Jennison Associates LLC Sells 18,230 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Jennison Associates LLC decreased its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,796 shares of the company’s stock after selling 18,230 shares during the period. Jennison Associates LLC owned about 0.57% of Molina Healthcare worth $91,105,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Eubel Brady & Suttman Asset Management Inc. purchased a new position in shares of Molina Healthcare in the 2nd quarter worth $47,000. First Horizon Advisors Inc. boosted its stake in shares of Molina Healthcare by 35.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 326 shares of the company’s stock worth $50,000 after buying an additional 86 shares during the last quarter. Berman Capital Advisors LLC boosted its stake in shares of Molina Healthcare by 125.5% in the 2nd quarter. Berman Capital Advisors LLC now owns 212 shares of the company’s stock worth $53,000 after buying an additional 118 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Molina Healthcare in the 2nd quarter worth $54,000. Finally, Advisory Services Network LLC purchased a new position in shares of Molina Healthcare in the 2nd quarter worth $56,000. 93.73% of the stock is owned by institutional investors and hedge funds.

Shares of MOH stock opened at $289.77 on Friday. The stock’s 50-day moving average price is $304.01 and its 200-day moving average price is $280.51. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.93. Molina Healthcare, Inc. has a 12-month low of $199.81 and a 12-month high of $328.11. The stock has a market capitalization of $16.92 billion, a price-to-earnings ratio of 28.78, a price-to-earnings-growth ratio of 0.81 and a beta of 0.73.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, October 27th. The company reported $2.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.80 by $0.03. Molina Healthcare had a return on equity of 25.93% and a net margin of 2.31%. The company had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the firm posted $3.36 earnings per share. The firm’s revenue for the quarter was up 40.2% on a year-over-year basis. As a group, research analysts predict that Molina Healthcare, Inc. will post 13.37 EPS for the current fiscal year.

MOH has been the topic of several analyst reports. Barclays lifted their target price on Molina Healthcare from $310.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, October 29th. Mizuho lifted their target price on Molina Healthcare from $305.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, November 1st. Morgan Stanley lifted their target price on Molina Healthcare from $316.00 to $397.00 and gave the company an “overweight” rating in a research report on Friday, October 29th. The Goldman Sachs Group initiated coverage on Molina Healthcare in a research report on Tuesday, December 14th. They set a “buy” rating and a $335.00 target price on the stock. Finally, Stephens lifted their target price on Molina Healthcare from $280.00 to $300.00 and gave the company an “equal weight” rating in a research report on Friday, October 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $323.71.

In other Molina Healthcare news, Director Ronna Romney sold 300 shares of the business’s stock in a transaction that occurred on Monday, November 8th. The stock was sold at an average price of $305.01, for a total transaction of $91,503.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel Cooperman sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $309.13, for a total value of $1,545,650.00. The disclosure for this sale can be found here. Insiders own 1.49% of the company’s stock.

Molina Healthcare Company Profile

Molina Healthcare, Inc engages in the provision of health care services. It operates through the Health Plans and Other segments. The Health Plans segment consists of health plans in 11 states and the Commonwealth of Puerto Rico and includes direct delivery business. The Other segment includes the historical results of the MMIS and behavioral health subsidiaries.

Further Reading: Leveraged Buyout (LBO) Explained

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

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