Waypoint Wealth Counsel has acquired a significant stake in Molina Healthcare, Inc. (NYSE: MOH), purchasing 3,421 shares valued at approximately $655,000. This acquisition occurred during the third quarter, reflecting the firm’s confidence in Molina’s potential. The move is part of a broader trend, as several institutional investors have recently adjusted their holdings in the company.
In the second quarter, First Horizon Advisors Inc. notably increased its investment in Molina Healthcare by an impressive 2,140%, acquiring an additional 107 shares to bring its total to 112 shares, now valued at $33,000. Other firms, such as CYBER HORNET ETFs LLC and MUFG Securities EMEA plc, also made new investments, valued at approximately $45,000 and $48,000, respectively. Zions Bancorporation National Association UT raised its stake by 121.8%, now owning 193 shares worth $57,000. Caitong International Asset Management Co. Ltd. dramatically increased its position by 2,744.4%, owning 256 shares valued at $76,000. Collectively, institutional investors and hedge funds now hold approximately 98.50% of Molina’s stock.
Analyst Ratings and Stock Performance
Recent ratings from financial analysts indicate a cautious outlook for Molina Healthcare. Cantor Fitzgerald adjusted their price target from $210.00 to $180.00, rating the stock as “neutral.” Jefferies Financial Group set a price target of $160.00, while Morgan Stanley’s target stands at $158.00. Weiss Ratings maintained a “sell (d+)” rating, and Barclays lowered its target to $144.00 from $185.00. Overall, three analysts have categorized the stock with a Buy rating, eleven with a Hold rating, and two with a Sell rating, resulting in a consensus rating of “Hold” with a target price of $196.33, according to MarketBeat.
On October 22, 2023, Molina Healthcare reported its latest quarterly earnings, revealing earnings per share (EPS) of $1.84. This figure fell short of analysts’ expectations of $3.97 by $2.13. The company recorded a net margin of 1.98% and a return on equity of 22.95%. Revenue for the quarter was $11.48 billion, exceeding expectations of $10.99 billion. This represents an 11.0% increase in revenue compared to the same quarter last year.
Insider Activity and Company Profile
In related news, on November 24, 2023, Director Richard M. Schapiro sold 357 shares at an average price of $143.02, totaling $51,058.14. Following this transaction, Schapiro retained 11,352 shares, valued at approximately $1,623,563.04. Insiders currently own 1.26% of the company’s stock.
Molina Healthcare, Inc. is a managed care company specializing in government-sponsored health insurance programs, including Medicaid and Medicare Advantage plans. The firm focuses on preventive care and disease management, aiming to improve health outcomes for its members. Established in the early 1980s, Molina has grown into a significant player in the healthcare sector.
As Molina Healthcare continues to navigate the market, the engagement of institutional investors and the insight from analysts will play a crucial role in shaping its future trajectory.
