Exchange Traded Concepts LLC Purchases 231 Shares of Molina Healthcare, Inc. (NYSE:MOH)

Exchange Traded Concepts LLC increased its position in shares of Molina Healthcare, Inc. (NYSE:MOH) by 7.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,360 shares of the company’s stock after buying an additional 231 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Molina Healthcare were worth $978,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MOH. NFJ Investment Group LLC acquired a new position in Molina Healthcare during the 3rd quarter valued at $7,432,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in Molina Healthcare by 406.6% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 21,996 shares of the company’s stock worth $7,579,000 after purchasing an additional 17,654 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Molina Healthcare by 59.9% during the 3rd quarter. Raymond James & Associates now owns 42,298 shares of the company’s stock worth $14,574,000 after purchasing an additional 15,840 shares during the period. Integrated Investment Consultants LLC acquired a new position in shares of Molina Healthcare during the third quarter valued at about $4,716,000. Finally, Citigroup Inc. lifted its stake in shares of Molina Healthcare by 18.8% in the third quarter. Citigroup Inc. now owns 84,770 shares of the company’s stock valued at $29,208,000 after buying an additional 13,387 shares during the period. 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 several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $406.00 price target on shares of Molina Healthcare in a report on Thursday, October 24th. Truist Financial reduced their target price on Molina Healthcare from $400.00 to $370.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $350.00 price objective (down previously from $378.00) on shares of Molina Healthcare in a research note on Tuesday, December 17th. Finally, StockNews.com upgraded shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $359.18.

Molina Healthcare Stock Performance

NYSE MOH opened at $306.93 on Wednesday. Molina Healthcare, Inc. has a 1-year low of $272.69 and a 1-year high of $423.92. The company has a 50 day moving average of $296.51 and a 200-day moving average of $317.66. The company has a current ratio of 1.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 0.94 and a beta of 0.54.

Molina Healthcare Profile

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.