Point72 Asia Singapore Pte. Ltd. Buys New Stake in Molina Healthcare, Inc. (NYSE:MOH)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Molina Healthcare, Inc. (NYSE:MOH) during the third quarter, according to its most recent filing with the SEC. The fund purchased 1,155 shares of the company’s stock, valued at approximately $398,000.

Other hedge funds have also bought and sold shares of the company. Jupiter Asset Management Ltd. lifted its position in shares of Molina Healthcare by 434.6% in the second quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock worth $55,181,000 after buying an additional 150,890 shares in the last quarter. AQR Capital Management LLC boosted its position 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 valued at $137,810,000 after acquiring an additional 123,121 shares during the last quarter. Renaissance Technologies LLC grew its holdings 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. Dimensional Fund Advisors LP increased its position in Molina Healthcare by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 470,932 shares of the company’s stock worth $140,026,000 after purchasing an additional 84,929 shares during the last quarter. Finally, Candriam S.C.A. raised its stake in Molina Healthcare by 1,565.1% during the second quarter. Candriam S.C.A. now owns 71,285 shares of the company’s stock valued at $21,192,000 after purchasing an additional 67,004 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Price Performance

Molina Healthcare stock opened at $301.87 on Tuesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.54 and a quick ratio of 1.55. The stock has a market cap of $17.27 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.03 and a beta of 0.54. The firm has a 50-day moving average of $316.48 and a two-hundred day moving average of $321.52. Molina Healthcare, Inc. has a 1 year low of $272.69 and a 1 year high of $423.92.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data 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 company 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%. Molina Healthcare’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.05 earnings per share. On average, research analysts forecast that Molina Healthcare, Inc. will post 23.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MOH. StockNews.com raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Robert W. Baird dropped their price target 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. Barclays upped their price objective on Molina Healthcare from $359.00 to $372.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a report on Thursday, October 24th. Finally, Wells Fargo & Company increased their price target on Molina Healthcare from $360.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.