Molina Healthcare (NYSE:MOH) Price Target Lowered to $370.00 at Truist Financial

Molina Healthcare (NYSE:MOH) had its price objective dropped by Truist Financial from $400.00 to $370.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 25.64% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of Molina Healthcare from $359.00 to $372.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Wells Fargo & Company increased their price objective on shares of Molina Healthcare from $360.00 to $362.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Robert W. Baird cut 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $350.00 price target (down from $378.00) on shares of Molina Healthcare in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of Molina Healthcare from a “hold” rating to a “buy” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Molina Healthcare presently has an average rating of “Hold” and an average price target of $359.18.

Molina Healthcare Price Performance

NYSE:MOH opened at $294.49 on Monday. The firm’s fifty day moving average is $303.77 and its two-hundred day moving average is $317.69. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 1.04 and a beta of 0.54. Molina Healthcare has a one year low of $272.69 and a one year high of $423.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.54.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $6.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.96 by $0.05. The firm had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $9.92 billion. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.05 earnings per share. Research analysts expect that Molina Healthcare will post 23.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MOH. State Street Corp grew its position in shares of Molina Healthcare by 0.5% in the 3rd quarter. State Street Corp now owns 2,614,311 shares of the company’s stock worth $900,787,000 after acquiring an additional 13,001 shares in the last quarter. Renaissance Technologies LLC increased its stake in Molina Healthcare by 13.3% during the second quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock valued at $282,343,000 after purchasing an additional 111,154 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Molina Healthcare by 22.0% during the second quarter. Dimensional Fund Advisors LP now owns 470,932 shares of the company’s stock worth $140,026,000 after purchasing an additional 84,929 shares during the period. AQR Capital Management LLC lifted its position in shares of Molina Healthcare by 36.2% in the 2nd quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock worth $137,810,000 after buying an additional 123,121 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Molina Healthcare by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 390,078 shares of the company’s stock worth $134,405,000 after buying an additional 10,030 shares during the period. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

Molina Healthcare Company Profile

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.