Molina Healthcare (NYSE:MOH) Shares Gap Down After Earnings Miss

Molina Healthcare, Inc. (NYSE:MOH)’s stock price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $317.01, but opened at $287.09. Molina Healthcare shares last traded at $294.10, with a volume of 164,413 shares traded.

The company reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a return on equity of 27.88% and a net margin of 2.92%.

Analysts Set New Price Targets

A number of research firms have recently commented on MOH. Truist Financial cut their target price on shares of Molina Healthcare from $400.00 to $370.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Robert W. Baird decreased their target price on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Stephens reiterated an “equal weight” rating and set a $345.00 price target on shares of Molina Healthcare in a research report on Thursday. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $350.00 price objective (down from $378.00) on shares of Molina Healthcare in a research note on Tuesday, December 17th. Finally, StockNews.com raised shares of Molina Healthcare from a “buy” rating to a “strong-buy” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Molina Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $361.45.

Hedge Funds Weigh In On Molina Healthcare

A number of institutional investors have recently bought and sold shares of MOH. True Wealth Design LLC increased its holdings in shares of Molina Healthcare by 2,500.0% during the 3rd quarter. True Wealth Design LLC now owns 104 shares of the company’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Versant Capital Management Inc increased its stake in Molina Healthcare by 83.1% during the fourth quarter. Versant Capital Management Inc now owns 163 shares of the company’s stock worth $47,000 after acquiring an additional 74 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in Molina Healthcare in the fourth quarter valued at $52,000. Financial Perspectives Inc purchased a new stake in Molina Healthcare in the fourth quarter valued at $59,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Molina Healthcare during the 3rd quarter worth about $62,000. 98.50% of the stock is owned by hedge funds and other institutional investors.

Molina Healthcare Stock Performance

The firm’s fifty day moving average is $298.78 and its 200-day moving average is $318.38. The company has a current ratio of 1.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $16.94 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 0.96 and a beta of 0.54.

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.