Shares of Molina Healthcare, Inc. (NYSE:MOH – Get Free Report) gapped down prior to trading on Monday after Wells Fargo & Company lowered their price target on the stock from $440.00 to $410.00. The stock had previously closed at $376.57, but opened at $356.77. Wells Fargo & Company currently has an equal weight rating on the stock. Molina Healthcare shares last traded at $359.30, with a volume of 74,260 shares trading hands.
Several other research analysts have also recently commented on MOH. Bank of America cut shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price target for the company. in a report on Thursday, March 28th. UBS Group upped their price target on shares of Molina Healthcare from $350.00 to $380.00 and gave the company a “neutral” rating in a research report on Thursday, December 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, April 4th. Barclays began coverage on shares of Molina Healthcare in a research report on Wednesday, March 6th. They set an “equal weight” rating and a $437.00 price objective for the company. Finally, Truist Financial upped their price objective on shares of Molina Healthcare from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Molina Healthcare currently has a consensus rating of “Hold” and a consensus price target of $393.09.
Insider Activity at Molina Healthcare
In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $384.06, for a total transaction of $273,066.66. Following the sale, the director now directly owns 12,207 shares of the company’s stock, valued at approximately $4,688,220.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Molina Healthcare news, Director Richard M. Schapiro sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total transaction of $401,050.00. Following the sale, the director now directly owns 11,207 shares of the company’s stock, valued at approximately $4,494,567.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Schapiro sold 711 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $384.06, for a total transaction of $273,066.66. Following the sale, the director now directly owns 12,207 shares in the company, valued at $4,688,220.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,711 shares of company stock valued at $6,472,517. Insiders own 1.11% of the company’s stock.
Institutional Investors Weigh In On Molina Healthcare
Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Molina Healthcare by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 6,585,954 shares of the company’s stock worth $2,379,571,000 after acquiring an additional 23,715 shares during the last quarter. Capital World Investors boosted its position in shares of Molina Healthcare by 0.3% in the fourth quarter. Capital World Investors now owns 5,490,147 shares of the company’s stock worth $1,983,645,000 after acquiring an additional 14,775 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Molina Healthcare by 1.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,154,404 shares of the company’s stock worth $1,501,029,000 after acquiring an additional 70,119 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Molina Healthcare by 12.8% in the fourth quarter. Wellington Management Group LLP now owns 3,831,100 shares of the company’s stock worth $1,384,215,000 after acquiring an additional 436,060 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Molina Healthcare by 25.6% in the first quarter. State Street Corp now owns 2,457,008 shares of the company’s stock worth $819,633,000 after acquiring an additional 501,107 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.
Molina Healthcare Price Performance
The company’s 50-day moving average is $395.00 and its 200-day moving average is $370.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.06 and a beta of 0.47.
Molina Healthcare (NYSE:MOH – Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.31 by $0.07. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $8.35 billion. During the same quarter last year, the firm posted $4.10 earnings per share. Molina Healthcare’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts expect that Molina Healthcare, Inc. will post 23.62 earnings per share for the current year.
Molina Healthcare Company 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.