Magnetar Financial LLC Takes $5.01 Million Position in Molina Healthcare, Inc. (NYSE:MOH)

Magnetar Financial LLC acquired a new position in Molina Healthcare, Inc. (NYSE:MOH) during the fourth quarter, Holdings Channel reports. The firm acquired 17,213 shares of the company’s stock, valued at approximately $5,010,000.

Other large investors also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in Molina Healthcare by 2,500.0% in the 3rd quarter. True Wealth Design LLC now owns 104 shares of the company’s stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Molina Healthcare by 83.1% during the fourth quarter. Versant Capital Management Inc now owns 163 shares of the company’s stock worth $47,000 after purchasing an additional 74 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Molina Healthcare in the fourth quarter worth approximately $52,000. EverSource Wealth Advisors LLC raised its stake in Molina Healthcare by 81.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 196 shares of the company’s stock valued at $57,000 after purchasing an additional 88 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its stake in Molina Healthcare by 895.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 199 shares of the company’s stock worth $58,000 after buying an additional 179 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

Insider Buying and Selling

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.33, for a total value of $301,330.00. Following the completion of the transaction, the director now directly owns 17,375 shares in the company, valued at approximately $5,235,608.75. This represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stephens restated an “equal weight” rating and set a $345.00 price objective on shares of Molina Healthcare in a research report on Thursday, February 6th. Wells Fargo & Company upgraded Molina Healthcare from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $295.00 to $372.00 in a report on Wednesday, March 5th. StockNews.com cut Molina Healthcare from a “buy” rating to a “hold” rating in a report on Monday, March 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $350.00 target price (down previously from $378.00) on shares of Molina Healthcare in a research note on Tuesday, December 17th. Finally, Truist Financial decreased their price target on shares of Molina Healthcare from $370.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Molina Healthcare currently has an average rating of “Hold” and a consensus target price of $355.69.

Molina Healthcare Stock Performance

Shares of NYSE:MOH opened at $314.66 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $298.86 and a 200-day moving average price of $309.90. The company has a market cap of $17.46 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. Molina Healthcare, Inc. has a 12 month low of $262.32 and a 12 month high of $423.92.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, February 5th. The company reported $5.05 EPS for the quarter, missing analysts’ consensus estimates of $5.74 by ($0.69). Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. As a group, equities analysts anticipate that Molina Healthcare, Inc. will post 24.4 EPS for the current year.

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.