Molina Healthcare (NYSE:MOH) Price Target Cut to $315.00

Molina Healthcare (NYSE:MOH) had its target price reduced by stock analysts at Wells Fargo & Company from $375.00 to $315.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 9.82% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Bank of America cut Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 target price for the company. in a research note on Thursday, March 28th. JPMorgan Chase & Co. lowered their target price on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. TD Cowen lowered their target price on Molina Healthcare from $453.00 to $412.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Truist Financial lowered their target price on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Molina Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $397.20.

Molina Healthcare Stock Performance

Shares of MOH stock opened at $286.82 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.49. The stock has a market cap of $16.81 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58. The stock has a 50-day moving average of $310.01 and a 200-day moving average of $354.96. Molina Healthcare has a one year low of $282.96 and a one year high of $423.92.

Molina Healthcare (NYSE:MOH) last posted its earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.46 by $0.27. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. The business had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.45 billion. During the same period in the prior year, the business earned $5.81 EPS. Molina Healthcare’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, sell-side analysts expect that Molina Healthcare will post 23.56 earnings per share for the current year.

Insider Activity

In other news, COO James Woys sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total value of $3,451,500.00. Following the completion of the sale, the chief operating officer now owns 53,613 shares of the company’s stock, valued at approximately $18,504,526.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO James Woys sold 10,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total value of $3,451,500.00. Following the sale, the chief operating officer now owns 53,613 shares in the company, valued at approximately $18,504,526.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronna Romney sold 250 shares of the 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 sale, the director now owns 16,945 shares in the company, valued at approximately $5,816,710.15. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Molina Healthcare

A number of large investors have recently added to or reduced their stakes in MOH. McIlrath & Eck LLC bought a new stake in Molina Healthcare in the 4th quarter valued at $34,000. Principal Securities Inc. bought a new position in Molina Healthcare during the 4th quarter worth $42,000. Householder Group Estate & Retirement Specialist LLC increased its position in Molina Healthcare by 3,933.3% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 121 shares of the company’s stock worth $43,000 after buying an additional 118 shares during the period. Friedenthal Financial bought a new position in Molina Healthcare during the 4th quarter worth $43,000. Finally, Allworth Financial LP increased its position in Molina Healthcare by 80.0% during the 4th quarter. Allworth Financial LP now owns 135 shares of the company’s stock worth $49,000 after buying an additional 60 shares during the period. Institutional investors 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.