundred day simple moving average of $329.72. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. The company has a market cap of $19.08 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 0.99 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, October 23rd. The company reported $6.01 EPS for the quarter, topping the consensus estimate of $5.96 by $0.05. The firm had revenue of $10.34 billion during the quarter, compared to analysts’ expectations of $9.92 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. Molina Healthcare’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm posted $5.05 EPS. As a group, equities analysts anticipate that Molina Healthcare, Inc. will post 23.5 earnings per share for the current fiscal year.

Insider Transactions at Molina Healthcare

In related news, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the transaction, the chief accounting officer now owns 9,473 shares in the company, valued at $3,282,583.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total transaction of $339,210.00. Following the sale, the director now owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total value of $136,182.36. Following the sale, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MOH shares. Truist Financial dropped their price target on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, July 15th. TD Cowen dropped their price objective on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Stephens reaffirmed an “equal weight” rating and set a $320.00 target price on shares of Molina Healthcare in a research note on Thursday, July 25th. Robert W. Baird cut their price target on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 price objective on shares of Molina Healthcare in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $367.00.

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.