Renaissance Technologies LLC Has $282.34 Million Stake in Molina Healthcare, Inc. (NYSE:MOH)

Renaissance Technologies LLC grew its stake in Molina Healthcare, Inc. (NYSE:MOH) by 13.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 949,691 shares of the company’s stock after purchasing an additional 111,154 shares during the period. Molina Healthcare comprises about 0.5% of Renaissance Technologies LLC’s investment portfolio, making the stock its 23rd biggest position. Renaissance Technologies LLC owned about 1.62% of Molina Healthcare worth $282,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Molina Healthcare by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 6,585,954 shares of the company’s stock valued at $2,379,571,000 after acquiring an additional 23,715 shares in the last quarter. Capital World Investors boosted its position in shares of Molina Healthcare by 0.3% during the 4th quarter. Capital World Investors now owns 5,490,147 shares of the company’s stock valued at $1,983,645,000 after acquiring an additional 14,775 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Molina Healthcare by 12.8% during the 4th quarter. Wellington Management Group LLP now owns 3,831,100 shares of the company’s stock valued at $1,384,215,000 after acquiring an additional 436,060 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Molina Healthcare by 5.4% during the 4th quarter. Capital Research Global Investors now owns 2,430,283 shares of the company’s stock valued at $878,086,000 after acquiring an additional 123,894 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Molina Healthcare by 0.9% during the 1st quarter. Capital International Investors now owns 1,665,801 shares of the company’s stock valued at $684,361,000 after acquiring an additional 15,264 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Robert W. Baird assumed coverage on shares of Molina Healthcare in a report on Thursday, May 30th. They set an “outperform” rating and a $405.00 price target for the company. Wells Fargo & Company lifted their price target on shares of Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. TD Cowen cut their price target on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Molina Healthcare has a consensus rating of “Moderate Buy” and a consensus price target of $378.00.

Insider Buying and Selling at Molina Healthcare

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

Molina Healthcare Trading Up 1.5 %

MOH opened at $358.20 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $20.99 billion, a price-to-earnings ratio of 19.44, a price-to-earnings-growth ratio of 1.20 and a beta of 0.57. The firm has a 50 day simple moving average of $329.20 and a 200 day simple moving average of $344.03. Molina Healthcare, Inc. has a fifty-two week low of $282.96 and a fifty-two week high of $423.92.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The firm had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same quarter in the previous year, the company earned $5.65 earnings per share. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, sell-side analysts anticipate that Molina Healthcare, Inc. will post 23.5 earnings per share for the current 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.