Wells Fargo & Company Cuts Molina Healthcare (NYSE:MOH) Price Target to $315.00

Molina Healthcare (NYSE:MOH) had its price objective cut by Wells Fargo & Company from $375.00 to $315.00 in a report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

MOH has been the topic of several other research reports. Robert W. Baird started coverage on shares of Molina Healthcare in a report on Thursday, May 30th. They set an outperform rating and a $405.00 price objective on the stock. Bank of America downgraded shares of Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price target on the stock. in a report on Thursday, March 28th. JPMorgan Chase & Co. cut their price target on shares of Molina Healthcare from $420.00 to $395.00 and set an overweight rating on the stock in a report on Wednesday, July 10th. Cantor Fitzgerald reiterated an overweight rating and issued a $406.00 price target on shares of Molina Healthcare in a report on Thursday, April 4th. Finally, Barclays cut their price target on shares of Molina Healthcare from $437.00 to $430.00 and set an equal weight rating on the stock in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $382.55.

Molina Healthcare Trading Up 0.7 %

NYSE MOH opened at $288.96 on Monday. The company’s 50-day moving average price is $308.75 and its 200-day moving average price is $354.31. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The stock has a market cap of $16.93 billion, a PE ratio of 15.68, a PEG ratio of 0.89 and a beta of 0.58. Molina Healthcare has a 12 month low of $282.96 and a 12 month high of $423.92.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $5.77 by $0.09. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. The company had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.75 billion. During the same period in the prior year, the firm earned $5.65 earnings per share. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts forecast that Molina Healthcare will post 23.56 earnings per share for the current year.

Insider Transactions at Molina Healthcare

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

Hedge Funds Weigh In On Molina Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the business. McIlrath & Eck LLC purchased a new stake in Molina Healthcare during the 4th quarter worth $34,000. Principal Securities Inc. purchased a new stake in Molina Healthcare during the 4th quarter worth $42,000. Friedenthal Financial purchased a new stake in Molina Healthcare during the 4th quarter worth $43,000. Householder Group Estate & Retirement Specialist LLC increased its stake in Molina Healthcare by 3,933.3% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 121 shares of the company’s stock worth $43,000 after buying an additional 118 shares during the period. Finally, Allworth Financial LP increased its stake in Molina Healthcare by 80.0% during the 4th quarter. Allworth Financial LP now owns 135 shares of the company’s stock worth $49,000 after buying an additional 60 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.