Bank of Nova Scotia boosted its holdings in Molina Healthcare Inc (NYSE:MOH) by 58.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,764 shares of the company’s stock after acquiring an additional 91,464 shares during the period. Bank of Nova Scotia owned about 0.44% of Molina Healthcare worth $17,209,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Molina Healthcare by 1.9% in the second quarter. Vanguard Group Inc. now owns 3,619,435 shares of the company’s stock worth $250,392,000 after acquiring an additional 66,206 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Molina Healthcare by 12.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,488,977 shares of the company’s stock worth $113,498,000 after acquiring an additional 282,144 shares during the last quarter. Redmile Group LLC lifted its holdings in Molina Healthcare by 42.7% in the first quarter. Redmile Group LLC now owns 1,149,727 shares of the company’s stock worth $52,428,000 after acquiring an additional 344,181 shares during the last quarter. Northern Trust Corp lifted its holdings in Molina Healthcare by 14.5% in the second quarter. Northern Trust Corp now owns 900,946 shares of the company’s stock worth $62,328,000 after acquiring an additional 113,808 shares during the last quarter. Finally, Rothschild Asset Management Inc. lifted its holdings in Molina Healthcare by 3.4% in the second quarter. Rothschild Asset Management Inc. now owns 665,946 shares of the company’s stock worth $46,070,000 after acquiring an additional 21,617 shares during the last quarter. 96.04% of the stock is currently owned by hedge funds and other institutional investors.
Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.87). The firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.88 billion. Molina Healthcare had a negative net margin of 1.07% and a positive return on equity of 16.10%. The business’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS.
In other news, insider William Dentino sold 66,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $60.09, for a total transaction of $3,965,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff D. Barlow sold 5,224 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $67.40, for a total transaction of $352,097.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 298,269 shares of company stock valued at $19,151,725. 6.20% of the stock is currently owned by corporate insiders.
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A number of equities analysts have issued reports on MOH shares. ValuEngine cut shares of Molina Healthcare from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Zacks Investment Research cut shares of Molina Healthcare from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Credit Suisse Group reissued an “underperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Molina Healthcare in a report on Friday, July 14th. Bank of America Corporation raised their target price on shares of Molina Healthcare from $59.00 to $60.00 and gave the stock an “underperform” rating in a report on Friday, July 14th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $72.00 target price on shares of Molina Healthcare in a report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Molina Healthcare currently has a consensus rating of “Hold” and a consensus price target of $62.25.
About Molina Healthcare
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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