Molina Healthcare (NYSE:MOH) Shares Down 4.2% After Analyst Downgrade

Molina Healthcare, Inc (NYSE:MOH) was down 4.2% during mid-day trading on Thursday after Truist Financial lowered their price target on the stock from $400.00 to $335.00. Truist Financial currently has a buy rating on the stock. Molina Healthcare traded as low as $200.63 and last traded at $206.91. Approximately 374,737 shares were traded during trading, a decline of 48% from the average daily volume of 721,640 shares. The stock had previously closed at $216.06.

Other equities analysts have also recently issued reports about the stock. Sanford C. Bernstein assumed coverage on shares of Molina Healthcare in a research report on Tuesday, April 22nd. They issued an “outperform” rating and a $414.00 target price for the company. Robert W. Baird reiterated a “neutral” rating and set a $375.00 price objective (up from $331.00) on shares of Molina Healthcare in a research report on Tuesday, April 15th. Wall Street Zen cut shares of Molina Healthcare from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. Mizuho set a $330.00 price target on Molina Healthcare and gave the company an “outperform” rating in a research note on Friday, July 11th. Finally, Guggenheim initiated coverage on Molina Healthcare in a research note on Wednesday, April 9th. They issued a “neutral” rating for the company. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $347.57.

Insider Buying and Selling at Molina Healthcare

In related news, CEO Joseph M. Zubretsky sold 87,500 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $320.06, for a total transaction of $28,005,250.00. Following the transaction, the chief executive officer directly owned 257,715 shares of the company’s stock, valued at $82,484,262.90. This represents a 25.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard M. Schapiro sold 669 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $320.50, for a total transaction of $214,414.50. Following the completion of the transaction, the director directly owned 11,244 shares in the company, valued at $3,603,702. This trade represents a 5.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MOH. Rothschild Investment LLC raised its holdings in shares of Molina Healthcare by 126.3% in the first quarter. Rothschild Investment LLC now owns 86 shares of the company’s stock valued at $28,000 after purchasing an additional 48 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Molina Healthcare during the first quarter worth about $29,000. Colonial Trust Co SC increased its holdings in Molina Healthcare by 930.0% during the fourth quarter. Colonial Trust Co SC now owns 103 shares of the company’s stock worth $30,000 after buying an additional 93 shares during the last quarter. Deseret Mutual Benefit Administrators increased its holdings in Molina Healthcare by 60.7% during the first quarter. Deseret Mutual Benefit Administrators now owns 90 shares of the company’s stock worth $30,000 after buying an additional 34 shares during the last quarter. Finally, Elequin Capital LP increased its holdings in Molina Healthcare by 170.6% during the first quarter. Elequin Capital LP now owns 92 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

Molina Healthcare Price Performance

The business’s fifty day moving average is $284.56 and its 200-day moving average is $301.05. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market cap of $11.07 billion, a PE ratio of 9.86, a P/E/G ratio of 0.90 and a beta of 0.55.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, April 23rd. The company reported $6.08 earnings per share for the quarter, topping analysts’ consensus estimates of $5.96 by $0.12. The firm had revenue of $11.15 billion during the quarter, compared to analyst estimates of $10.86 billion. Molina Healthcare had a net margin of 2.81% and a return on equity of 28.38%. The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business earned $5.73 earnings per share. On average, research analysts predict that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

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.