Jennison Associates LLC Lowers Stake in Molina Healthcare, Inc. (NYSE:MOH)

Jennison Associates LLC lessened its holdings in shares of Molina Healthcare, Inc. (NYSE:MOH) by 8.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 328,829 shares of the company’s stock after selling 31,409 shares during the quarter. Jennison Associates LLC’s holdings in Molina Healthcare were worth $135,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Quent Capital LLC lifted its holdings in shares of Molina Healthcare by 6.8% during the 1st quarter. Quent Capital LLC now owns 489 shares of the company’s stock valued at $201,000 after purchasing an additional 31 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Molina Healthcare by 44.0% in the 1st quarter. Nordea Investment Management AB now owns 26,244 shares of the company’s stock valued at $10,852,000 after acquiring an additional 8,025 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Molina Healthcare in the 1st quarter valued at $151,000. BNP Paribas acquired a new position in shares of Molina Healthcare in the 1st quarter valued at $560,000. Finally, Tobam increased its position in shares of Molina Healthcare by 847.3% in the 1st quarter. Tobam now owns 1,601 shares of the company’s stock valued at $658,000 after acquiring an additional 1,432 shares during the period. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on MOH shares. Wells Fargo & Company cut their target price on Molina Healthcare from $410.00 to $375.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. TD Cowen cut their price target on Molina Healthcare from $453.00 to $412.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Stephens reaffirmed an “equal weight” rating and set a $390.00 price target on shares of Molina Healthcare in a research report on Thursday, April 25th. Robert W. Baird initiated coverage on Molina Healthcare in a research report on Thursday, May 30th. They set an “outperform” rating and a $405.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $407.45.

Molina Healthcare Price Performance

Molina Healthcare stock traded down $0.41 during midday trading on Monday, reaching $292.78. The company had a trading volume of 247,627 shares, compared to its average volume of 434,737. The company has a market capitalization of $17.16 billion, a P/E ratio of 15.89, a P/E/G ratio of 0.90 and a beta of 0.58. Molina Healthcare, Inc. has a 12-month low of $288.79 and a 12-month high of $423.92. The firm’s fifty day simple moving average is $320.85 and its 200-day simple moving average is $360.06. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.49.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share for the quarter, beating analysts’ consensus estimates of $5.46 by $0.27. The firm had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.45 billion. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. Molina Healthcare’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted $5.81 EPS. As a group, equities analysts anticipate that Molina Healthcare, Inc. will post 23.56 EPS for the current year.

Insiders Place Their Bets

In other Molina Healthcare news, COO James Woys sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total value of $3,451,500.00. Following the transaction, the chief operating officer now directly owns 53,613 shares of the company’s stock, valued at approximately $18,504,526.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Molina Healthcare news, COO James Woys sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total value of $3,451,500.00. Following the transaction, the chief operating officer now directly owns 53,613 shares of the company’s stock, valued at approximately $18,504,526.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronna Romney sold 250 shares of Molina Healthcare stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total transaction of $85,817.50. Following the sale, the director now directly owns 16,945 shares in the company, valued at approximately $5,816,710.15. The disclosure for this sale can be found here. Corporate insiders own 1.11% of the company’s stock.

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.