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

Allspring Global Investments Holdings LLC boosted its stake in Molina Healthcare, Inc. (NYSE:MOH) by 51.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,706 shares of the company’s stock after acquiring an additional 32,380 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.16% of Molina Healthcare worth $28,831,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Coppell Advisory Solutions Corp. acquired a new position in shares of Molina Healthcare in the 4th quarter valued at approximately $34,000. Brown Brothers Harriman & Co. acquired a new stake in Molina Healthcare in the first quarter valued at $40,000. EverSource Wealth Advisors LLC raised its stake in shares of Molina Healthcare by 2,950.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 122 shares of the company’s stock valued at $33,000 after purchasing an additional 118 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Molina Healthcare by 85.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 132 shares of the company’s stock valued at $44,000 after purchasing an additional 61 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Molina Healthcare in the 1st quarter valued at about $59,000. Institutional investors and hedge funds own 98.11% of the company’s stock.

Molina Healthcare Stock Up 1.4 %

Shares of MOH stock opened at $336.10 on Friday. The business’s fifty day moving average is $330.31 and its 200-day moving average is $307.16. The stock has a market cap of $19.59 billion, a PE ratio of 20.95, a price-to-earnings-growth ratio of 1.13 and a beta of 0.63. Molina Healthcare, Inc. has a 1 year low of $256.19 and a 1 year high of $364.91. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.52 and a current ratio of 1.47.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, October 25th. The company reported $5.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.87 by $0.18. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.24 billion. Molina Healthcare had a return on equity of 34.85% and a net margin of 2.80%. Molina Healthcare’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.36 earnings per share. Equities analysts expect that Molina Healthcare, Inc. will post 20.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Maurice Hebert sold 692 shares of Molina Healthcare stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $328.15, for a total value of $227,079.80. Following the transaction, the chief accounting officer now directly owns 8,528 shares in the company, valued at approximately $2,798,463.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Barbara L. Brasier sold 1,500 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $303.89, for a total value of $455,835.00. Following the completion of the sale, the director now owns 3,232 shares of the company’s stock, valued at $982,172.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Maurice Hebert sold 692 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $328.15, for a total value of $227,079.80. Following the sale, the chief accounting officer now owns 8,528 shares of the company’s stock, valued at $2,798,463.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,938 shares of company stock worth $5,474,336. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $365.00 price target on shares of Molina Healthcare in a research report on Friday, July 14th. Bank of America increased their price objective on shares of Molina Healthcare from $340.00 to $350.00 in a research note on Thursday, July 27th. Stephens reaffirmed an “equal weight” rating and issued a $350.00 price objective on shares of Molina Healthcare in a report on Tuesday, October 3rd. JPMorgan Chase & Co. dropped their price target on shares of Molina Healthcare from $348.00 to $341.00 in a research note on Friday, July 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $359.00 price target on shares of Molina Healthcare in a research note on Thursday, September 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Molina Healthcare has an average rating of “Moderate Buy” and an average price target of $349.38.

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.