Pitcairn Co. Trims Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Pitcairn Co. reduced its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 29.6% during the 4th quarter, HoldingsChannel reports. The firm owned 1,269 shares of the company’s stock after selling 534 shares during the period. Pitcairn Co.’s holdings in Molina Healthcare were worth $369,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake 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 buying an additional 74 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in shares of Molina Healthcare in the 4th quarter valued at approximately $52,000. EverSource Wealth Advisors LLC increased its holdings in shares of 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 during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Molina Healthcare by 337.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 201 shares of the company’s stock worth $58,000 after purchasing an additional 155 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Molina Healthcare by 895.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 199 shares of the company’s stock worth $58,000 after purchasing an additional 179 shares during the period. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Molina Healthcare

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Mizuho cut their price objective on shares of Molina Healthcare from $382.00 to $376.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $350.00 price target (down from $378.00) on shares of Molina Healthcare in a report on Tuesday, December 17th. Truist Financial lowered their price objective on Molina Healthcare from $370.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Wells Fargo & Company raised Molina Healthcare from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $295.00 to $372.00 in a research note on Wednesday, March 5th. Finally, UBS Group decreased their price target on Molina Healthcare from $374.00 to $325.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Molina Healthcare currently has an average rating of “Moderate Buy” and an average target price of $348.75.

Molina Healthcare Price Performance

Molina Healthcare stock opened at $347.26 on Friday. The firm has a market capitalization of $18.99 billion, a PE ratio of 17.00, a P/E/G ratio of 1.06 and a beta of 0.56. Molina Healthcare, Inc. has a 52 week low of $262.32 and a 52 week high of $383.58. The firm’s 50-day simple moving average is $306.76 and its 200 day simple moving average is $308.73. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. On average, equities research analysts predict that Molina Healthcare, Inc. will post 24.4 EPS for the current fiscal 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.