Sanford C. Bernstein Cuts Molina Healthcare (NYSE:MOH) Price Target to $220.00

Molina Healthcare (NYSE:MOH) had its target price reduced by Sanford C. Bernstein from $284.00 to $220.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

MOH has been the subject of several other reports. JPMorgan Chase & Co. lowered their target price on shares of Molina Healthcare from $272.00 to $184.00 and set a “neutral” rating for the company in a research note on Tuesday, July 29th. Truist Financial reaffirmed a “hold” rating and issued a $180.00 target price (down from $335.00) on shares of Molina Healthcare in a research note on Friday, July 25th. Barclays lowered their target price on shares of Molina Healthcare from $186.00 to $185.00 and set an “equal weight” rating for the company in a research note on Thursday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $210.00 target price on shares of Molina Healthcare in a research note on Tuesday, August 26th. Finally, UBS Group lowered their target price on shares of Molina Healthcare from $260.00 to $180.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Molina Healthcare has an average rating of “Hold” and an average price target of $225.18.

Molina Healthcare Trading Up 2.2%

Shares of Molina Healthcare stock opened at $174.51 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.66. Molina Healthcare has a 1 year low of $151.95 and a 1 year high of $365.23. The company has a market capitalization of $9.46 billion, a P/E ratio of 8.60 and a beta of 0.54. The business has a 50 day moving average price of $187.75 and a 200 day moving average price of $269.73.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data 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). The company had revenue of $11.43 billion for the quarter, compared to analyst estimates of $10.94 billion. Molina Healthcare had a return on equity of 27.72% and a net margin of 2.60%.The company’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.86 earnings per share. Sell-side analysts anticipate that Molina Healthcare will post 24.4 EPS for the current fiscal year.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, COO James Woys purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average cost of $155.94 per share, with a total value of $1,559,400.00. Following the transaction, the chief operating officer owned 74,331 shares in the company, valued at approximately $11,591,176.14. This trade represents a 15.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronna Romney sold 700 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total transaction of $107,618.00. Following the sale, the director directly owned 17,131 shares of the company’s stock, valued at approximately $2,633,719.94. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Institutional Trading of Molina Healthcare

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD boosted its position in Molina Healthcare by 46.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,838,043 shares of the company’s stock worth $1,264,214,000 after purchasing an additional 1,216,903 shares during the period. Invesco Ltd. boosted its position in Molina Healthcare by 25.9% during the 2nd quarter. Invesco Ltd. now owns 1,601,574 shares of the company’s stock worth $477,109,000 after purchasing an additional 329,759 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Molina Healthcare by 8.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,487,896 shares of the company’s stock worth $490,099,000 after purchasing an additional 117,796 shares during the period. AQR Capital Management LLC boosted its position in Molina Healthcare by 4.6% during the 2nd quarter. AQR Capital Management LLC now owns 925,672 shares of the company’s stock worth $273,096,000 after purchasing an additional 40,714 shares during the period. Finally, Norges Bank purchased a new stake in Molina Healthcare during the 2nd quarter worth $212,113,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

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.