Mackenzie Financial Corp Boosts Stake in Molina Healthcare, Inc. (NYSE:MOH)

Mackenzie Financial Corp lifted its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 80.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,719 shares of the company’s stock after buying an additional 5,216 shares during the period. Mackenzie Financial Corp’s holdings in Molina Healthcare were worth $4,234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG increased its position in Molina Healthcare by 1.5% during the third quarter. Deutsche Bank AG now owns 258,441 shares of the company’s stock worth $84,740,000 after purchasing an additional 3,754 shares during the last quarter. Invesco Ltd. increased its position in Molina Healthcare by 10.4% during the third quarter. Invesco Ltd. now owns 1,190,161 shares of the company’s stock worth $390,242,000 after purchasing an additional 112,243 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Molina Healthcare by 4,019.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 103,185 shares of the company’s stock worth $37,282,000 after purchasing an additional 100,680 shares during the last quarter. DNB Asset Management AS increased its position in Molina Healthcare by 20.7% during the fourth quarter. DNB Asset Management AS now owns 42,852 shares of the company’s stock worth $15,483,000 after purchasing an additional 7,346 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Molina Healthcare by 0.5% during the third quarter. Principal Financial Group Inc. now owns 74,056 shares of the company’s stock worth $24,282,000 after purchasing an additional 376 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Richard M. Schapiro sold 711 shares of Molina Healthcare stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $384.06, for a total value of $273,066.66. Following the completion of the transaction, the director now owns 12,207 shares in the company, valued at $4,688,220.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard M. Schapiro sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total transaction of $401,050.00. Following the completion of the sale, the director now owns 11,207 shares in the company, valued at approximately $4,494,567.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard M. Schapiro sold 711 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $384.06, for a total transaction of $273,066.66. Following the sale, the director now owns 12,207 shares of the company’s stock, valued at approximately $4,688,220.42. The disclosure for this sale can be found here. Insiders sold 16,711 shares of company stock worth $6,472,517 over the last 90 days. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, April 4th. Barclays assumed coverage on shares of Molina Healthcare in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $437.00 price target for the company. Truist Financial lifted their price target on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Finally, Bank of America cut shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price target for the company. in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $393.09.

Molina Healthcare Trading Up 1.8 %

Shares of MOH stock opened at $367.52 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.54 and a current ratio of 1.54. The stock has a market capitalization of $21.53 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.03 and a beta of 0.47. The company has a 50 day moving average price of $394.33 and a 200 day moving average price of $371.60. Molina Healthcare, Inc. has a fifty-two week low of $266.35 and a fifty-two week high of $423.92.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The company had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the previous year, the firm earned $4.10 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts predict that Molina Healthcare, Inc. will post 23.62 EPS for the current fiscal year.

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.