Ameriprise Financial Inc. Sells 90,748 Shares of Molina Healthcare, Inc. (MOH)
Ameriprise Financial Inc. lessened its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 15.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 485,047 shares of the company’s stock after selling 90,748 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.85% of Molina Healthcare worth $33,351,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. LS Investment Advisors LLC boosted its position in shares of Molina Healthcare by 40.9% in the 2nd quarter. LS Investment Advisors LLC now owns 1,829 shares of the company’s stock worth $127,000 after purchasing an additional 531 shares in the last quarter. Riverhead Capital Management LLC boosted its position in shares of Molina Healthcare by 64.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,463 shares of the company’s stock worth $170,000 after purchasing an additional 963 shares in the last quarter. Sabal Trust CO acquired a new stake in shares of Molina Healthcare in the 3rd quarter worth $206,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Molina Healthcare by 478.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,316 shares of the company’s stock worth $229,000 after purchasing an additional 2,743 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Molina Healthcare in the 2nd quarter worth $241,000. 96.23% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on MOH shares. Jefferies Group raised their price objective on Molina Healthcare from $64.00 to $74.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. Zacks Investment Research cut Molina Healthcare from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Deutsche Bank reissued a “hold” rating and issued a $72.00 price objective on shares of Molina Healthcare in a research report on Wednesday, August 9th. Wolfe Research raised Molina Healthcare from a “market perform” rating to an “outperform” rating in a research report on Monday, October 23rd. Finally, Morgan Stanley raised their price objective on Molina Healthcare from $68.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, November 3rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $64.30.
Shares of Molina Healthcare, Inc. (NYSE:MOH) traded down $0.13 on Monday, reaching $78.11. The company’s stock had a trading volume of 927,600 shares, compared to its average volume of 1,258,505. Molina Healthcare, Inc. has a 12 month low of $42.56 and a 12 month high of $80.65. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4,459.61, a PE ratio of 24.26 and a beta of 0.97.
Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Thursday, November 2nd. The company reported ($1.62) EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($1.85). Molina Healthcare had a positive return on equity of 17.76% and a negative net margin of 1.76%. The firm had revenue of $5.03 billion for the quarter, compared to analyst estimates of $4.95 billion. During the same period in the prior year, the firm posted $0.85 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. equities research analysts predict that Molina Healthcare, Inc. will post -3.88 EPS for the current fiscal year.
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Molina Healthcare Profile
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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