Magnetar Financial LLC Purchases Shares of 17,213 Molina Healthcare, Inc. (NYSE:MOH)

Magnetar Financial LLC purchased a new stake in Molina Healthcare, Inc. (NYSE:MOH - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 17,213 shares of the company's stock, valued at approximately $5,010,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MOH. True Wealth Design LLC increased its holdings 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 purchasing an additional 100 shares during the period. Versant Capital Management Inc increased its stake in Molina Healthcare by 83.1% in the 4th quarter. Versant Capital Management Inc now owns 163 shares of the company's stock valued at $47,000 after buying an additional 74 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in Molina Healthcare during the 4th quarter worth $52,000. EverSource Wealth Advisors LLC raised its position in Molina Healthcare by 81.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 196 shares of the company's stock worth $57,000 after buying an additional 88 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its stake in shares of Molina Healthcare by 895.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 199 shares of the company's stock worth $58,000 after acquiring an additional 179 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Molina Healthcare

In related news, Director Steven J. Orlando sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $301.33, for a total transaction of $301,330.00. Following the sale, the director now owns 17,375 shares in the company, valued at approximately $5,235,608.75. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company's stock.

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Molina Healthcare Price Performance

MOH traded up $3.12 during midday trading on Monday, reaching $313.05. 448,159 shares of the company's stock were exchanged, compared to its average volume of 612,774. Molina Healthcare, Inc. has a 1-year low of $262.32 and a 1-year high of $423.92. The stock has a market capitalization of $17.12 billion, a PE ratio of 15.32, a P/E/G ratio of 1.06 and a beta of 0.56. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.62 and a quick ratio of 1.62. The business's 50-day moving average price is $300.36 and its 200 day moving average price is $309.09.

Molina Healthcare (NYSE:MOH - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.74 by ($0.69). Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. As a group, equities analysts anticipate that Molina Healthcare, Inc. will post 24.4 EPS for the current fiscal year.

Analysts Set New Price Targets

MOH has been the subject of several analyst reports. Wells Fargo & Company raised shares of Molina Healthcare from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $295.00 to $372.00 in a report on Wednesday, March 5th. Truist Financial reduced their price target on Molina Healthcare from $370.00 to $340.00 and set a "buy" rating for the company in a report on Wednesday, February 19th. StockNews.com downgraded Molina Healthcare from a "buy" rating to a "hold" rating in a research note on Monday, March 10th. Barclays cut their price objective on Molina Healthcare from $372.00 to $339.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. Finally, Stephens restated an "equal weight" rating and set a $345.00 target price on shares of Molina Healthcare in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $355.69.

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.