Aigen Investment Management LP Cuts Stock Position in Molina Healthcare, Inc. (NYSE:MOH)

Aigen Investment Management LP decreased its stake in shares of Molina Healthcare, Inc. (NYSE:MOH) by 54.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,614 shares of the company’s stock after selling 1,923 shares during the quarter. Aigen Investment Management LP’s holdings in Molina Healthcare were worth $556,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MOH. Swedbank AB purchased a new position in shares of Molina Healthcare in the 1st quarter worth about $69,320,000. Jupiter Asset Management Ltd. raised its holdings in Molina Healthcare by 434.6% in the second quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock worth $55,181,000 after buying an additional 150,890 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Molina Healthcare by 36.2% in the second quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock worth $137,810,000 after buying an additional 123,121 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Molina Healthcare by 13.3% during the second quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock valued at $282,343,000 after buying an additional 111,154 shares during the last quarter. Finally, Boston Partners increased its position in shares of Molina Healthcare by 14.8% during the first quarter. Boston Partners now owns 798,950 shares of the company’s stock valued at $328,101,000 after acquiring an additional 103,245 shares in the last quarter. 98.50% of the stock is owned by institutional investors.

Molina Healthcare Price Performance

NYSE:MOH opened at $309.30 on Thursday. The business’s 50-day simple moving average is $329.37 and its two-hundred day simple moving average is $326.23. Molina Healthcare, Inc. has a 52 week low of $272.69 and a 52 week high of $423.92. The stock has a market cap of $17.69 billion, a PE ratio of 15.71, a P/E/G ratio of 1.10 and a beta of 0.59. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.53.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, October 23rd. The company reported $6.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.96 by $0.05. Molina Healthcare had a return on equity of 27.88% and a net margin of 2.92%. The company had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter last year, the company earned $5.05 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. As a group, analysts forecast that Molina Healthcare, Inc. will post 23.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on MOH. Deutsche Bank Aktiengesellschaft cut their target price on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Wells Fargo & Company lifted their price objective on Molina Healthcare from $360.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Jefferies Financial Group lowered their target price on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Robert W. Baird reduced their price target 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. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.