Lord Abbett & CO. LLC Sells 13,421 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Lord Abbett & CO. LLC decreased its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 279,477 shares of the company’s stock after selling 13,421 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Molina Healthcare were worth $96,297,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MOH. State Street Corp raised its position in shares of Molina Healthcare by 0.5% in the 3rd quarter. State Street Corp now owns 2,614,311 shares of the company’s stock valued at $900,787,000 after buying an additional 13,001 shares in the last quarter. Renaissance Technologies LLC raised its position in Molina Healthcare by 13.3% during the second quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock valued at $282,343,000 after purchasing an additional 111,154 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Molina Healthcare by 22.0% during the second quarter. Dimensional Fund Advisors LP now owns 470,932 shares of the company’s stock worth $140,026,000 after purchasing an additional 84,929 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Molina Healthcare by 36.2% in the 2nd quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock valued at $137,810,000 after purchasing an additional 123,121 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Molina Healthcare by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 390,078 shares of the company’s stock valued at $134,405,000 after purchasing an additional 10,030 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MOH has been the subject of a number of research analyst reports. Robert W. Baird lowered their price target on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research report on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of Molina Healthcare from $360.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. StockNews.com raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Barclays upped their price objective on shares of Molina Healthcare from $359.00 to $372.00 and gave the stock an “equal weight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $367.17.

Molina Healthcare Trading Up 2.0 %

MOH opened at $303.01 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.54 and a quick ratio of 1.55. Molina Healthcare, Inc. has a fifty-two week low of $272.69 and a fifty-two week high of $423.92. The company’s 50 day moving average price is $309.90 and its two-hundred day moving average price is $319.40. The firm has a market capitalization of $17.33 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.03 and a beta of 0.54.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data 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 company had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $9.92 billion. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. Molina Healthcare’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.05 earnings per share. As a group, research analysts predict that Molina Healthcare, Inc. will post 23.44 earnings per share for the current 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.