Molina Healthcare (NYSE:MOH) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Molina Healthcare (NYSE:MOH) in a research note published on Thursday morning, Benzinga reports. Cantor Fitzgerald currently has a $406.00 target price on the stock.

MOH has been the subject of a number of other research reports. Robert W. Baird cut their price objective on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price target on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. TD Cowen cut their target price 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. Finally, Wells Fargo & Company raised their price target on Molina Healthcare from $315.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $367.00.

Molina Healthcare Price Performance

Shares of NYSE MOH opened at $325.54 on Thursday. The firm has a market cap of $19.08 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 0.99 and a beta of 0.58. The business’s 50 day moving average is $335.23 and its 200-day moving average is $329.72. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. Molina Healthcare has a 1-year low of $272.69 and a 1-year high of $423.92.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, topping the consensus estimate of $5.96 by $0.05. The firm had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $9.92 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the business earned $5.05 EPS. Equities research analysts predict that Molina Healthcare will post 23.5 earnings per share for the current year.

Insider Transactions at Molina Healthcare

In related news, CAO Maurice Hebert sold 393 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 9,473 shares in the company, valued at $3,282,583.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total transaction of $339,210.00. Following the sale, the director now directly owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Maurice Hebert sold 393 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of 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 position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

Hedge funds have recently added to or reduced their stakes in the business. Atlas Capital Advisors LLC raised its stake in shares of Molina Healthcare by 663.0% during the first quarter. Atlas Capital Advisors LLC now owns 412 shares of the company’s stock valued at $169,000 after acquiring an additional 358 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Molina Healthcare by 35.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 2,734 shares of the company’s stock worth $1,123,000 after purchasing an additional 722 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Molina Healthcare by 139.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 64,496 shares of the company’s stock valued at $26,497,000 after purchasing an additional 37,509 shares during the period. First Trust Direct Indexing L.P. raised its position in Molina Healthcare by 11.0% during the 1st quarter. First Trust Direct Indexing L.P. now owns 2,767 shares of the company’s stock worth $1,137,000 after purchasing an additional 275 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new position in Molina Healthcare during the 1st quarter worth about $244,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.