Molina Healthcare (NYSE:MOH) Earns Hold Rating from Truist Financial

Molina Healthcare (NYSE:MOH)‘s stock had its “hold” rating restated by research analysts at Truist Financial in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $180.00 target price on the stock, down from their prior target price of $335.00. Truist Financial’s target price indicates a potential upside of 9.11% from the company’s previous close.

A number of other brokerages have also weighed in on MOH. Morgan Stanley lowered Molina Healthcare from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $364.00 to $266.00 in a report on Thursday, July 10th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $210.00 price target (down previously from $312.00) on shares of Molina Healthcare in a report on Friday. Baird R W downgraded shares of Molina Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Wall Street Zen lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. Finally, Sanford C. Bernstein started coverage on Molina Healthcare in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $414.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Molina Healthcare currently has a consensus rating of “Hold” and an average target price of $267.42.

Molina Healthcare Stock Performance

MOH stock traded up $6.75 during trading on Friday, hitting $164.97. The company had a trading volume of 4,892,162 shares, compared to its average volume of 1,704,853. Molina Healthcare has a 1-year low of $156.36 and a 1-year high of $365.23. The firm has a 50-day moving average price of $267.38 and a 200-day moving average price of $296.17. The company has a quick ratio of 1.63, a current ratio of 1.66 and a debt-to-equity ratio of 0.77. The firm has a market cap of $8.94 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 1.18 and a beta of 0.55.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.50 by ($0.02). Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%. The firm had revenue of $11.43 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the prior year, the company earned $5.86 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, analysts expect that Molina Healthcare will post 24.4 earnings per share for the current year.

Insider Activity

In related news, Director Richard M. Schapiro sold 669 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 11,244 shares of the company’s stock, valued at approximately $3,603,702. This represents a 5.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joseph M. Zubretsky sold 87,500 shares of Molina Healthcare stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total transaction of $28,005,250.00. Following the completion of the sale, the chief executive officer directly owned 257,715 shares of the company’s stock, valued at $82,484,262.90. The trade was a 25.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

Several hedge funds have recently made changes to their positions in the business. Rothschild Investment LLC increased its position in Molina Healthcare by 126.3% during the 1st quarter. Rothschild Investment LLC now owns 86 shares of the company’s stock worth $28,000 after purchasing an additional 48 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Molina Healthcare in the 1st quarter valued at $29,000. Colonial Trust Co SC lifted its holdings in shares of Molina Healthcare by 930.0% during the 4th quarter. Colonial Trust Co SC now owns 103 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in Molina Healthcare by 60.7% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 90 shares of the company’s stock worth $30,000 after purchasing an additional 34 shares during the period. Finally, Elequin Capital LP increased its holdings in Molina Healthcare by 170.6% in the 1st quarter. Elequin Capital LP now owns 92 shares of the company’s stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds 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.