Molina Healthcare (NYSE:MOH) Coverage Initiated at Guggenheim

Equities research analysts at Guggenheim assumed coverage on shares of Molina Healthcare (NYSE:MOH) in a note issued to investors on Wednesday, MarketBeat reports. The brokerage set a “neutral” rating on the stock.

MOH has been the topic of a number of other reports. Barclays decreased their price target on Molina Healthcare from $372.00 to $339.00 and set an “equal weight” rating on the stock in a report on Friday, February 7th. Truist Financial reduced their price target on shares of Molina Healthcare from $370.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $350.00 price objective (down from $378.00) on shares of Molina Healthcare in a report on Tuesday, December 17th. Wells Fargo & Company upgraded shares of Molina Healthcare from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $295.00 to $372.00 in a research report on Wednesday, March 5th. Finally, Mizuho increased their price target on Molina Healthcare from $376.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $350.75.

Molina Healthcare Stock Up 0.9 %

MOH stock opened at $343.13 on Wednesday. The business’s 50-day moving average price is $309.80 and its 200-day moving average price is $308.17. The stock has a market cap of $18.77 billion, a P/E ratio of 16.80, a PEG ratio of 1.06 and a beta of 0.70. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69. Molina Healthcare has a twelve month low of $262.32 and a twelve month high of $379.07.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, February 5th. 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 net margin of 2.90% and a return on equity of 28.13%. On average, equities research analysts forecast that Molina Healthcare will post 24.4 EPS for the current year.

Insider Activity

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.33, for a total transaction of $301,330.00. Following the transaction, the director now directly owns 17,375 shares in the company, valued at $5,235,608.75. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

Several hedge funds have recently made changes to their positions in the company. Rothschild Investment LLC raised its holdings in shares of Molina Healthcare by 126.3% in the first quarter. Rothschild Investment LLC now owns 86 shares of the company’s stock valued at $28,000 after acquiring an additional 48 shares in the last quarter. Colonial Trust Co SC increased its position in Molina Healthcare by 930.0% during the 4th quarter. Colonial Trust Co SC now owns 103 shares of the company’s stock valued at $30,000 after purchasing an additional 93 shares during the period. Versant Capital Management Inc raised its holdings in shares of Molina Healthcare by 83.1% in the 4th quarter. Versant Capital Management Inc now owns 163 shares of the company’s stock valued at $47,000 after purchasing an additional 74 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Molina Healthcare in the 4th quarter worth approximately $52,000. Finally, Hurley Capital LLC bought a new position in shares of Molina Healthcare during the fourth quarter valued at approximately $55,000. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.