Bank of America Lowers Molina Healthcare (NYSE:MOH) to Underperform

Molina Healthcare (NYSE:MOHGet Rating) was downgraded by investment analysts at Bank of America from a “buy” rating to an “underperform” rating in a report issued on Thursday, The Fly reports.

A number of other analysts have also commented on the company. Wells Fargo & Company lowered their price objective on Molina Healthcare from $308.00 to $301.00 and set an “underweight” rating for the company in a research report on Wednesday. Morgan Stanley decreased their target price on Molina Healthcare from $397.00 to $365.00 and set an “overweight” rating for the company in a research report on Tuesday, February 22nd. StockNews.com started coverage on Molina Healthcare in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company. Truist Financial boosted their target price on Molina Healthcare from $360.00 to $390.00 in a research report on Thursday, April 7th. Finally, Mizuho boosted their price objective on Molina Healthcare from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Friday, February 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Molina Healthcare presently has an average rating of “Buy” and an average target price of $337.40.

Shares of MOH stock opened at $314.68 on Thursday. The stock has a 50-day moving average price of $323.68 and a 200 day moving average price of $310.23. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.86. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.10 and a beta of 0.80. Molina Healthcare has a 12 month low of $239.20 and a 12 month high of $350.19.

Molina Healthcare (NYSE:MOHGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The company reported $4.90 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.16. The firm had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.54 billion. Molina Healthcare had a return on equity of 31.85% and a net margin of 2.37%. During the same period last year, the company earned $4.44 earnings per share. Sell-side analysts predict that Molina Healthcare will post 17.14 earnings per share for the current fiscal year.

In related news, Director Ronna Romney sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, March 15th. The stock was sold at an average price of $314.36, for a total transaction of $62,872.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven J. Orlando sold 591 shares of the business’s stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $311.00, for a total value of $183,801.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,991 shares of company stock worth $1,883,261. Company insiders own 1.49% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC acquired a new stake in shares of Molina Healthcare during the 4th quarter worth $38,143,000. UBS Group AG lifted its position in shares of Molina Healthcare by 231.3% during the 3rd quarter. UBS Group AG now owns 43,013 shares of the company’s stock worth $11,669,000 after buying an additional 30,029 shares during the last quarter. Tealwood Asset Management Inc. bought a new stake in shares of Molina Healthcare during the 3rd quarter worth $1,587,000. Victory Capital Management Inc. lifted its position in shares of Molina Healthcare by 0.8% during the 4th quarter. Victory Capital Management Inc. now owns 580,060 shares of the company’s stock worth $184,506,000 after buying an additional 4,684 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Molina Healthcare by 8.5% during the 4th quarter. Bank of America Corp DE now owns 284,533 shares of the company’s stock worth $90,504,000 after buying an additional 22,347 shares during the last quarter. 94.82% of the stock is currently owned by institutional investors.

About Molina Healthcare (Get Rating)

Molina Healthcare, Inc provides managed health care 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. As of December 31, 2021, the company served the company served approximately 5.2 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs in 18 states.

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