Cibc World Markets Corp Has $2.71 Million Position in Molina Healthcare, Inc. (NYSE:MOH)
Cibc World Markets Corp increased its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 133.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund now owns 7,510 shares of the company’s stock, valued at $2,713,000 after purchasing an additional 4,292 shares during the quarter.
Other institutional investors and hedge funds have also made changes to their stakes in Molina Healthcare. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in the company in the third quarter, while McIlrath & Eck LLC and VisionPoint Advisory Group LLC increased their positions in the 4th quarter and third quarter, respectively. Raleigh Capital Management Inc. and Principal Securities Inc. also acquired stakes in the company during the third and fourth quarters.
Insider transactions at Molina Healthcare have also been notable, with COO James Woys and Director Ronna Romney selling shares in May. Woys sold 10,000 shares at an average price of $345.15, while Romney sold 250 shares at an average price of $343.27.
Wall Street analysts have weighed in on Molina Healthcare, with various ratings and price targets. Truist Financial raised their price target to $460.00, while Bank of America lowered their rating to “underperform.” Cantor Fitzgerald, Baird R W, and Stephens have also provided ratings and price targets for the stock.
Molina Healthcare’s stock performance has been steady, with a 50-day moving average price of $348.66 and a two-hundred day moving average price of $369.26. The company has a market cap of $18.14 billion, a P/E ratio of 16.80, and a beta of 0.57.
In its most recent quarterly earnings report, Molina Healthcare beat analysts’ consensus estimates with earnings per share of $5.73. The company had a net margin of 2.99% and a return on equity of 29.86%. Revenue for the quarter was $9.93 billion, up 21.9% from the same period last year.
Molina Healthcare provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs. The company operates in four segments and serves across 19 states. Founded in 1980, Molina Healthcare is headquartered in Long Beach, California.