Bank of New York Mellon Corp Sells 21,860 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Bank of New York Mellon Corp reduced its position in Molina Healthcare, Inc. (NYSE:MOH) by 5.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 388,081 shares of the company’s stock after selling 21,860 shares during the period. Bank of New York Mellon Corp owned 0.66% of Molina Healthcare worth $115,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. McIlrath & Eck LLC acquired a new stake in shares of Molina Healthcare in the 4th quarter valued at $34,000. Principal Securities Inc. acquired a new stake in shares of Molina Healthcare in the 4th quarter valued at $42,000. Access Investment Management LLC acquired a new stake in shares of Molina Healthcare in the 4th quarter valued at $99,000. Mather Group LLC. acquired a new stake in shares of Molina Healthcare in the 1st quarter valued at $123,000. Finally, Lindbrook Capital LLC increased its stake in shares of Molina Healthcare by 47.0% in the 1st quarter. Lindbrook Capital LLC now owns 322 shares of the company’s stock valued at $132,000 after buying an additional 103 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $346.52, for a total value of $136,182.36. Following the sale, the chief accounting officer now directly owns 9,473 shares in the company, valued at $3,282,583.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Maurice Hebert sold 393 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the sale, the chief accounting officer now owns 9,473 shares in the company, valued at $3,282,583.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the sale, the director now owns 18,025 shares in the company, valued at approximately $6,114,260.25. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Jefferies Financial Group lowered their target price on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a research note on Monday, August 19th. Robert W. Baird began coverage on Molina Healthcare in a research note on Thursday, May 30th. They set an “outperform” rating and a $405.00 price objective for the company. Finally, TD Cowen decreased their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat, Molina Healthcare currently has an average rating of “Moderate Buy” and an average price target of $378.00.

Molina Healthcare Stock Performance

Shares of Molina Healthcare stock opened at $349.81 on Wednesday. The firm has a market cap of $20.50 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 1.20 and a beta of 0.58. The stock’s 50-day moving average is $318.16 and its 200-day moving average is $349.28. Molina Healthcare, Inc. has a one year low of $282.96 and a one year high of $423.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. The company had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.65 earnings per share. Equities analysts predict that Molina Healthcare, Inc. will post 23.5 earnings per share 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.