Molina Healthcare, Inc. (NYSE:MOH) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,765 shares of the company’s stock after purchasing an additional 228 shares during the quarter. CIBC Asset Management Inc’s holdings in Molina Healthcare were worth $2,551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Creative Planning lifted its holdings in shares of Molina Healthcare by 2.7% in the third quarter. Creative Planning now owns 8,454 shares of the company’s stock valued at $2,913,000 after purchasing an additional 226 shares in the last quarter. Blue Trust Inc. grew its holdings in Molina Healthcare by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 479 shares of the company’s stock valued at $165,000 after buying an additional 220 shares during the last quarter. Raymond James & Associates increased its position in Molina Healthcare by 59.9% during the third quarter. Raymond James & Associates now owns 42,298 shares of the company’s stock worth $14,574,000 after buying an additional 15,840 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Molina Healthcare by 11.6% in the third quarter. Sequoia Financial Advisors LLC now owns 1,195 shares of the company’s stock worth $412,000 after acquiring an additional 124 shares during the last quarter. Finally, Private Advisor Group LLC purchased a new stake in shares of Molina Healthcare in the third quarter valued at $215,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Molina Healthcare Trading Down 2.6 %

NYSE MOH opened at $283.89 on Friday. The company’s fifty day simple moving average is $293.21 and its 200-day simple moving average is $314.41. The stock has a market cap of $15.76 billion, a P/E ratio of 13.90, a PEG ratio of 1.05 and a beta of 0.54. Molina Healthcare, Inc. has a 52 week low of $262.32 and a 52 week high of $423.92. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. Equities research analysts predict that Molina Healthcare, Inc. will post 24.37 EPS for the current fiscal year.

Analyst Ratings Changes

MOH has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $350.00 price target (down from $378.00) on shares of Molina Healthcare in a report on Tuesday, December 17th. Stephens reissued an “equal weight” rating and issued a $345.00 target price on shares of Molina Healthcare in a research report on Thursday, February 6th. Barclays dropped their price target on shares of Molina Healthcare from $372.00 to $339.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. StockNews.com cut shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 8th. Finally, Truist Financial cut their target price on Molina Healthcare from $370.00 to $340.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $353.17.

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.