Allspring Global Investments Holdings LLC Decreases Position in Molina Healthcare, Inc. (NYSE:MOH)

Allspring Global Investments Holdings LLC cut its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 63.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,580 shares of the company's stock after selling 44,607 shares during the period. Allspring Global Investments Holdings LLC's holdings in Molina Healthcare were worth $8,814,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Molina Healthcare by 35.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,734 shares of the company's stock worth $1,123,000 after purchasing an additional 722 shares in the last quarter. First Trust Direct Indexing L.P. increased its stake in Molina Healthcare by 11.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 2,767 shares of the company's stock worth $1,137,000 after buying an additional 275 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of Molina Healthcare during the first quarter valued at approximately $244,000. JLB & Associates Inc. lifted its position in shares of Molina Healthcare by 48.6% in the first quarter. JLB & Associates Inc. now owns 9,003 shares of the company's stock valued at $3,699,000 after acquiring an additional 2,944 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Molina Healthcare by 3.2% in the first quarter. Van ECK Associates Corp now owns 11,614 shares of the company's stock worth $4,771,000 after acquiring an additional 365 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company's stock.

Molina Healthcare Trading Up 0.6 %

Molina Healthcare stock traded up $1.95 during midday trading on Friday, reaching $325.54. 1,579,538 shares of the stock traded hands, compared to its average volume of 525,746. The firm has a market cap of $19.08 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.58. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. The company has a 50-day simple moving average of $335.23 and a two-hundred day simple moving average of $329.39. Molina Healthcare, Inc. has a 12-month low of $272.69 and a 12-month high of $423.92.

Molina Healthcare (NYSE:MOH - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 EPS for the quarter, beating the consensus estimate of $5.96 by $0.05. The business had revenue of $10.34 billion during the quarter, compared to analyst estimates of $9.92 billion. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The business's revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm posted $5.05 earnings per share. Research analysts expect that Molina Healthcare, Inc. will post 23.5 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company raised their price objective on Molina Healthcare from $315.00 to $360.00 and gave the company an "equal weight" rating in a report on Monday, August 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $406.00 price target on shares of Molina Healthcare in a research note on Thursday. Robert W. Baird dropped their price objective on shares of Molina Healthcare from $405.00 to $331.00 and set an "outperform" rating for the company in a research note on Thursday. Barclays raised their target price on shares of Molina Healthcare from $359.00 to $372.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, TD Cowen dropped their price target on Molina Healthcare from $412.00 to $351.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. 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 assigned a strong buy rating to the company. According to MarketBeat, Molina Healthcare currently has a consensus rating of "Moderate Buy" and an average price target of $367.00.

Insider Buying and Selling at Molina Healthcare

In other news, Director Steven J. Orlando sold 1,000 shares of the company's stock in a transaction on 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total transaction of $339,210.00. Following the completion of the sale, the director now directly owns 18,025 shares in the company, valued at approximately $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

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.