Fifth Third Bancorp grew its stake in shares of Molina Healthcare, Inc. (NYSE:MOH – Free Report) by 29.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,534 shares of the company’s stock after purchasing an additional 570 shares during the quarter. Fifth Third Bancorp’s holdings in Molina Healthcare were worth $738,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of MOH. Public Sector Pension Investment Board lifted its stake in Molina Healthcare by 13.5% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,527 shares of the company’s stock worth $871,000 after purchasing an additional 300 shares in the last quarter. CWM LLC boosted its stake in Molina Healthcare by 76.2% during the third quarter. CWM LLC now owns 4,001 shares of the company’s stock valued at $1,379,000 after buying an additional 1,730 shares during the last quarter. Everence Capital Management Inc. purchased a new position in Molina Healthcare during the 4th quarter valued at approximately $544,000. Oddo BHF Asset Management Sas bought a new stake in Molina Healthcare in the 3rd quarter worth approximately $2,947,000. Finally, Tri Ri Asset Management Corp purchased a new stake in shares of Molina Healthcare during the 3rd quarter worth approximately $3,722,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on MOH shares. Robert W. Baird reduced their price target on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays upped their target price on shares of Molina Healthcare from $359.00 to $372.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Truist Financial dropped their price target on Molina Healthcare from $400.00 to $370.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $350.00 price objective (down from $378.00) on shares of Molina Healthcare in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Molina Healthcare currently has an average rating of “Hold” and a consensus price target of $359.18.
Molina Healthcare Stock Down 0.9 %
NYSE:MOH opened at $304.72 on Thursday. The company has a market cap of $17.43 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. Molina Healthcare, Inc. has a twelve month low of $272.69 and a twelve month high of $423.92. The company has a current ratio of 1.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $296.71 and a 200-day simple moving average of $317.57.
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.
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