Wells Fargo & Company Increases Molina Healthcare (NYSE:MOH) Price Target to $362.00

Molina Healthcare (NYSE:MOH) had its price target lifted by Wells Fargo & Company from $360.00 to $362.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, October 24th. TD Cowen decreased their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Robert W. Baird dropped their target price on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Molina Healthcare from a “hold” rating to a “buy” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $367.17.

Molina Healthcare Stock Performance

Shares of NYSE MOH opened at $337.69 on Monday. Molina Healthcare has a 52-week low of $272.69 and a 52-week high of $423.92. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.14 and a beta of 0.59. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.53. The stock’s fifty day simple moving average is $331.37 and its 200 day simple moving average is $327.45.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.96 by $0.05. Molina Healthcare had a return on equity of 27.88% and a net margin of 2.92%. The firm had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter in the previous year, the company earned $5.05 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Molina Healthcare will post 23.44 earnings per share for the current fiscal year.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction of $136,182.36. Following the transaction, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at $3,282,583.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Molina Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its holdings in Molina Healthcare by 0.9% in the 1st quarter. Capital International Investors now owns 1,665,801 shares of the company’s stock worth $684,361,000 after acquiring an additional 15,264 shares during the period. Renaissance Technologies LLC increased its stake in shares of Molina Healthcare by 13.3% in the second quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock worth $282,343,000 after purchasing an additional 111,154 shares during the period. Boston Partners increased its stake in shares of Molina Healthcare by 14.8% in the first quarter. Boston Partners now owns 798,950 shares of the company’s stock worth $328,101,000 after purchasing an additional 103,245 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Molina Healthcare by 22.0% during the 2nd 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. Finally, AQR Capital Management LLC boosted its stake in Molina Healthcare by 36.2% during 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 during the period. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.