Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Molina Healthcare, Inc. (MOH)’s Shares Hit All-Time High After Posting Second Quarter Results

The shares of Molina Healthcare, Inc. (NYSE:MOH) touched an all-time high of $76.97 after the company reported tremendous growth in its second quarter earnings results. The healthcare service provider announced adjusted earnings per share of $0.86, a big beat against Wall Streets’ estimate of $0.66, although its revenue of $3.5 billion was slightly short of the market’s expectations of $3.6 billion. Nonetheless, Molina Healthcare, Inc. (NYSE:MOH) reported growth of 52% in its quarterly revenue on a year-over-year basis. Some of the primary reasons for the growth in quarterly results included “higher revenue, greater medical and administrative cost efficiency, and more complete state reimbursement of the Affordable Care Act Health Insurer Fee (HIF).”

While discussing the quarterly results, J. Mario Molina M.D., chief executive officer of Molina Healthcare, said, “Our second quarter results mark continued progress and momentum in our business. We were able to improve our profit margins while simultaneously growing our top-line revenue and enrollment.” Several analysts have upgraded their ratings for Molina Healthcare in the wake of the results, including Stifel Nicolaus to a “Buy” rating from “Hold”, along with a “Buy” rating from Jefferies Group.

healthcare

The shares of Molina Healthcare, Inc. (NYSE:MOH) are trading up by 11.66% today, pushing their year-to-date growth of 41.79%. Smart money held a bullish outlook of the company earlier this year, as 22 hedge fund investors held $464.55 million of the company’s shares at the end of the first quarter against investments of $365.81 million from 22 investors three months earlier. Another reason for the growth in aggregate investments was the increase of 25.71% witnessed in the shares of Molina Healthcare, Inc. (NYSE:MOH) during the second quarter. Samuel Isaly’s Orbimed Advisors was the largest investor of the company in our database, with 3.46 million shares valued at $232.76 million. Israel Englander’s Millennium Management had 1.05 million shares of the Medicaid service provider in its portfolio, with a market value of $70.33 million. Ken Griffin’s Citadel Investment Group and Michael Hintze’s CQS Cayman LP were among the hedge funds holding bonds of the healthcare company in their portfolios.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...