CIBC Asset Management Inc Raises Stake in Molina Healthcare, Inc. (NYSE:MOH)

CIBC Asset Management Inc raised its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,537 shares of the company’s stock after purchasing an additional 652 shares during the period. CIBC Asset Management Inc’s holdings in Molina Healthcare were worth $2,942,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MOH. Innealta Capital LLC bought a new stake in shares of Molina Healthcare during the 2nd quarter worth $36,000. Ashton Thomas Private Wealth LLC bought a new stake in Molina Healthcare during the 2nd quarter valued at $40,000. Capital Performance Advisors LLP bought a new stake in Molina Healthcare in the 3rd quarter worth $62,000. AM Squared Ltd bought a new position in shares of Molina Healthcare during the second quarter valued at about $59,000. Finally, UMB Bank n.a. boosted its holdings in shares of Molina Healthcare by 96.2% during the third quarter. UMB Bank n.a. now owns 206 shares of the company’s stock worth $71,000 after purchasing an additional 101 shares during the period. Institutional investors own 98.50% of the company’s stock.

Analysts Set New Price Targets

MOH has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on shares of Molina Healthcare from $360.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. TD Cowen lowered their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Stephens reiterated an “equal weight” rating and issued a $320.00 price target on shares of Molina Healthcare in a research note on Thursday, July 25th. Robert W. Baird lowered their target price on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $367.17.

Molina Healthcare Stock Performance

Shares of NYSE:MOH opened at $292.19 on Tuesday. Molina Healthcare, Inc. has a 52 week low of $272.69 and a 52 week high of $423.92. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $328.20 and a two-hundred day simple moving average of $325.54. The stock has a market capitalization of $16.71 billion, a P/E ratio of 14.84, a PEG ratio of 1.01 and a beta of 0.59.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, topping analysts’ consensus estimates of $5.96 by $0.05. The company had revenue of $10.34 billion for the quarter, compared to analyst estimates of $9.92 billion. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.05 EPS. On average, analysts expect that Molina Healthcare, Inc. will post 23.44 earnings per share 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.