Molina Healthcare (NYSE:MOH) Price Target Raised to $360.00 at Wells Fargo & Company

Molina Healthcare (NYSE:MOH) had its target price hoisted by Wells Fargo & Company from $315.00 to $360.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other brokerages have also issued reports on MOH. TD Cowen reduced their target price on shares of Molina Healthcare from $412.00 to $351.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $406.00 target price on shares of Molina Healthcare in a research note on Tuesday, July 23rd. Stephens reaffirmed an equal weight rating and issued a $320.00 target price on shares of Molina Healthcare in a research note on Thursday, July 25th. Baird R W raised shares of Molina Healthcare to a strong-buy rating in a research note on Thursday, May 30th. Finally, Truist Financial decreased their price objective on shares of Molina Healthcare from $440.00 to $400.00 and set a buy rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $378.00.

Molina Healthcare Trading Up 0.7 %

MOH stock opened at $336.81 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. Molina Healthcare has a twelve month low of $282.96 and a twelve month high of $423.92. The company has a market cap of $19.74 billion, a P/E ratio of 18.28, a PEG ratio of 1.20 and a beta of 0.58. The business has a fifty day moving average of $308.90 and a 200-day moving average of $350.97.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.13. The firm had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period in the previous year, the business posted $5.65 EPS. As a group, equities research analysts expect that Molina Healthcare will post 23.5 EPS for the current year.

Insider Transactions at Molina Healthcare

In related news, Director Ronna Romney sold 250 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total value of $85,817.50. Following the completion of the transaction, the director now owns 16,945 shares of the company’s stock, valued at $5,816,710.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the transaction, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ronna Romney sold 250 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total transaction of $85,817.50. Following the sale, the director now directly owns 16,945 shares in the company, valued at $5,816,710.15. The disclosure for this sale can be found here. Insiders sold 11,250 shares of company stock valued at $3,876,528 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Federated Hermes Inc. raised its stake in Molina Healthcare by 2.6% in the second quarter. Federated Hermes Inc. now owns 91,961 shares of the company’s stock valued at $27,340,000 after buying an additional 2,323 shares during the period. Meeder Asset Management Inc. lifted its holdings in Molina Healthcare by 1,543.2% during the 2nd quarter. Meeder Asset Management Inc. now owns 608 shares of the company’s stock valued at $181,000 after purchasing an additional 571 shares during the last quarter. Achmea Investment Management B.V. boosted its position in Molina Healthcare by 5.2% during the second quarter. Achmea Investment Management B.V. now owns 11,851 shares of the company’s stock worth $3,523,000 after purchasing an additional 586 shares during the period. Jupiter Asset Management Ltd. raised its position in shares of Molina Healthcare by 434.6% in the second quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock valued at $55,181,000 after purchasing an additional 150,890 shares during the period. Finally, Qsemble Capital Management LP acquired a new stake in shares of Molina Healthcare during the 2nd quarter worth about $316,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.