Truist Financial Lowers Molina Healthcare (NYSE:MOH) Price Target to $400.00

Molina Healthcare (NYSE:MOH) had its price objective reduced by research analysts at Truist Financial from $440.00 to $400.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 30.15% from the stock’s current price.

A number of other brokerages have also recently commented on MOH. Robert W. Baird started coverage on shares of Molina Healthcare in a research report on Thursday, May 30th. They set an “outperform” rating and a $405.00 price target on the stock. Baird R W raised shares of Molina Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. TD Cowen cut their price target on shares of Molina Healthcare from $453.00 to $412.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Stephens reaffirmed an “equal weight” rating and set a $390.00 price target on shares of Molina Healthcare in a research report on Thursday, April 25th. Finally, Bank of America cut 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, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Molina Healthcare has a consensus rating of “Moderate Buy” and an average target price of $403.20.

Molina Healthcare Stock Performance

Shares of Molina Healthcare stock opened at $307.33 on Monday. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.53. Molina Healthcare has a twelve month low of $283.53 and a twelve month high of $423.92. The stock has a market cap of $18.01 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 0.90 and a beta of 0.58. The company’s fifty day moving average is $314.76 and its 200 day moving average is $357.24.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $5.73 earnings per share for the quarter, topping the consensus estimate of $5.46 by $0.27. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. The company had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.45 billion. During the same quarter in the previous year, the firm posted $5.81 earnings per share. Molina Healthcare’s revenue for the quarter was up 21.9% on a year-over-year basis. Sell-side analysts forecast that Molina Healthcare will post 23.56 EPS for the current year.

Insider Transactions at Molina Healthcare

In other news, Director Ronna Romney sold 250 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total transaction of $85,817.50. Following the transaction, the director now owns 16,945 shares of the company’s stock, valued at approximately $5,816,710.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO James Woys sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronna Romney sold 250 shares of the company’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 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. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

A number of institutional investors and hedge funds have recently made changes to their positions in MOH. Norges Bank acquired a new stake in shares of Molina Healthcare in the 4th quarter worth about $275,143,000. Wellington Management Group LLP raised its holdings in shares of Molina Healthcare by 12.8% in the 4th quarter. Wellington Management Group LLP now owns 3,831,100 shares of the company’s stock worth $1,384,215,000 after acquiring an additional 436,060 shares during the last quarter. Swedbank AB acquired a new stake in shares of Molina Healthcare in the 1st quarter worth about $69,320,000. Capital Research Global Investors increased its stake in Molina Healthcare by 5.4% in the 4th quarter. Capital Research Global Investors now owns 2,430,283 shares of the company’s stock valued at $878,086,000 after buying an additional 123,894 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Molina Healthcare by 127.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 192,847 shares of the company’s stock valued at $69,678,000 after buying an additional 107,895 shares during the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.