Citigroup Inc. Purchases 13,387 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Citigroup Inc. lifted its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 18.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 84,770 shares of the company’s stock after purchasing an additional 13,387 shares during the quarter. Citigroup Inc.’s holdings in Molina Healthcare were worth $29,208,000 as of its most recent SEC filing.

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

Molina Healthcare Stock Up 2.5 %

Molina Healthcare stock opened at $298.10 on Tuesday. Molina Healthcare, Inc. has a twelve month low of $272.69 and a twelve month high of $423.92. The stock has a market cap of $17.05 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.00 and a beta of 0.59. The company’s 50-day moving average price is $323.09 and its two-hundred day moving average price is $323.71. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.53.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, topping the consensus estimate of $5.96 by $0.05. The business had revenue of $10.34 billion during the quarter, compared to analysts’ expectations of $9.92 billion. Molina Healthcare had a return on equity of 27.88% and a net margin of 2.92%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the firm posted $5.05 EPS. As a group, analysts expect that Molina Healthcare, Inc. will post 23.44 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird lowered their target price on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays upped their price objective on Molina Healthcare from $359.00 to $372.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. StockNews.com raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Molina Healthcare presently has an average rating of “Moderate Buy” and an average target price of $367.17.

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.