Assenagon Asset Management S.A. Sells 2,823 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Assenagon Asset Management S.A. trimmed its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 9.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,996 shares of the company’s stock after selling 2,823 shares during the period. Assenagon Asset Management S.A.’s holdings in Molina Healthcare were worth $7,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in Molina Healthcare by 36.2% during the 2nd quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock valued at $137,810,000 after purchasing an additional 123,121 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Molina Healthcare by 22.0% during the second quarter. Dimensional Fund Advisors LP now owns 470,932 shares of the company’s stock valued at $140,026,000 after buying an additional 84,929 shares during the period. APG Asset Management N.V. boosted its position in Molina Healthcare by 47.6% during the second quarter. APG Asset Management N.V. now owns 105,897 shares of the company’s stock worth $29,375,000 after purchasing an additional 34,156 shares in the last quarter. Scion Asset Management LLC purchased a new position in Molina Healthcare during the second quarter valued at $7,293,000. Finally, NFJ Investment Group LLC acquired a new position in Molina Healthcare in the 3rd quarter valued at $7,432,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Trading Up 1.3 %

NYSE:MOH opened at $286.36 on Monday. The stock has a market cap of $16.38 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.89 and a beta of 0.54. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.54. The business’s 50-day simple moving average is $296.84 and its 200 day simple moving average is $317.13. Molina Healthcare, Inc. has a one year low of $272.69 and a one year high of $423.92.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, topping the consensus estimate of $5.96 by $0.05. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The company had revenue of $10.34 billion during the quarter, compared to analyst estimates of $9.92 billion. During the same period last year, the business earned $5.05 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, sell-side analysts predict that Molina Healthcare, Inc. will post 23.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a report on Thursday, October 24th. Truist Financial cut their target price on shares of Molina Healthcare from $400.00 to $370.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Robert W. Baird cut their target price on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company increased their target price on Molina Healthcare from $360.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $350.00 price target (down from $378.00) on shares of Molina Healthcare in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $359.18.

About Molina Healthcare

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.