Wells Fargo & Company Cuts Molina Healthcare (NYSE:MOH) Price Target to $375.00

Molina Healthcare (NYSE:MOH) had its target price cut by Wells Fargo & Company from $410.00 to $375.00 in a research note published on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Truist Financial increased their price objective on shares of Molina Healthcare from $435.00 to $460.00 and gave the stock a buy rating in a research note on Tuesday, February 20th. Bank of America cut shares of Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price objective on the stock. in a research note on Thursday, March 28th. StockNews.com downgraded Molina Healthcare from a strong-buy rating to a buy rating in a report on Thursday, February 8th. Barclays lowered their price target on Molina Healthcare from $437.00 to $430.00 and set an equal weight rating for the company in a report on Thursday, April 25th. Finally, Stephens restated an equal weight rating and set a $390.00 price objective on shares of Molina Healthcare in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $398.55.

Molina Healthcare Stock Down 0.9 %

NYSE MOH opened at $338.87 on Monday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 0.97 and a beta of 0.47. The company has a 50 day moving average of $386.79 and a 200-day moving average of $372.10. Molina Healthcare has a 1-year low of $266.35 and a 1-year high of $423.92.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $5.73 EPS for the quarter, topping analysts’ consensus estimates of $5.46 by $0.27. The firm had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.45 billion. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the company earned $5.81 EPS. On average, equities research analysts expect that Molina Healthcare will post 23.59 earnings per share for the current fiscal year.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, CFO Mark Lowell Keim sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $386.56, for a total value of $5,798,400.00. Following the completion of the transaction, the chief financial officer now directly owns 36,531 shares in the company, valued at approximately $14,121,423.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Molina Healthcare news, CFO Mark Lowell Keim sold 15,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $386.56, for a total value of $5,798,400.00. Following the sale, the chief financial officer now owns 36,531 shares in the company, valued at approximately $14,121,423.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard M. Schapiro sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total value of $401,050.00. Following the transaction, the director now owns 11,207 shares of the company’s stock, valued at $4,494,567.35. The disclosure for this sale can be found here. Insiders sold a total of 16,711 shares of company stock worth $6,472,517 in the last quarter. 1.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Molina Healthcare

Several large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in Molina Healthcare by 15.5% during the first quarter. Janney Montgomery Scott LLC now owns 3,733 shares of the company’s stock valued at $1,534,000 after acquiring an additional 502 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Molina Healthcare by 35.6% during the 1st quarter. BNP Paribas Financial Markets now owns 56,835 shares of the company’s stock valued at $23,350,000 after purchasing an additional 14,920 shares in the last quarter. Centric Wealth Management boosted its position in shares of Molina Healthcare by 5.4% during the 1st quarter. Centric Wealth Management now owns 11,226 shares of the company’s stock valued at $4,612,000 after purchasing an additional 573 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Molina Healthcare by 10.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,332 shares of the company’s stock worth $5,066,000 after purchasing an additional 1,128 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Molina Healthcare by 3.2% in the first quarter. Van ECK Associates Corp now owns 11,614 shares of the company’s stock worth $4,771,000 after purchasing an additional 365 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.