Viking Global Investors LP reduced its holdings in Molina Healthcare, Inc. (NYSE:MOH) by 14.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,672,822 shares of the company’s stock after selling 274,385 shares during the quarter. Viking Global Investors LP’s holdings in Molina Healthcare were worth $128,272,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. New Mexico Educational Retirement Board bought a new position in Molina Healthcare in the 4th quarter worth about $838,000. Cambridge Investment Research Advisors Inc. increased its stake in Molina Healthcare by 33.9% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,958 shares of the company’s stock worth $616,000 after acquiring an additional 2,266 shares during the last quarter. Boston Advisors LLC bought a new position in Molina Healthcare in the 4th quarter worth about $1,318,000. Jana Partners LLC increased its stake in Molina Healthcare by 52.5% in the 3rd quarter. Jana Partners LLC now owns 2,125,351 shares of the company’s stock worth $146,139,000 after acquiring an additional 731,992 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new position in Molina Healthcare in the 4th quarter worth about $1,190,000. Institutional investors and hedge funds own 96.22% of the company’s stock.
A number of equities analysts have weighed in on MOH shares. Goldman Sachs Group started coverage on Molina Healthcare in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $83.00 target price on the stock. ValuEngine lowered Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. JPMorgan Chase & Co. decreased their target price on Molina Healthcare from $103.00 to $91.00 and set an “overweight” rating on the stock in a research note on Thursday, February 15th. Zacks Investment Research upgraded Molina Healthcare from a “hold” rating to a “strong-buy” rating and set a $88.00 target price on the stock in a research note on Tuesday, January 2nd. Finally, Leerink Swann increased their price objective on Molina Healthcare from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $73.73.
In related news, insider William Dentino sold 67,500 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $74.24, for a total transaction of $5,011,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Terry Bayer sold 2,804 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $91.63, for a total value of $256,930.52. Following the sale, the chief operating officer now owns 70,092 shares of the company’s stock, valued at $6,422,529.96. The disclosure for this sale can be found here. Insiders have sold a total of 718,265 shares of company stock worth $56,791,988 over the last quarter. Corporate insiders own 6.20% of the company’s stock.
Molina Healthcare, Inc. (MOH) opened at $75.49 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $4,508.79, a PE ratio of -8.37, a PEG ratio of 1.34 and a beta of 1.28. Molina Healthcare, Inc. has a 1 year low of $42.56 and a 1 year high of $93.98.
WARNING: This report was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another domain, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/03/11/molina-healthcare-inc-moh-shares-sold-by-viking-global-investors-lp.html.
Molina Healthcare Company Profile
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
Want to see what other hedge funds are holding MOH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molina Healthcare, Inc. (NYSE:MOH).
Receive News & Ratings for Molina Healthcare Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molina Healthcare and related companies with MarketBeat.com's FREE daily email newsletter.