Summit Global Investments Has $17.57 Million Stake in Molina Healthcare, Inc. (NYSE:MOH)

Summit Global Investments trimmed its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 17.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,628 shares of the company’s stock after selling 10,536 shares during the period. Molina Healthcare comprises about 1.2% of Summit Global Investments’ portfolio, making the stock its 17th largest position. Summit Global Investments’ holdings in Molina Healthcare were worth $17,570,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MOH. AE Wealth Management LLC raised its holdings in shares of Molina Healthcare by 33.5% during the third quarter. AE Wealth Management LLC now owns 1,159 shares of the company’s stock worth $380,000 after acquiring an additional 291 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Molina Healthcare by 1.1% during the third quarter. Commonwealth Equity Services LLC now owns 17,879 shares of the company’s stock worth $5,862,000 after acquiring an additional 192 shares during the period. SVB Wealth LLC acquired a new stake in shares of Molina Healthcare during the third quarter worth $204,000. Xponance Inc. raised its holdings in shares of Molina Healthcare by 19.3% during the third quarter. Xponance Inc. now owns 21,326 shares of the company’s stock worth $6,993,000 after acquiring an additional 3,456 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Molina Healthcare by 59.4% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 1,908 shares of the company’s stock worth $626,000 after acquiring an additional 711 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Molina Healthcare

In other news, Director Richard M. Schapiro sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total transaction of $401,050.00. Following the completion of the sale, the director now owns 11,207 shares in the company, valued at approximately $4,494,567.35. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of Molina Healthcare stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $384.06, for a total value of $273,066.66. Following the completion of the sale, the director now owns 12,207 shares in the company, valued at approximately $4,688,220.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Schapiro sold 1,000 shares of Molina Healthcare stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total transaction of $401,050.00. Following the completion of the sale, the director now owns 11,207 shares of the company’s stock, valued at approximately $4,494,567.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,711 shares of company stock worth $6,472,517. 1.10% of the stock is owned by insiders.

Molina Healthcare Stock Performance

Shares of MOH traded up $1.37 during midday trading on Thursday, reaching $340.24. The stock had a trading volume of 246,449 shares, compared to its average volume of 400,960. The firm has a 50 day simple moving average of $386.79 and a 200-day simple moving average of $372.10. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The firm has a market cap of $19.94 billion, a PE ratio of 18.39, a P/E/G ratio of 1.05 and a beta of 0.55. Molina Healthcare, Inc. has a one year low of $266.35 and a one year high of $423.92.

Molina Healthcare (NYSE:MOH) last posted its earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.46 by $0.27. The company had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.45 billion. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. Molina Healthcare’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the company posted $5.81 EPS. As a group, sell-side analysts anticipate that Molina Healthcare, Inc. will post 23.59 EPS for the current year.

Analyst Upgrades and Downgrades

MOH has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Molina Healthcare from $437.00 to $430.00 and set an “equal weight” rating for the company in a research report on Thursday, April 25th. StockNews.com downgraded shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 8th. Bank of America downgraded shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 target price for the company. in a research report on Thursday, March 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research report on Thursday, April 4th. Finally, Truist Financial raised their target price on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Molina Healthcare presently has a consensus rating of “Hold” and a consensus target price of $398.55.

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.