Molina Healthcare (NYSE:MOH) Price Target Cut to $351.00

Molina Healthcare (NYSE:MOH) had its price target lowered by research analysts at TD Cowen from $412.00 to $351.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target would indicate a potential upside of 8.25% from the stock’s current price.

Other research analysts have also issued reports about the stock. Bank of America lowered shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price target on the stock. in a research report on Thursday, March 28th. Stephens restated an “equal weight” rating and issued a $390.00 target price on shares of Molina Healthcare in a research note on Thursday, April 25th. Wells Fargo & Company decreased their price target on Molina Healthcare from $375.00 to $315.00 and set an “equal weight” rating for the company in a research report on Monday. JPMorgan Chase & Co. cut their price objective on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Baird R W raised Molina Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. One 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $376.18.

Molina Healthcare Stock Performance

Shares of Molina Healthcare stock opened at $324.25 on Wednesday. Molina Healthcare has a 52 week low of $282.96 and a 52 week high of $423.92. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average price of $307.61 and a 200-day moving average price of $353.85. The company has a market cap of $19.00 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.73 by $0.13. Molina Healthcare had a return on equity of 29.17% and a net margin of 2.84%. The business had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.75 billion. During the same quarter in the prior year, the company posted $5.65 earnings per share. Molina Healthcare’s revenue was up 18.7% compared to the same quarter last year. Equities analysts anticipate that Molina Healthcare will post 23.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronna Romney sold 250 shares of Molina Healthcare stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total value of $85,817.50. Following the completion of the transaction, the director now owns 16,945 shares in the company, valued at $5,816,710.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Molina Healthcare news, COO James Woys sold 10,000 shares of the stock in a transaction 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 sale, the chief operating officer now owns 53,613 shares in the company, valued at $18,504,526.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ronna Romney sold 250 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total value of $85,817.50. Following the sale, the director now owns 16,945 shares in the company, valued at $5,816,710.15. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Molina Healthcare

Several hedge funds have recently bought and sold shares of the company. EFG Asset Management North America Corp. boosted its holdings in 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 purchasing an additional 959 shares during the period. Overbrook Management Corp lifted its position in Molina Healthcare by 14.5% in the 2nd quarter. Overbrook Management Corp now owns 29,784 shares of the company’s stock worth $8,855,000 after buying an additional 3,777 shares during the last quarter. Clear Creek Financial Management LLC boosted its stake in Molina Healthcare by 9.0% in the second quarter. Clear Creek Financial Management LLC now owns 1,594 shares of the company’s stock worth $474,000 after buying an additional 132 shares in the last quarter. Argent Capital Management LLC grew its position in Molina Healthcare by 1.8% during the second quarter. Argent Capital Management LLC now owns 8,580 shares of the company’s stock valued at $2,551,000 after acquiring an additional 155 shares during the last quarter. Finally, Retirement Systems of Alabama raised its stake in shares of Molina Healthcare by 1.0% during the second quarter. Retirement Systems of Alabama now owns 12,926 shares of the company’s stock worth $3,843,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.