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

Jennison Associates LLC lessened its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 75.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 63,402 shares of the company’s stock after selling 191,261 shares during the quarter. Jennison Associates LLC’s holdings in Molina Healthcare were worth $21,846,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Molina Healthcare during the second quarter valued at approximately $36,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Molina Healthcare during the 2nd quarter valued at $40,000. AM Squared Ltd bought a new position in shares of Molina Healthcare during the 2nd quarter valued at $59,000. Capital Performance Advisors LLP purchased a new position in shares of Molina Healthcare in the 3rd quarter worth $62,000. Finally, UMB Bank n.a. grew its holdings in shares of Molina Healthcare by 96.2% in the third quarter. UMB Bank n.a. now owns 206 shares of the company’s stock worth $71,000 after acquiring an additional 101 shares during the period. 98.50% of the stock is currently owned by institutional investors.

Molina Healthcare Trading Down 1.8 %

MOH stock opened at $290.79 on Friday. 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, Inc. has a 1-year low of $272.69 and a 1-year high of $423.92. The business has a 50 day simple moving average of $324.43 and a two-hundred day simple moving average of $324.40. The company has a market capitalization of $16.63 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.97 and a beta of 0.59.

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. Molina Healthcare had a return on equity of 27.88% and a net margin of 2.92%. The firm had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $9.92 billion. During the same period in the previous year, the firm posted $5.05 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. Research analysts anticipate that Molina Healthcare, Inc. will post 23.44 EPS for the current fiscal year.

Analyst Ratings Changes

MOH has been the topic of a number of recent research reports. StockNews.com raised Molina Healthcare from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Robert W. Baird cut their target price on shares of 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 increased their price target on shares of Molina Healthcare from $359.00 to $372.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.