Molina Healthcare (NYSE:MOH) Given New $370.00 Price Target at Truist Financial

Molina Healthcare (NYSE:MOH) had its target price dropped by equities researchers at Truist Financial from $400.00 to $370.00 in a report issued on Monday,Benzinga reports. The firm currently 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.

A number of other brokerages also recently weighed in on MOH. Barclays raised 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 note on Friday, October 25th. JPMorgan Chase & Co. reissued 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research report on Thursday, October 24th. Wells Fargo & Company increased their price target on Molina Healthcare from $360.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Finally, Robert W. Baird cut their price objective on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock 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 company has a market cap of $16.84 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.54. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $303.77 and its two-hundred day simple moving average is $317.69. Molina Healthcare has a 52 week low of $272.69 and a 52 week high of $423.92.

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

Hedge Funds Weigh In On Molina Healthcare

A number of institutional investors have recently modified their holdings of the stock. True Wealth Design LLC increased its holdings in Molina Healthcare by 2,500.0% during the 3rd quarter. True Wealth Design LLC now owns 104 shares of the company’s stock worth $36,000 after purchasing an additional 100 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of Molina Healthcare during the 2nd quarter worth $40,000. Versant Capital Management Inc increased its stake in shares of Molina Healthcare by 83.1% during the fourth quarter. Versant Capital Management Inc now owns 163 shares of the company’s stock valued at $47,000 after buying an additional 74 shares during the period. Capital Performance Advisors LLP purchased a new stake in Molina Healthcare in the third quarter worth about $62,000. Finally, UMB Bank n.a. grew its holdings in Molina Healthcare by 96.2% during the 3rd quarter. UMB Bank n.a. now owns 206 shares of the company’s stock worth $71,000 after acquiring an additional 101 shares in the last quarter. 98.50% of the stock is 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.