Hohimer Wealth Management LLC Makes New $640,000 Investment in Molina Healthcare, Inc $MOH

Hohimer Wealth Management LLC bought a new position in shares of Molina Healthcare, Inc (NYSE:MOH) during the 3rd quarter, Holdings Channel reports. The firm bought 3,382 shares of the company’s stock, valued at approximately $640,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Molina Healthcare during the 2nd quarter worth about $1,503,052,000. Wellington Management Group LLP raised its stake in shares of Molina Healthcare by 11.9% in the second quarter. Wellington Management Group LLP now owns 1,267,207 shares of the company’s stock worth $289,810,000 after acquiring an additional 135,247 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Molina Healthcare by 23.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,394,882 shares of the company’s stock worth $185,929,000 after acquiring an additional 267,121 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Molina Healthcare in the second quarter worth about $152,339,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Molina Healthcare in the second quarter worth about $86,138,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Molina Healthcare Stock Down 2.8%

Shares of NYSE:MOH opened at $203.23 on Tuesday. Molina Healthcare, Inc has a one year low of $121.06 and a one year high of $244.89. The company has a 50 day moving average of $202.02 and a 200-day moving average of $185.45. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.69 and a quick ratio of 1.69. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of -211.69, a P/E/G ratio of 13.36 and a beta of 0.75.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Molina Healthcare had a negative net margin of 0.11% and a positive return on equity of 2.50%. The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $10.86 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. Molina Healthcare’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, sell-side analysts forecast that Molina Healthcare, Inc will post 5.30 earnings per share for the current year.

Analysts Set New Price Targets

MOH has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $163.00 price target on shares of Molina Healthcare in a research note on Monday, October 26th. Barclays dropped their price objective on shares of Molina Healthcare from $180.00 to $178.00 and set an “underweight” rating for the company in a research report on Friday, October 23rd. Jefferies Financial Group reaffirmed a “hold” rating and set a $220.00 price objective on shares of Molina Healthcare in a report on Friday, October 23rd. Weiss Ratings raised Molina Healthcare from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, October 21st. Finally, Mizuho set a $255.00 price objective on Molina Healthcare in a research report on Friday, October 23rd. Three investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Molina Healthcare presently has an average rating of “Hold” and an average target price of $213.88.

Molina Healthcare Profile

Molina Healthcare, Inc is a managed care company that provides health insurance plans primarily to people covered by government-sponsored programs. Its offerings include Medicaid plans, Medicare plans for eligible individuals and dual-eligible members, and health plans sold through government marketplaces under the Affordable Care Act.

The company was founded in 1980 by physician C. David Molina in Long Beach, California, initially serving low-income families through community clinics.