Assenagon Asset Management S.A. lowered its stake in Molina Healthcare, Inc. (NYSE:MOH – Free Report) by 61.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 58,908 shares of the company’s stock after selling 93,823 shares during the period. Assenagon Asset Management S.A. owned 0.10% of Molina Healthcare worth $15,757,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Captrust Financial Advisors increased its position in shares of Molina Healthcare by 0.5% in the 2nd quarter. Captrust Financial Advisors now owns 6,315 shares of the company’s stock worth $1,766,000 after purchasing an additional 33 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Molina Healthcare by 4.3% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 921 shares of the company’s stock valued at $304,000 after buying an additional 38 shares during the period. Utah Retirement Systems boosted its holdings in shares of Molina Healthcare by 0.4% in the 3rd quarter. Utah Retirement Systems now owns 10,299 shares of the company’s stock valued at $3,397,000 after buying an additional 40 shares during the period. Czech National Bank boosted its holdings in shares of Molina Healthcare by 0.6% in the 1st quarter. Czech National Bank now owns 6,879 shares of the company’s stock valued at $1,840,000 after buying an additional 43 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Molina Healthcare by 1.5% in the 4th quarter. Bessemer Group Inc. now owns 3,067 shares of the company’s stock valued at $1,013,000 after buying an additional 44 shares during the period. Institutional investors own 95.09% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have commented on MOH shares. StockNews.com downgraded shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Cantor Fitzgerald started coverage on shares of Molina Healthcare in a research report on Thursday, April 20th. They issued an “overweight” rating and a $354.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Molina Healthcare from $365.00 to $335.00 in a research report on Monday, May 8th. Truist Financial decreased their price objective on shares of Molina Healthcare from $380.00 to $365.00 in a report on Tuesday, June 20th. Finally, Wells Fargo & Company decreased their price objective on shares of Molina Healthcare from $307.00 to $282.00 and set an “underweight” rating for the company in a report on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $353.50.
Molina Healthcare Price Performance
Molina Healthcare (NYSE:MOH – Free Report) last released its earnings results on Wednesday, April 26th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.13 by $0.68. Molina Healthcare had a net margin of 2.64% and a return on equity of 36.20%. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the company earned $4.90 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Analysts anticipate that Molina Healthcare, Inc. will post 20.31 earnings per share for the current year.
Molina Healthcare Company 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.
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