abrdn plc Decreases Stock Position in Molina Healthcare, Inc. (NYSE:MOH)

abrdn plc lessened its position in Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,261 shares of the company's stock after selling 3,417 shares during the period. abrdn plc owned 0.10% of Molina Healthcare worth $21,098,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Molina Healthcare by 76.2% in the third quarter. CWM LLC now owns 4,001 shares of the company's stock valued at $1,379,000 after buying an additional 1,730 shares during the period. Cetera Investment Advisers increased its position in Molina Healthcare by 516.4% in the 1st quarter. Cetera Investment Advisers now owns 10,238 shares of the company's stock valued at $4,206,000 after acquiring an additional 8,577 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Molina Healthcare by 69.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,809 shares of the company's stock valued at $4,851,000 after acquiring an additional 4,840 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Molina Healthcare by 35.6% during the first quarter. BNP Paribas Financial Markets now owns 56,835 shares of the company's stock worth $23,350,000 after purchasing an additional 14,920 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Molina Healthcare by 28.4% in the first quarter. ProShare Advisors LLC now owns 10,352 shares of the company's stock worth $4,253,000 after purchasing an additional 2,288 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

Molina Healthcare Stock Up 1.7 %

Shares of Molina Healthcare stock traded up $5.53 during trading hours on Friday, reaching $326.75. The company's stock had a trading volume of 600,556 shares, compared to its average volume of 528,871. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.54. The stock's fifty day simple moving average is $333.18 and its two-hundred day simple moving average is $328.50. The company has a market capitalization of $18.69 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.12 and a beta of 0.58. Molina Healthcare, Inc. has a one year low of $272.69 and a one year high of $423.92.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $6.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.96 by $0.05. The business had revenue of $10.34 billion during the quarter, compared to the consensus estimate of $9.92 billion. Molina Healthcare had a return on equity of 27.88% and a net margin of 2.92%. The company's quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.05 EPS. On average, research analysts forecast that Molina Healthcare, Inc. will post 23.44 earnings per share for the current year.

Wall Street Analyst Weigh In

MOH has been the topic of several recent research reports. StockNews.com raised Molina Healthcare from a "hold" rating to a "buy" rating in a report on Friday, October 18th. Stephens reissued an "equal weight" rating and set a $320.00 target price on shares of Molina Healthcare in a research report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price target on shares of Molina Healthcare from $420.00 to $395.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on shares of Molina Healthcare from $315.00 to $360.00 and gave the stock an "equal weight" rating in a research report on Monday, August 5th. Finally, Jefferies Financial Group dropped their target price on shares of Molina Healthcare from $354.00 to $297.00 and set a "hold" rating on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $367.00.

Insiders Place Their Bets

In related news, CAO Maurice Hebert sold 393 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the sale, the chief accounting officer now directly owns 9,473 shares of the company's stock, valued at approximately $3,282,583.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company's stock.

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.