8,943 Shares in Molina Healthcare, Inc. (MOH) Purchased by Verition Fund Management LLC

Verition Fund Management LLC purchased a new stake in Molina Healthcare, Inc. (NYSE:MOH) in the second quarter, HoldingsChannel.com reports. The firm purchased 8,943 shares of the company’s stock, valued at approximately $876,000.

Other institutional investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in shares of Molina Healthcare by 2,264.2% in the second quarter. Advisors Asset Management Inc. now owns 93,813 shares of the company’s stock worth $118,000 after purchasing an additional 89,845 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Molina Healthcare by 13.2% in the second quarter. California Public Employees Retirement System now owns 86,142 shares of the company’s stock worth $8,437,000 after purchasing an additional 10,044 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Molina Healthcare by 43,291.3% in the second quarter. Glenmede Trust Co. NA now owns 49,900 shares of the company’s stock worth $4,887,000 after purchasing an additional 49,785 shares during the last quarter. Castleark Management LLC purchased a new position in shares of Molina Healthcare in the second quarter worth about $13,851,000. Finally, Millennium Management LLC purchased a new position in shares of Molina Healthcare in the second quarter worth about $48,044,000.

Several research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Molina Healthcare from $132.00 to $178.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 5th. Zacks Investment Research upgraded Molina Healthcare from a “hold” rating to a “buy” rating and set a $144.00 price objective for the company in a research note on Friday, August 3rd. Barclays raised their price objective on Molina Healthcare from $105.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 2nd. Wells Fargo & Co raised their price objective on Molina Healthcare from $92.00 to $120.00 and gave the stock a “market perform” rating in a research note on Thursday, August 2nd. Finally, SunTrust Banks raised their price objective on Molina Healthcare to $140.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $117.83.

In related news, insider Norman Nichols sold 4,501 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $127.00, for a total transaction of $571,627.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider James Woys bought 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were bought at an average cost of $148.79 per share, for a total transaction of $3,719,750.00. Following the completion of the acquisition, the insider now owns 17,203 shares of the company’s stock, valued at $2,559,634.37. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 9,867 shares of company stock worth $1,301,992. 0.65% of the stock is owned by corporate insiders.

Molina Healthcare stock opened at $152.72 on Monday. The stock has a market cap of $9.43 billion, a P/E ratio of 272.71, a P/E/G ratio of 1.49 and a beta of 1.27. Molina Healthcare, Inc. has a 52 week low of $58.66 and a 52 week high of $153.83. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.73.

Molina Healthcare (NYSE:MOH) last posted its earnings results on Tuesday, July 31st. The company reported $3.08 EPS for the quarter, topping the consensus estimate of $1.09 by $1.99. The firm had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.67 billion. Molina Healthcare had a positive return on equity of 23.01% and a negative net margin of 0.26%. Molina Healthcare’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the company earned ($4.01) earnings per share. research analysts anticipate that Molina Healthcare, Inc. will post 6.68 earnings per share for the current fiscal year.

About Molina Healthcare

Molina Healthcare, Inc provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program in the United States. It operates through three segments: Health Plans, Molina Medicaid Solutions, and Other.

See Also: Asset Allocation

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Institutional Ownership by Quarter for Molina Healthcare (NYSE:MOH)

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