Assenagon Asset Management S.A. Has $35.82 Million Holdings in Molina Healthcare, Inc $MOH

Key Points

• Assenagon Asset Management increased its Molina Healthcare stake by 394.1% in the second quarter, holding 156,632 shares valued at $35.82 million. Institutional investors collectively own 98.5% of MOH.
• Molina Healthcare reported quarterly EPS of $1.51, beating estimates of $1.39, while revenue reached $10.87 billion. However, revenue declined 4.8% year over year and the company posted a slightly negative net margin.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $202.44 versus the stock’s recent price of $196.65. Two company insiders also sold shares in May.

Assenagon Asset Management S.A. boosted its holdings in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 394.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 156,632 shares of the company's stock after purchasing an additional 124,929 shares during the quarter. Assenagon Asset Management S.A. owned 0.30% of Molina Healthcare worth $35,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MOH. ARGA Investment Management LP increased its holdings in shares of Molina Healthcare by 1.4% during the first quarter. ARGA Investment Management LP now owns 4,166 shares of the company's stock worth $555,000 after purchasing an additional 59 shares during the period. Blue Trust Inc. grew its position in Molina Healthcare by 23.8% during the fourth quarter. Blue Trust Inc. now owns 322 shares of the company's stock worth $56,000 after buying an additional 62 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Molina Healthcare by 64.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 232 shares of the company's stock worth $40,000 after acquiring an additional 91 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Molina Healthcare by 0.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,668 shares of the company's stock worth $2,616,000 after acquiring an additional 92 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Molina Healthcare by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,753 shares of the company's stock worth $3,206,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Molina Healthcare Price Performance

Molina Healthcare stock opened at $196.65 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.68 and a current ratio of 1.68. Molina Healthcare, Inc has a 52 week low of $121.06 and a 52 week high of $244.89. The stock has a market capitalization of $10.27 billion, a P/E ratio of -1,092.43, a price-to-earnings-growth ratio of 28.14 and a beta of 0.75. The stock has a fifty day moving average of $209.25 and a 200-day moving average of $177.81.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.12. The business had revenue of $10.87 billion for the quarter, compared to analyst estimates of $10.83 billion. Molina Healthcare had a positive return on equity of 3.73% and a negative net margin of 0.02%.Molina Healthcare's revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm posted $5.48 earnings per share. On average, sell-side analysts expect that Molina Healthcare, Inc will post 5.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Molina Healthcare news, insider Jeff D. Barlow sold 17,811 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $186.12, for a total value of $3,314,983.32. Following the sale, the insider owned 67,175 shares in the company, valued at $12,502,611. This trade represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Maurice Hebert sold 600 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $191.55, for a total transaction of $114,930.00. Following the completion of the sale, the chief accounting officer owned 12,815 shares in the company, valued at $2,454,713.25. This represents a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MOH shares. Jefferies Financial Group set a $230.00 target price on Molina Healthcare in a report on Tuesday, July 14th. Wall Street Zen raised shares of Molina Healthcare from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Cantor Fitzgerald reiterated a "neutral" rating on shares of Molina Healthcare in a research note on Friday, July 24th. Morgan Stanley raised their target price on shares of Molina Healthcare from $146.00 to $167.00 and gave the company an "equal weight" rating in a report on Thursday, June 4th. Finally, Zacks Research upgraded shares of Molina Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Molina Healthcare currently has a consensus rating of "Hold" and a consensus target price of $202.44.

About Molina Healthcare

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.

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