Molina Healthcare (NYSE:MOH) PT Lowered to $351.00

Molina Healthcare (NYSE:MOH) had its price target trimmed by TD Cowen from $412.00 to $351.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on MOH. Wells Fargo & Company dropped their price objective on Molina Healthcare from $375.00 to $315.00 and set an equal weight rating on the stock in a report on Monday, July 22nd. Cantor Fitzgerald reiterated an overweight rating and issued a $406.00 price objective on shares of Molina Healthcare in a report on Tuesday, July 23rd. Bank of America downgraded Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price objective on the stock. in a report on Thursday, March 28th. Barclays dropped their price objective on Molina Healthcare from $437.00 to $430.00 and set an equal weight rating on the stock in a report on Thursday, April 25th. Finally, Stephens reiterated an equal weight rating and issued a $390.00 price objective on shares of Molina Healthcare in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Molina Healthcare presently has a consensus rating of Moderate Buy and a consensus price target of $376.18.

Molina Healthcare Price Performance

Shares of NYSE MOH opened at $335.36 on Wednesday. The stock’s 50-day moving average is $306.95 and its two-hundred day moving average is $353.35. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.49. Molina Healthcare has a 1-year low of $282.96 and a 1-year high of $423.92. The company has a market cap of $19.65 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.13. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The company had revenue of $9.88 billion for the quarter, compared to the consensus estimate of $9.75 billion. During the same quarter in the prior year, the business earned $5.65 EPS. Molina Healthcare’s revenue was up 18.7% on a year-over-year basis. Analysts forecast that Molina Healthcare will post 23.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO James Woys sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the transaction, the chief operating officer now owns 53,613 shares in the company, valued at approximately $18,504,526.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Molina Healthcare news, COO James Woys sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the completion of the sale, the chief operating officer now directly owns 53,613 shares of the company’s stock, valued at approximately $18,504,526.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronna Romney sold 250 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total value of $85,817.50. Following the sale, the director now directly owns 16,945 shares of the company’s stock, valued at $5,816,710.15. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Molina Healthcare

A number of hedge funds have recently added to or reduced their stakes in MOH. Cambiar Investors LLC lifted its holdings in shares of Molina Healthcare by 21.4% in the 2nd quarter. Cambiar Investors LLC now owns 37,366 shares of the company’s stock valued at $11,109,000 after buying an additional 6,594 shares during the period. Kintegral Advisory LLC lifted its holdings in shares of Molina Healthcare by 102.4% in the 2nd quarter. Kintegral Advisory LLC now owns 3,040 shares of the company’s stock valued at $904,000 after buying an additional 1,538 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Molina Healthcare by 8.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 70,187 shares of the company’s stock valued at $20,867,000 after buying an additional 5,691 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Molina Healthcare by 1.8% in the 2nd quarter. State of Michigan Retirement System now owns 16,832 shares of the company’s stock valued at $5,004,000 after buying an additional 300 shares during the period. Finally, EFG Asset Management North America Corp. lifted its holdings in shares of Molina Healthcare by 17.6% in the 2nd quarter. EFG Asset Management North America Corp. now owns 6,401 shares of the company’s stock valued at $1,902,000 after buying an additional 959 shares during the period. 98.50% of the stock is owned by institutional investors and hedge funds.

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.