Molina Healthcare (NYSE:MOH) Price Target Raised to $400.00

Molina Healthcare (NYSE:MOH) had its price objective boosted by Truist Financial from $340.00 to $400.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on MOH. Guggenheim started coverage on Molina Healthcare in a report on Wednesday, April 9th. They set a “neutral” rating on the stock. UBS Group reduced their price objective on shares of Molina Healthcare from $374.00 to $325.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. StockNews.com raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday. Stephens reissued an “equal weight” rating and set a $345.00 price target on shares of Molina Healthcare in a research report on Thursday, February 6th. Finally, Mizuho upped their price objective on shares of Molina Healthcare from $376.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $355.75.

Molina Healthcare Price Performance

Molina Healthcare stock opened at $345.30 on Friday. The business’s fifty day moving average is $310.39 and its two-hundred day moving average is $307.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market cap of $18.89 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.06 and a beta of 0.70. Molina Healthcare has a 52 week low of $262.32 and a 52 week high of $373.22.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. Equities research analysts forecast that Molina Healthcare will post 24.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.33, for a total value of $301,330.00. Following the sale, the director now directly owns 17,375 shares in the company, valued at approximately $5,235,608.75. The trade was a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Molina Healthcare

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in Molina Healthcare by 74,593.7% during the first quarter. GAMMA Investing LLC now owns 667,015 shares of the company’s stock valued at $219,708,000 after purchasing an additional 666,122 shares during the last quarter. Norges Bank bought a new stake in shares of Molina Healthcare during the 4th quarter worth approximately $134,675,000. FMR LLC boosted its holdings in shares of Molina Healthcare by 31.1% in the 4th quarter. FMR LLC now owns 1,801,113 shares of the company’s stock valued at $524,214,000 after buying an additional 427,276 shares during the last quarter. Voloridge Investment Management LLC grew its stake in shares of Molina Healthcare by 1,641.3% in the fourth quarter. Voloridge Investment Management LLC now owns 409,807 shares of the company’s stock valued at $119,274,000 after buying an additional 386,273 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Molina Healthcare by 28.5% during the fourth quarter. Invesco Ltd. now owns 1,327,021 shares of the company’s stock worth $386,229,000 after buying an additional 294,180 shares during the last quarter. Institutional investors 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.