Zacks Investment Research upgraded shares of Molina Healthcare Inc (NYSE:MOH) from a hold rating to a buy rating in a report published on Tuesday. Zacks Investment Research currently has $64.00 price target on the stock.
According to Zacks, “Molina Healthcare’s steady increase in premiums and service revenues over the past several quarters paves the way for long term growth. Its several inorganic growth initiatives have provided health care services to patients with complex requirements. Its eligible health plans recently have ether been raised or remained same in the 2017 Star Ratings assigned by CMS. However, in 2016, the shares of Molina Healthcare has lost 9.8% as against 21% gained by the Zacks categorized Health Maintenance Organization industry. Rising medical care costs along with acute dependence on debt financing that has resulted in higher interest expenses likely have contributed to this share price depreciation.”
A number of other equities research analysts have also recently weighed in on MOH. Jefferies Group upped their price objective on shares of Molina Healthcare from $63.00 to $70.00 and gave the stock a buy rating in a report on Tuesday, September 13th. Goldman Sachs Group, Inc. (The) upgraded shares of Molina Healthcare from a sell rating to a neutral rating and upped their price objective for the stock from $51.00 to $58.00 in a report on Monday, September 19th. Credit Suisse Group cut shares of Molina Healthcare from a neutral rating to an underperform rating and cut their price objective for the stock from $63.00 to $47.00 in a report on Friday, November 11th. Finally, Piper Jaffray Companies started coverage on shares of Molina Healthcare in a report on Tuesday, January 3rd. They issued an overweight rating and a $65.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $64.00.
Shares of Molina Healthcare (NYSE:MOH) traded up 1.47% during midday trading on Tuesday, hitting $58.82. 920,804 shares of the stock traded hands. The company’s 50-day moving average is $54.28 and its 200 day moving average is $54.82. Molina Healthcare has a 52 week low of $44.50 and a 52 week high of $67.87. The firm has a market capitalization of $3.34 billion, a PE ratio of 25.73 and a beta of 1.16.
Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.09. The business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.37 billion. Molina Healthcare had a net margin of 0.76% and a return on equity of 9.38%. The business’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share. Analysts anticipate that Molina Healthcare will post $2.79 earnings per share for the current year.
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In other news, COO Terry Bayer sold 7,825 shares of the stock in a transaction on Monday, October 24th. The shares were sold at an average price of $60.00, for a total value of $469,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dale B. Wolf sold 3,000 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $57.63, for a total transaction of $172,890.00. Following the completion of the sale, the director now directly owns 16,071 shares of the company’s stock, valued at $926,171.73. The disclosure for this sale can be found here. 6.89% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in MOH. Orinda Asset Management LLC boosted its stake in shares of Molina Healthcare by 45.8% in the third quarter. Orinda Asset Management LLC now owns 3,426 shares of the company’s stock worth $200,000 after buying an additional 1,077 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Molina Healthcare during the third quarter worth about $226,000. ETRADE Capital Management LLC bought a new position in Molina Healthcare during the third quarter valued at $259,000. Wright Investors Service Inc. bought a new position in Molina Healthcare during the second quarter valued at $224,000. Finally, Clinton Group Inc. bought a new position in Molina Healthcare during the third quarter valued at $263,000. 89.61% of the stock is owned by hedge funds and other institutional investors.
Molina Healthcare Company Profile
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other. Its Health Plans segment consists of health plans in approximately 10 states and the Commonwealth of Puerto Rico, and its direct delivery business.
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