2,658 Shares in Molina Healthcare, Inc $MOH Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Molina Healthcare, Inc (NYSE:MOH) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,658 shares of the company’s stock, valued at approximately $503,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Molina Healthcare in the 2nd quarter valued at about $1,503,052,000. Manning & Napier Advisors LLC acquired a new position in shares of Molina Healthcare in the second quarter valued at approximately $152,339,000. Maverick Capital Ltd. acquired a new stake in shares of Molina Healthcare during the first quarter worth $86,081,000. Bank of New York Mellon Corp purchased a new position in Molina Healthcare in the 2nd quarter valued at $86,138,000. Finally, Bank of America Corp DE acquired a new position in Molina Healthcare in the 2nd quarter valued at $71,480,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MOH has been the topic of several analyst reports. TD Cowen lifted their target price on shares of Molina Healthcare from $163.00 to $230.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Truist Financial reduced their price target on Molina Healthcare from $250.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 24th. Royal Bank Of Canada increased their price objective on Molina Healthcare from $218.00 to $222.00 and gave the stock a “sector perform” rating in a research report on Friday, October 23rd. Barclays lowered their price target on shares of Molina Healthcare from $180.00 to $178.00 and set an “underweight” rating on the stock in a research note on Friday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $163.00 price objective on shares of Molina Healthcare in a research note on Monday, October 26th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Molina Healthcare has a consensus rating of “Hold” and a consensus target price of $213.88.

Molina Healthcare Price Performance

NYSE:MOH opened at $203.23 on Tuesday. The company’s 50-day moving average is $202.02 and its two-hundred day moving average is $185.45. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.95. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 113.21, a price-to-earnings-growth ratio of 13.36 and a beta of 0.75. Molina Healthcare, Inc has a 12-month low of $121.06 and a 12-month high of $244.89.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. The company had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $10.86 billion. Molina Healthcare had a positive return on equity of 2.50% and a negative net margin of 0.11%. Molina Healthcare’s revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 EPS. Research analysts expect that Molina Healthcare, Inc will post 5.30 EPS for the current year.

Molina Healthcare Profile

Molina Healthcare, Inc is a managed care company that provides health insurance plans primarily to people covered by government-sponsored programs. Its offerings include Medicaid plans, Medicare plans for eligible individuals and dual-eligible members, and health plans sold through government marketplaces under the Affordable Care Act.

The company was founded in 1980 by physician C. David Molina in Long Beach, California, initially serving low-income families through community clinics.