Molina Healthcare, Inc. (NYSE:MOH) Position Reduced by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 42.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,910 shares of the company’s stock after selling 28,439 shares during the quarter. Glenmede Trust Co. NA’s holdings in Molina Healthcare were worth $13,407,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MOH. Townsquare Capital LLC bought a new position in Molina Healthcare during the third quarter valued at about $228,000. BNP Paribas Financial Markets boosted its position in shares of Molina Healthcare by 6.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 74,310 shares of the company’s stock valued at $25,604,000 after purchasing an additional 4,783 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Molina Healthcare in the 3rd quarter worth approximately $115,000. Dai ichi Life Insurance Company Ltd grew its stake in shares of Molina Healthcare by 37.3% in the 3rd quarter. Dai ichi Life Insurance Company Ltd now owns 5,521 shares of the company’s stock worth $1,902,000 after purchasing an additional 1,500 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Molina Healthcare by 0.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 72,920 shares of the company’s stock worth $25,125,000 after purchasing an additional 386 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Molina Healthcare Stock Performance

Shares of MOH stock opened at $296.60 on Friday. The firm has a market cap of $16.97 billion, a P/E ratio of 15.06, a PEG ratio of 1.03 and a beta of 0.59. 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 fifty-two week low of $272.69 and a fifty-two week high of $423.92. The stock’s 50-day moving average is $319.53 and its two-hundred day moving average is $322.75.

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

Analyst Upgrades and Downgrades

MOH has been the topic of several recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, October 24th. StockNews.com upgraded Molina Healthcare from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Barclays upped their target price on Molina Healthcare from $359.00 to $372.00 and gave the company an “equal weight” rating in a report on Friday, October 25th. Wells Fargo & Company lifted their price target on Molina Healthcare from $360.00 to $362.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Robert W. Baird reduced their price objective on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Molina Healthcare has an average rating of “Moderate Buy” and a consensus 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.