Scion Asset Management LLC Invests $23.92 Million in Molina Healthcare, Inc $MOH

Scion Asset Management LLC acquired a new stake in Molina Healthcare, Inc (NYSE:MOH) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 125,000 shares of the company’s stock, valued at approximately $23,920,000. Molina Healthcare makes up approximately 1.7% of Scion Asset Management LLC’s portfolio, making the stock its 3rd biggest holding.

A number of other institutional investors also recently modified their holdings of MOH. Invesco Ltd. increased its holdings in shares of Molina Healthcare by 25.9% in the second quarter. Invesco Ltd. now owns 1,601,574 shares of the company’s stock valued at $477,109,000 after purchasing an additional 329,759 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Molina Healthcare by 4.6% during the second quarter. AQR Capital Management LLC now owns 925,672 shares of the company’s stock valued at $273,096,000 after acquiring an additional 40,714 shares during the period. Norges Bank acquired a new stake in Molina Healthcare in the second quarter worth about $212,113,000. Charles Schwab Investment Management Inc. raised its holdings in Molina Healthcare by 0.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 419,457 shares of the company’s stock worth $124,956,000 after purchasing an additional 3,216 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Molina Healthcare by 8.5% in the second quarter. Bank of New York Mellon Corp now owns 364,716 shares of the company’s stock valued at $108,649,000 after buying an additional 28,562 shares during the period. 98.50% of the stock is owned by institutional investors.

Molina Healthcare Price Performance

Shares of MOH opened at $184.74 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $10.01 billion, a PE ratio of 11.44 and a beta of 0.49. The stock has a 50 day simple moving average of $170.23 and a 200 day simple moving average of $172.18. Molina Healthcare, Inc has a 52-week low of $133.40 and a 52-week high of $359.97.

Insiders Place Their Bets

In other news, Director Richard M. Schapiro sold 357 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $143.02, for a total transaction of $51,058.14. Following the completion of the transaction, the director directly owned 11,352 shares of the company’s stock, valued at $1,623,563.04. This trade represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MOH has been the subject of several recent research reports. Wells Fargo & Company upped their target price on shares of Molina Healthcare from $165.00 to $208.00 and gave the company an “overweight” rating in a research report on Wednesday, January 7th. Jefferies Financial Group set a $160.00 target price on Molina Healthcare in a research note on Tuesday, December 16th. Truist Financial set a $175.00 target price on Molina Healthcare in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft set a $165.00 price target on shares of Molina Healthcare in a research report on Friday, October 24th. Finally, TD Cowen downgraded shares of Molina Healthcare from a “buy” rating to a “hold” rating and set a $203.00 target price for the company. in a research note on Thursday, October 16th. Three investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $193.47.

About Molina Healthcare

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.