Empowered Funds LLC Lowers Stock Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Empowered Funds LLC decreased its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,649 shares of the company’s stock after selling 737 shares during the period. Empowered Funds LLC owned about 0.10% of Molina Healthcare worth $18,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of Molina Healthcare in the first quarter valued at about $69,320,000. Jupiter Asset Management Ltd. lifted its stake in Molina Healthcare by 434.6% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock worth $55,181,000 after purchasing an additional 150,890 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Molina Healthcare by 36.2% during the 2nd quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock worth $137,810,000 after purchasing an additional 123,121 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Molina Healthcare by 13.3% in the second quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock valued at $282,343,000 after purchasing an additional 111,154 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Molina Healthcare by 14.8% in the first quarter. Boston Partners now owns 798,950 shares of the company’s stock valued at $328,101,000 after purchasing an additional 103,245 shares during the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Molina Healthcare Price Performance

NYSE:MOH opened at $304.51 on Friday. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 1.06 and a beta of 0.59. The company has a current ratio of 1.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. Molina Healthcare, Inc. has a 12-month low of $272.69 and a 12-month high of $423.92. The company’s 50-day moving average is $329.37 and its two-hundred day moving average is $326.23.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, beating analysts’ consensus estimates of $5.96 by $0.05. The firm had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $9.92 billion. Molina Healthcare had a return on equity of 27.88% and a net margin of 2.92%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $5.05 earnings per share. Research analysts expect that Molina Healthcare, Inc. will post 23.45 EPS for the current year.

Wall Street Analysts Forecast Growth

MOH has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Molina Healthcare from $359.00 to $372.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price objective on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 target price on shares of Molina Healthcare in a research note on Thursday, October 24th. Robert W. Baird dropped their target price on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Jefferies Financial Group reduced their price target on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Molina Healthcare has an average rating of “Moderate Buy” and a consensus target price of $367.17.

Molina Healthcare 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.