Summit Global Investments Trims Stake in Molina Healthcare, Inc. (NYSE:MOH)

Summit Global Investments reduced its stake in Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 95.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,319 shares of the company's stock after selling 25,369 shares during the period. Summit Global Investments' holdings in Molina Healthcare were worth $455,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Molina Healthcare during the second quarter valued at about $36,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Molina Healthcare during the second quarter worth $40,000. AM Squared Ltd acquired a new position in shares of Molina Healthcare in the 2nd quarter valued at about $59,000. UMB Bank n.a. boosted its position in Molina Healthcare by 96.2% in the 3rd quarter. UMB Bank n.a. now owns 206 shares of the company's stock worth $71,000 after purchasing an additional 101 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Molina Healthcare by 43.0% during the third quarter. Farther Finance Advisors LLC now owns 409 shares of the company's stock worth $141,000 after buying an additional 123 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Molina Healthcare Stock Performance

MOH traded down $0.69 during trading on Monday, hitting $328.96. 332,401 shares of the stock were exchanged, compared to its average volume of 533,988. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.53. Molina Healthcare, Inc. has a 1-year low of $272.69 and a 1-year high of $423.92. The stock has a fifty day moving average price of $330.97 and a two-hundred day moving average price of $326.68. The firm has a market capitalization of $18.82 billion, a P/E ratio of 16.74, a PEG ratio of 1.14 and a beta of 0.59.

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, topping analysts' consensus estimates of $5.96 by $0.05. Molina Healthcare had a return on equity of 27.88% and a net margin of 2.92%. The firm had revenue of $10.34 billion for the quarter, compared to analyst estimates of $9.92 billion. During the same quarter last year, the company posted $5.05 earnings per share. The business's revenue was up 21.0% on a year-over-year basis. As a group, sell-side analysts predict that Molina Healthcare, Inc. will post 23.44 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on MOH. Deutsche Bank Aktiengesellschaft cut their price target on shares of Molina Healthcare from $354.00 to $353.00 and set a "hold" rating for the company in a report on Monday, July 29th. Truist Financial lowered their price target on Molina Healthcare from $440.00 to $400.00 and set a "buy" rating for the company in a report on Monday, July 15th. Robert W. Baird dropped their target price on shares of Molina Healthcare from $405.00 to $331.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Stephens reiterated an "equal weight" rating and set a $320.00 price target on shares of Molina Healthcare in a research note on Thursday, July 25th. Finally, Wells Fargo & Company upped their price objective on Molina Healthcare from $360.00 to $362.00 and gave the stock an "equal weight" rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Molina Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $367.17.

Insider Activity at Molina Healthcare

In other news, CAO Maurice Hebert sold 393 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

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.