Molina Healthcare’s (MOH) Overweight Rating Reaffirmed at Cantor Fitzgerald

Molina Healthcare (NYSE:MOH)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They currently have a $406.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 17.20% from the company’s current price.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. reduced their target price on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Stephens reissued an “equal weight” rating and set a $320.00 price objective on shares of Molina Healthcare in a report on Thursday, July 25th. StockNews.com lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating in a research report on Wednesday, September 18th. TD Cowen reduced their price target on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $378.00.

Molina Healthcare Stock Performance

Molina Healthcare stock traded up $1.87 during trading hours on Tuesday, reaching $346.43. 26,122 shares of the stock were exchanged, compared to its average volume of 491,019. The stock has a market cap of $20.30 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.21 and a beta of 0.57. The firm’s 50 day moving average is $340.66 and its 200 day moving average is $340.88. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. Molina Healthcare has a 52-week low of $282.96 and a 52-week high of $423.92.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The firm had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.75 billion. During the same quarter last year, the firm earned $5.65 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. Analysts predict that Molina Healthcare will post 23.5 EPS for the current fiscal year.

Insider Activity at Molina Healthcare

In related news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the transaction, the director now owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the sale, the chief accounting officer now owns 9,473 shares in the company, valued at $3,282,583.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the transaction, the director now owns 18,025 shares of the company’s stock, valued at $6,114,260.25. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Molina Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in shares of Molina Healthcare during the 2nd quarter worth about $36,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Molina Healthcare in the 2nd quarter valued at $40,000. AM Squared Ltd purchased a new stake in shares of Molina Healthcare during the 2nd quarter valued at $59,000. Mather Group LLC. purchased a new stake in shares of Molina Healthcare during the 1st quarter valued at $123,000. Finally, GAMMA Investing LLC increased its holdings in shares of Molina Healthcare by 11.5% during the 1st quarter. GAMMA Investing LLC now owns 330 shares of the company’s stock worth $136,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors 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.