601 Shares in Molina Healthcare, Inc. (NYSE:MOH) Bought by Cigna Investments Inc. New

Cigna Investments Inc. New acquired a new position in Molina Healthcare, Inc. (NYSE:MOH) during the third quarter, Holdings Channel.com reports. The firm acquired 601 shares of the company’s stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Molina Healthcare by 35.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,734 shares of the company’s stock valued at $1,123,000 after purchasing an additional 722 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Molina Healthcare by 139.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 64,496 shares of the company’s stock valued at $26,497,000 after buying an additional 37,509 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Molina Healthcare by 10.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,332 shares of the company’s stock worth $5,066,000 after buying an additional 1,128 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Molina Healthcare by 35.6% in the first quarter. BNP Paribas Financial Markets now owns 56,835 shares of the company’s stock worth $23,350,000 after buying an additional 14,920 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in Molina Healthcare by 15.5% in the first quarter. Janney Montgomery Scott LLC now owns 3,733 shares of the company’s stock valued at $1,534,000 after acquiring an additional 502 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the transaction, the chief accounting officer now owns 9,473 shares in the company, valued at approximately $3,282,583.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on MOH. Barclays raised their price objective on shares of Molina Healthcare from $359.00 to $372.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. TD Cowen lowered their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 target price on shares of Molina Healthcare in a report on Thursday, October 24th. Stephens reiterated an “equal weight” rating and issued a $320.00 price target on shares of Molina Healthcare in a report on Thursday, July 25th. Finally, Robert W. Baird reduced their price objective on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Molina Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $367.00.

Molina Healthcare Stock Performance

Shares of MOH opened at $326.75 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.54. Molina Healthcare, Inc. has a 1 year low of $272.69 and a 1 year high of $423.92. The firm has a fifty day moving average of $332.81 and a 200-day moving average of $328.26. The company has a market cap of $18.69 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.11 and a beta of 0.59.

Molina Healthcare (NYSE:MOH) last posted its earnings results on Wednesday, October 23rd. The company reported $6.01 EPS for the quarter, topping the consensus estimate of $5.96 by $0.05. The firm had revenue of $10.34 billion during the quarter, compared to analysts’ expectations of $9.92 billion. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. Molina Healthcare’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.05 EPS. As a group, equities analysts anticipate that Molina Healthcare, Inc. will post 23.44 earnings per share for the current year.

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.