Raymond James Financial Inc. Buys Shares of 36,848 Molina Healthcare, Inc. (NYSE:MOH)

Raymond James Financial Inc. purchased a new position in Molina Healthcare, Inc. (NYSE:MOH - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 36,848 shares of the company's stock, valued at approximately $10,725,000. Raymond James Financial Inc. owned 0.06% of Molina Healthcare at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of MOH. True Wealth Design LLC raised its stake in shares of Molina Healthcare by 2,500.0% in the third quarter. True Wealth Design LLC now owns 104 shares of the company's stock valued at $36,000 after buying an additional 100 shares during the period. Versant Capital Management Inc increased its holdings in Molina Healthcare by 83.1% in the 4th quarter. Versant Capital Management Inc now owns 163 shares of the company's stock worth $47,000 after acquiring an additional 74 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new stake in Molina Healthcare in the 4th quarter valued at about $52,000. Financial Perspectives Inc purchased a new stake in Molina Healthcare during the fourth quarter valued at about $59,000. Finally, Venturi Wealth Management LLC boosted its position in Molina Healthcare by 482.4% during the fourth quarter. Venturi Wealth Management LLC now owns 297 shares of the company's stock worth $86,000 after purchasing an additional 246 shares during the period. Hedge funds and other institutional investors own 98.50% of the company's stock.

Insider Activity

In related news, Director Steven J. Orlando sold 1,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.33, for a total value of $301,330.00. Following the sale, the director now directly owns 17,375 shares of the company's stock, valued at $5,235,608.75. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.10% of the company's stock.

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Molina Healthcare Price Performance

MOH stock traded up $3.12 during midday trading on Monday, reaching $313.05. The company had a trading volume of 448,157 shares, compared to its average volume of 756,112. The firm has a 50-day moving average price of $299.99 and a 200-day moving average price of $309.21. The company has a market capitalization of $17.12 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.06 and a beta of 0.56. Molina Healthcare, Inc. has a 1 year low of $262.32 and a 1 year high of $423.92. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.62 and a quick ratio of 1.62.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) 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%. On average, research analysts anticipate that Molina Healthcare, Inc. will post 24.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MOH shares. StockNews.com lowered shares of Molina Healthcare from a "buy" rating to a "hold" rating in a research report on Monday, March 10th. Barclays lowered their target price on shares of Molina Healthcare from $372.00 to $339.00 and set an "equal weight" rating on the stock in a report on Friday, February 7th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $350.00 price target (down from $378.00) on shares of Molina Healthcare in a report on Tuesday, December 17th. UBS Group decreased their price objective 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. Finally, Truist Financial cut their target price on Molina Healthcare from $370.00 to $340.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $355.69.

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.