Sivik Global Healthcare LLC increased its position in shares of Molina Healthcare Inc (NYSE:MOH) by 312.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,500 shares of the company’s stock after acquiring an additional 62,500 shares during the quarter. Molina Healthcare makes up about 2.1% of Sivik Global Healthcare LLC’s portfolio, making the stock its 17th biggest holding. Sivik Global Healthcare LLC owned approximately 0.14% of Molina Healthcare worth $5,707,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in MOH. Meadow Creek Investment Management LLC boosted its position in shares of Molina Healthcare by 13.2% during the 1st quarter. Meadow Creek Investment Management LLC now owns 2,408 shares of the company’s stock valued at $110,000 after acquiring an additional 280 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of Molina Healthcare by 40.9% during the 2nd quarter. LS Investment Advisors LLC now owns 1,829 shares of the company’s stock valued at $127,000 after acquiring an additional 531 shares during the last quarter. Glen Harbor Capital Management LLC boosted its position in shares of Molina Healthcare by 13.2% during the 1st quarter. Glen Harbor Capital Management LLC now owns 2,924 shares of the company’s stock valued at $133,000 after acquiring an additional 340 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Molina Healthcare during the 2nd quarter valued at about $136,000. Finally, Riverhead Capital Management LLC boosted its position in shares of Molina Healthcare by 64.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,463 shares of the company’s stock valued at $170,000 after acquiring an additional 963 shares during the last quarter. 96.04% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts have recently weighed in on the stock. Deutsche Bank AG reissued a “hold” rating and set a $72.00 price target on shares of Molina Healthcare in a research report on Wednesday, August 9th. TheStreet cut shares of Molina Healthcare from a “b” rating to a “c” rating in a research report on Monday, August 7th. BidaskClub cut shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Morgan Stanley raised shares of Molina Healthcare from an “underweight” rating to an “overweight” rating and upped their target price for the company from $65.00 to $68.00 in a research report on Thursday, August 17th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Molina Healthcare in a research report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $62.39.
In other news, insider William Dentino sold 66,000 shares of Molina Healthcare stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $68.68, for a total value of $4,532,880.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Terry Bayer sold 415 shares of Molina Healthcare stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $69.24, for a total value of $28,734.60. Following the completion of the transaction, the chief operating officer now directly owns 80,672 shares in the company, valued at $5,585,729.28. The disclosure for this sale can be found here. Insiders sold a total of 314,323 shares of company stock worth $20,373,701 over the last ninety days. Corporate insiders own 6.20% of the company’s stock.
Shares of Molina Healthcare Inc (MOH) traded up 0.73% during mid-day trading on Friday, reaching $66.62. 849,946 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $62.47 and a 200 day moving average price of $60.18. The stock’s market cap is $3.81 billion. Molina Healthcare Inc has a 52 week low of $42.56 and a 52 week high of $72.79.
Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.87). The firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.88 billion. Molina Healthcare had a negative net margin of 1.07% and a positive return on equity of 16.10%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 earnings per share. Equities research analysts predict that Molina Healthcare Inc will post ($2.96) EPS for the current year.
About Molina Healthcare
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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