Legal & General Group Plc Buys New Position in Molina Healthcare, Inc $MOH

Key Points

• Legal & General Group Plc acquired 143,510 Molina Healthcare shares worth approximately $32.8 million, representing about 0.27% of the company. 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 net margin of -0.02%.
• Analysts have a consensus “Hold” rating and an average price target of $202.44, close to the stock’s reported $200.03 price; targets range from $169 to $286.

Legal & General Group Plc purchased a new position in shares of Molina Healthcare, Inc (NYSE:MOH - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 143,510 shares of the company's stock, valued at approximately $32,821,000. Legal & General Group Plc owned about 0.27% of Molina Healthcare at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. 7G Capital Management LLC bought a new stake in shares of Molina Healthcare in the fourth quarter valued at about $1,735,000. BNP Paribas Financial Markets grew its holdings in shares of Molina Healthcare by 63.0% during the fourth quarter. BNP Paribas Financial Markets now owns 439,371 shares of the company's stock worth $76,248,000 after buying an additional 169,739 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Molina Healthcare by 394.1% during the second quarter. Assenagon Asset Management S.A. now owns 156,632 shares of the company's stock worth $35,822,000 after buying an additional 124,929 shares in the last quarter. Aurora Investment Managers LLC. acquired a new stake in Molina Healthcare in the 1st quarter valued at approximately $2,349,000. Finally, Easterly Investment Partners LLC raised its position in Molina Healthcare by 227.8% in the 4th quarter. Easterly Investment Partners LLC now owns 38,082 shares of the company's stock valued at $6,609,000 after buying an additional 26,464 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Molina Healthcare Price Performance

NYSE:MOH opened at $200.03 on Friday. The stock has a market capitalization of $10.44 billion, a PE ratio of -1,111.22, a P/E/G ratio of 28.48 and a beta of 0.75. Molina Healthcare, Inc has a 1-year low of $121.06 and a 1-year high of $244.89. The firm has a fifty day simple moving average of $211.49 and a 200 day simple moving average of $179.63. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.95.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Molina Healthcare from $169.00 to $191.00 and gave the company a "neutral" rating in a research note on Monday, June 8th. TD Cowen lifted their price objective 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. Mizuho set a $215.00 price objective on shares of Molina Healthcare in a research report on Monday, June 8th. Sanford C. Bernstein set a $286.00 target price on shares of Molina Healthcare in a report on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Molina Healthcare from a "hold" rating to a "sell" rating in a research report on Saturday. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Molina Healthcare currently has a consensus rating of "Hold" and a consensus target price of $202.44.

Molina Healthcare Company Profile

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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