Molina Healthcare, Inc. (NYSE:MOH – Get Rating) was down 3.5% during mid-day trading on Thursday after Bank of America downgraded the stock from a buy rating to an underperform rating. Bank of America now has a $335.00 price target on the stock, down from their previous price target of $355.00. Molina Healthcare traded as low as $300.43 and last traded at $303.66. Approximately 2,831 shares traded hands during trading, a decline of 99% from the average daily volume of 529,892 shares. The stock had previously closed at $314.68.
Several other equities analysts have also recently commented on MOH. Truist Financial lifted their target price on shares of Molina Healthcare from $360.00 to $390.00 in a research report on Thursday, April 7th. Cowen boosted their target price on shares of Molina Healthcare from $356.00 to $366.00 in a research note on Monday, May 2nd. BMO Capital Markets lifted their price target on shares of Molina Healthcare from $365.00 to $380.00 and gave the stock an “outperform” rating in a report on Monday, February 14th. StockNews.com assumed coverage on shares of Molina Healthcare in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Finally, Cowen raised their price objective on shares of Molina Healthcare from $356.00 to $366.00 in a report on Monday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $337.23.
In other Molina Healthcare news, Director Ronna Romney sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $314.36, for a total transaction of $62,872.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven J. Orlando sold 591 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The shares were sold at an average price of $311.00, for a total value of $183,801.00. The disclosure for this sale can be found here. Insiders sold a total of 5,991 shares of company stock worth $1,883,261 in the last 90 days. 1.49% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Molina Healthcare by 18.4% during the first quarter. Vanguard Group Inc. now owns 6,449,375 shares of the company’s stock valued at $2,151,448,000 after buying an additional 1,001,372 shares during the last quarter. Capital World Investors boosted its stake in shares of Molina Healthcare by 1.1% during the first quarter. Capital World Investors now owns 5,399,092 shares of the company’s stock valued at $1,801,083,000 after purchasing an additional 60,066 shares during the period. BlackRock Inc. increased its stake in Molina Healthcare by 0.9% in the 4th quarter. BlackRock Inc. now owns 5,343,327 shares of the company’s stock worth $1,699,606,000 after buying an additional 45,382 shares during the period. Wellington Management Group LLP lifted its holdings in Molina Healthcare by 6.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,054,910 shares of the company’s stock valued at $828,829,000 after buying an additional 176,165 shares in the last quarter. Finally, State Street Corp grew its stake in 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 purchasing an additional 501,107 shares in the last quarter. 94.82% of the stock is owned by institutional investors.
The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.44 and a current ratio of 1.44. The company has a fifty day simple moving average of $323.68 and a two-hundred day simple moving average of $310.23. The firm has a market capitalization of $17.73 billion, a PE ratio of 26.78, a PEG ratio of 1.10 and a beta of 0.80.
Molina Healthcare (NYSE:MOH – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.16. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.54 billion. Molina Healthcare had a net margin of 2.37% and a return on equity of 31.85%. During the same period last year, the company posted $4.44 earnings per share. On average, equities analysts anticipate that Molina Healthcare, Inc. will post 17.14 earnings per share for the current fiscal year.
About Molina Healthcare (NYSE:MOH)
Molina Healthcare, Inc provides managed health care 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. As of December 31, 2021, the company served the company served approximately 5.2 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs in 18 states.