Molina Healthcare (NYSE:MOH) Price Target Cut to $351.00 by Analysts at TD Cowen

Molina Healthcare (NYSE:MOH) had its target price decreased by investment analysts at TD Cowen from $412.00 to $351.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target would suggest a potential upside of 8.25% from the company’s previous close.

Several other equities analysts have also recently issued reports on MOH. Cantor Fitzgerald reissued an “overweight” rating and issued a $406.00 price objective on shares of Molina Healthcare in a report on Tuesday. JPMorgan Chase & Co. decreased their price target on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Baird R W raised shares of Molina Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Stephens reiterated an “equal weight” rating and issued a $390.00 target price on shares of Molina Healthcare in a research note on Thursday, April 25th. Finally, Bank of America lowered shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price target on the stock. in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, five have assigned 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $376.18.

Molina Healthcare Trading Up 12.3 %

Shares of NYSE:MOH opened at $324.25 on Wednesday. The business’s 50-day moving average is $307.61 and its 200 day moving average is $353.85. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.49. Molina Healthcare has a 1 year low of $282.96 and a 1 year high of $423.92. The firm has a market capitalization of $19.00 billion, a P/E ratio of 17.59, a P/E/G ratio of 0.89 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 29.17%. The business had revenue of $9.88 billion for the quarter, compared to the consensus estimate of $9.75 billion. During the same period in the prior year, the firm earned $5.65 EPS. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, research analysts predict that Molina Healthcare will post 23.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Molina Healthcare 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 transaction of $3,451,500.00. Following the completion of the transaction, the chief operating officer now owns 53,613 shares of the company’s stock, valued at $18,504,526.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO James Woys sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total transaction 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 $18,504,526.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronna Romney sold 250 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total transaction of $85,817.50. Following the completion of the transaction, 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. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackBarn Capital Partners LP acquired a new position in Molina Healthcare during the fourth quarter worth $15,139,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Molina Healthcare by 69.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 11,809 shares of the company’s stock valued at $4,851,000 after purchasing an additional 4,840 shares during the period. Overbrook Management Corp increased its position in Molina Healthcare by 1.1% during the fourth quarter. Overbrook Management Corp now owns 36,908 shares of the company’s stock worth $13,335,000 after purchasing an additional 391 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Molina Healthcare by 76.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 27,301 shares of the company’s stock worth $9,864,000 after purchasing an additional 11,820 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Molina Healthcare by 5.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,208 shares of the company’s stock worth $1,159,000 after purchasing an additional 167 shares during the period. 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.