Argent Capital Management LLC Buys 423 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Argent Capital Management LLC lifted its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 4.9% in the third quarter, HoldingsChannel reports. The fund owned 9,003 shares of the company’s stock after acquiring an additional 423 shares during the period. Argent Capital Management LLC’s holdings in Molina Healthcare were worth $3,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atlas Capital Advisors LLC increased its stake in shares of Molina Healthcare by 663.0% in the first quarter. Atlas Capital Advisors LLC now owns 412 shares of the company’s stock worth $169,000 after purchasing an additional 358 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Molina Healthcare by 35.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 2,734 shares of the company’s stock worth $1,123,000 after buying an additional 722 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Molina Healthcare by 139.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 64,496 shares of the company’s stock valued at $26,497,000 after acquiring an additional 37,509 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of Molina Healthcare by 11.0% in the first quarter. First Trust Direct Indexing L.P. now owns 2,767 shares of the company’s stock valued at $1,137,000 after acquiring an additional 275 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in shares of Molina Healthcare in the first quarter worth about $244,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Molina Healthcare Trading Up 22.5 %

Shares of Molina Healthcare stock traded up $61.90 on Thursday, reaching $336.90. The company had a trading volume of 1,071,368 shares, compared to its average volume of 512,179. The firm’s 50-day moving average price is $336.17 and its two-hundred day moving average price is $330.51. Molina Healthcare, Inc. has a 1 year low of $272.69 and a 1 year high of $423.92. The firm has a market cap of $19.74 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.15 and a beta of 0.58. 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 announced its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The business had revenue of $9.88 billion for the quarter, compared to the consensus estimate of $9.75 billion. During the same quarter in the prior year, the firm posted $5.65 earnings per share. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, research analysts predict that Molina Healthcare, Inc. will post 23.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. StockNews.com raised Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Robert W. Baird lowered their target price on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research note on Monday, July 29th. TD Cowen decreased their price target on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group cut their price objective on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $371.83.

Insider Buying and Selling

In other news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction that occurred on 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 directly owns 18,025 shares in the company, valued at approximately $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the sale, the chief accounting officer now owns 9,473 shares in the company, valued at approximately $3,282,583.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the sale, the director now owns 18,025 shares of the company’s stock, valued at $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

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.