Assenagon Asset Management S.A. Purchases Shares of 134,474 Molina Healthcare, Inc. (MOH)

Assenagon Asset Management S.A. purchased a new position in shares of Molina Healthcare, Inc. (NYSE:MOH) in the third quarter, Holdings Channel reports. The fund purchased 134,474 shares of the company’s stock, valued at approximately $19,996,000.

Other hedge funds have also made changes to their positions in the company. Arrowgrass Capital Partners US LP acquired a new position in Molina Healthcare during the 2nd quarter worth $4,711,000. Glenmede Trust Co. NA lifted its holdings in shares of Molina Healthcare by 43,291.3% in the second quarter. Glenmede Trust Co. NA now owns 49,900 shares of the company’s stock valued at $4,887,000 after buying an additional 49,785 shares during the period. Rhumbline Advisers lifted its holdings in shares of Molina Healthcare by 22.4% in the second quarter. Rhumbline Advisers now owns 104,482 shares of the company’s stock valued at $10,233,000 after buying an additional 19,093 shares during the period. Epoch Investment Partners Inc. lifted its holdings in shares of Molina Healthcare by 32.7% in the second quarter. Epoch Investment Partners Inc. now owns 354,562 shares of the company’s stock valued at $34,726,000 after buying an additional 87,460 shares during the period. Finally, Federated Investors Inc. PA lifted its holdings in shares of Molina Healthcare by 73.0% in the second quarter. Federated Investors Inc. PA now owns 137,064 shares of the company’s stock valued at $13,423,000 after buying an additional 57,844 shares during the period.

Several brokerages have recently weighed in on MOH. Zacks Investment Research upgraded Molina Healthcare from a “hold” rating to a “strong-buy” rating and set a $155.00 price objective for the company in a report on Tuesday, October 23rd. Morgan Stanley upped their price objective on Molina Healthcare from $100.00 to $108.00 and gave the company an “overweight” rating in a report on Friday, July 13th. Wells Fargo & Co upped their price objective on Molina Healthcare from $92.00 to $120.00 and gave the company a “market perform” rating in a report on Thursday, August 2nd. SunTrust Banks upped their price objective on Molina Healthcare to $120.00 and gave the company a “buy” rating in a report on Tuesday, July 10th. Finally, Bank of America upped their price objective on Molina Healthcare from $94.00 to $110.00 and gave the company an “underperform” rating in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Molina Healthcare currently has a consensus rating of “Hold” and an average target price of $130.62.

Shares of Molina Healthcare stock opened at $124.62 on Tuesday. The firm has a market cap of $7.88 billion, a PE ratio of 222.54, a P/E/G ratio of 1.47 and a beta of 1.26. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.73. Molina Healthcare, Inc. has a 12-month low of $65.83 and a 12-month high of $154.06.

Molina Healthcare (NYSE:MOH) last announced its earnings results on Tuesday, July 31st. The company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $1.99. The company had revenue of $4.88 billion for the quarter, compared to analyst estimates of $4.67 billion. Molina Healthcare had a positive return on equity of 23.01% and a negative net margin of 0.26%. Molina Healthcare’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($4.01) earnings per share. Equities research analysts predict that Molina Healthcare, Inc. will post 6.69 EPS for the current fiscal year.

In other news, Director Ronna Romney sold 200 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $138.11, for a total transaction of $27,622.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Norman Nichols sold 4,501 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $127.00, for a total value of $571,627.00. The disclosure for this sale can be found here. Insiders have sold 9,717 shares of company stock worth $1,289,932 over the last ninety days. 0.65% of the stock is owned by insiders.

About Molina Healthcare

Molina Healthcare, Inc provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program in the United States. It operates through three segments: Health Plans, Molina Medicaid Solutions, and Other.

Further Reading: Bond

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Institutional Ownership by Quarter for Molina Healthcare (NYSE:MOH)

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