Wells Fargo & Company Issues Positive Forecast for Molina Healthcare (NYSE:MOH) Stock Price

Molina Healthcare (NYSE:MOH) had its target price lifted by equities researchers at Wells Fargo & Company from $360.00 to $362.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 8.58% from the stock’s previous close.

A number of other equities analysts have also weighed in on MOH. TD Cowen cut their price objective 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. Truist Financial cut their price target on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Robert W. Baird cut their price target on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $367.17.

Molina Healthcare Stock Performance

NYSE:MOH opened at $333.39 on Monday. The firm has a 50 day simple moving average of $332.15 and a 200-day simple moving average of $327.38. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.54 and a quick ratio of 1.55. The firm has a market cap of $19.07 billion, a PE ratio of 16.93, a P/E/G ratio of 1.13 and a beta of 0.59. Molina Healthcare has a 1-year low of $272.69 and a 1-year high of $423.92.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, beating analysts’ consensus estimates of $5.96 by $0.05. The business had revenue of $10.34 billion during the quarter, compared to analyst estimates of $9.92 billion. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The company’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.05 earnings per share. On average, equities analysts expect that Molina Healthcare will post 23.44 EPS for the current year.

Insider Activity

In related news, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the sale, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

A number of large investors have recently added to or reduced their stakes in the company. Capital International Investors grew its holdings in Molina Healthcare by 0.9% during the 1st quarter. Capital International Investors now owns 1,665,801 shares of the company’s stock valued at $684,361,000 after purchasing an additional 15,264 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Molina Healthcare by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock worth $282,343,000 after acquiring an additional 111,154 shares in the last quarter. Boston Partners grew its holdings in Molina Healthcare by 14.8% during the 1st quarter. Boston Partners now owns 798,950 shares of the company’s stock worth $328,101,000 after acquiring an additional 103,245 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Molina Healthcare by 22.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 470,932 shares of the company’s stock worth $140,026,000 after acquiring an additional 84,929 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in Molina Healthcare by 36.2% during the 2nd quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock worth $137,810,000 after acquiring an additional 123,121 shares in the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

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.