Norges Bank Buys New Position in Molina Healthcare, Inc. (NYSE:MOH)

Norges Bank purchased a new position in Molina Healthcare, Inc. (NYSE:MOH) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 462,721 shares of the company’s stock, valued at approximately $134,675,000.

Other institutional investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board grew its position in Molina Healthcare by 13.5% in the third quarter. Public Sector Pension Investment Board now owns 2,527 shares of the company’s stock worth $871,000 after acquiring an additional 300 shares in the last quarter. Tributary Capital Management LLC lifted its stake in Molina Healthcare by 76.1% during the fourth quarter. Tributary Capital Management LLC now owns 4,190 shares of the company’s stock worth $1,219,000 after purchasing an additional 1,811 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Molina Healthcare in the 4th quarter worth about $544,000. Smartleaf Asset Management LLC increased its position in shares of Molina Healthcare by 123.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 347 shares of the company’s stock valued at $100,000 after purchasing an additional 192 shares during the last quarter. Finally, SYM FINANCIAL Corp purchased a new position in shares of Molina Healthcare during the 4th quarter valued at about $249,000. Institutional investors own 98.50% of the company’s stock.

Molina Healthcare Price Performance

Shares of Molina Healthcare stock opened at $329.44 on Tuesday. The business has a 50 day moving average of $303.84 and a 200 day moving average of $308.59. Molina Healthcare, Inc. has a 52 week low of $262.32 and a 52 week high of $409.07. The company has a market cap of $18.02 billion, a PE ratio of 16.13, a P/E/G ratio of 1.06 and a beta of 0.56. 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 issued its quarterly earnings data on Wednesday, February 5th. The company reported $5.05 EPS for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. As a group, equities research analysts forecast that Molina Healthcare, Inc. will post 24.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stephens reaffirmed an “equal weight” rating and issued a $345.00 target price on shares of Molina Healthcare in a research note on Thursday, February 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $350.00 price objective (down previously from $378.00) on shares of Molina Healthcare in a research note on Tuesday, December 17th. Barclays decreased their target price on shares of Molina Healthcare from $372.00 to $339.00 and set an “equal weight” rating on the stock in a research report on Friday, February 7th. UBS Group cut their price target on shares of Molina Healthcare from $374.00 to $325.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Finally, Wells Fargo & Company upgraded Molina Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $295.00 to $372.00 in a report on Wednesday, March 5th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $348.75.

Insiders Place Their Bets

In other news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 17,375 shares of the company’s stock, valued at approximately $5,235,608.75. This represents a 5.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Molina Healthcare 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.