Jennison Associates LLC Decreases Stock Holdings in Molina Healthcare, Inc. (NYSE:MOH)

Jennison Associates LLC reduced its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 75.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,402 shares of the company’s stock after selling 191,261 shares during the period. Jennison Associates LLC owned 0.11% of Molina Healthcare worth $21,846,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in shares of Molina Healthcare by 2.6% in the 1st quarter. Bessemer Group Inc. now owns 2,896 shares of the company’s stock worth $1,190,000 after buying an additional 74 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Molina Healthcare in the first quarter valued at $206,000. Toronto Dominion Bank increased its position in Molina Healthcare by 1.7% during the 1st quarter. Toronto Dominion Bank now owns 33,193 shares of the company’s stock valued at $13,637,000 after purchasing an additional 541 shares during the period. Lazard Asset Management LLC raised its holdings in Molina Healthcare by 19.6% in the 1st quarter. Lazard Asset Management LLC now owns 17,975 shares of the company’s stock worth $7,383,000 after purchasing an additional 2,940 shares in the last quarter. Finally, Bellevue Group AG lifted its position in shares of Molina Healthcare by 9.2% in the 1st quarter. Bellevue Group AG now owns 99,883 shares of the company’s stock worth $41,035,000 after purchasing an additional 8,407 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Price Performance

MOH opened at $290.79 on Friday. The firm has a market cap of $16.63 billion, a PE ratio of 14.77, a P/E/G ratio of 0.97 and a beta of 0.59. The stock has a 50-day moving average price of $324.43 and a 200-day moving average price of $324.40. Molina Healthcare, Inc. has a 1 year low of $272.69 and a 1 year high of $423.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.54 and a quick ratio of 1.55.

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

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Molina Healthcare from $360.00 to $362.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. StockNews.com upgraded Molina Healthcare from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lowered their target price on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Barclays upped their price target on Molina Healthcare from $359.00 to $372.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Robert W. Baird decreased their price objective on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.17.

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.