Molina Healthcare, Inc $MOH Stock Holdings Trimmed by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly reduced its holdings in Molina Healthcare by 75.9%, now owning only 7,127 shares valued at approximately $2.1 million.
• Multiple research firms have issued downgrades and reduced price targets for Molina Healthcare, with UBS Group lowering its target from $260 to $180, reflecting a consensus rating of "Hold."
• Molina Healthcare's recent earnings report showed a slight miss on EPS estimates, reporting $5.48 against expectations of $5.50, while revenue increased by 15.7% year-over-year.

Assenagon Asset Management S.A. decreased its holdings in Molina Healthcare, Inc (NYSE:MOH - Free Report) by 75.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,127 shares of the company's stock after selling 22,431 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Molina Healthcare were worth $2,123,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MOH. Perpetual Ltd lifted its holdings in Molina Healthcare by 93.1% in the second quarter. Perpetual Ltd now owns 2,754 shares of the company's stock worth $820,000 after purchasing an additional 1,328 shares during the period. IFM Investors Pty Ltd boosted its holdings in shares of Molina Healthcare by 2.2% in the second quarter. IFM Investors Pty Ltd now owns 13,554 shares of the company's stock valued at $4,038,000 after acquiring an additional 287 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Molina Healthcare by 8.9% in the second quarter. Exchange Traded Concepts LLC now owns 3,810 shares of the company's stock valued at $1,135,000 after acquiring an additional 311 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its holdings in Molina Healthcare by 2.4% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 21,600 shares of the company's stock worth $6,435,000 after purchasing an additional 500 shares in the last quarter. Finally, Swedbank AB lifted its position in Molina Healthcare by 6.8% in the second quarter. Swedbank AB now owns 102,176 shares of the company's stock worth $30,438,000 after purchasing an additional 6,484 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on MOH. UBS Group dropped their price objective on Molina Healthcare from $260.00 to $180.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Robert W. Baird cut their price target on shares of Molina Healthcare from $373.00 to $179.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Wall Street Zen cut shares of Molina Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Morgan Stanley downgraded shares of Molina Healthcare from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $364.00 to $266.00 in a report on Thursday, July 10th. Finally, Truist Financial restated a "hold" rating and set a $180.00 target price (down from $335.00) on shares of Molina Healthcare in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $225.18.

Insider Buying and Selling

In other Molina Healthcare news, Director Ronna Romney sold 700 shares of Molina Healthcare stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $153.74, for a total transaction of $107,618.00. Following the completion of the sale, the director owned 17,131 shares of the company's stock, valued at $2,633,719.94. This trade represents a 3.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO James Woys purchased 10,000 shares of the company's stock in a transaction dated Monday, August 4th. The stock was bought at an average cost of $155.94 per share, for a total transaction of $1,559,400.00. Following the completion of the purchase, the chief operating officer directly owned 74,331 shares of the company's stock, valued at $11,591,176.14. The trade was a 15.54% increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

Molina Healthcare Stock Down 0.7%

Shares of Molina Healthcare stock opened at $189.40 on Friday. Molina Healthcare, Inc has a 1 year low of $151.95 and a 1 year high of $359.97. The company has a market cap of $10.27 billion, a P/E ratio of 9.33 and a beta of 0.54. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average price of $171.94 and a 200 day moving average price of $258.22.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share for the quarter, missing analysts' consensus estimates of $5.50 by ($0.02). The business had revenue of $11.43 billion during the quarter, compared to analyst estimates of $10.94 billion. Molina Healthcare had a net margin of 2.60% and a return on equity of 27.72%. Molina Healthcare's revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.86 EPS. As a group, analysts expect that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

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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