Castleark Management LLC Invests $7.73 Million in Molina Healthcare, Inc $MOH

Castleark Management LLC bought a new position in shares of Molina Healthcare, Inc (NYSE:MOH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,790 shares of the company’s stock, valued at approximately $7,728,000. Castleark Management LLC owned about 0.06% of Molina Healthcare at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. ARGA Investment Management LP lifted its position in Molina Healthcare by 1.4% during the 1st quarter. ARGA Investment Management LP now owns 4,166 shares of the company’s stock worth $555,000 after buying an additional 59 shares in the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Molina Healthcare by 118.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 144 shares of the company’s stock valued at $33,000 after acquiring an additional 78 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Molina Healthcare by 64.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 232 shares of the company’s stock valued at $40,000 after acquiring an additional 91 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Molina Healthcare by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,668 shares of the company’s stock valued at $2,616,000 after acquiring an additional 92 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in shares of Molina Healthcare by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 16,753 shares of the company’s stock valued at $3,206,000 after acquiring an additional 104 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Molina Healthcare Trading Up 0.6%

Molina Healthcare stock opened at $199.79 on Wednesday. The stock has a 50-day simple moving average of $211.20 and a 200 day simple moving average of $178.83. The stock has a market capitalization of $10.43 billion, a P/E ratio of -1,109.88, a PEG ratio of 28.44 and a beta of 0.75. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.68 and a current ratio of 1.68. Molina Healthcare, Inc has a 52 week low of $121.06 and a 52 week high of $244.89.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.12. Molina Healthcare had a positive return on equity of 3.73% and a negative net margin of 0.02%.The company had revenue of $10.87 billion during the quarter, compared to analysts’ expectations of $10.83 billion. During the same period last year, the firm posted $5.48 earnings per share. The business’s revenue was down 4.8% on a year-over-year basis. Analysts expect that Molina Healthcare, Inc will post 5.29 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Royal Bank Of Canada dropped their target price on Molina Healthcare from $248.00 to $218.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Jefferies Financial Group set a $230.00 price target on Molina Healthcare in a research report on Tuesday, July 14th. Wells Fargo & Company dropped their price objective on Molina Healthcare from $235.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 28th. Truist Financial cut their price objective on Molina Healthcare from $250.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 24th. Finally, TD Cowen boosted their target price on shares of Molina Healthcare from $163.00 to $230.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Three analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Molina Healthcare currently has an average rating of “Hold” and an average target price of $202.44.

Molina Healthcare Profile

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.