Molina Healthcare (NYSE:MOH – Free Report) had its price objective increased by Cantor Fitzgerald from $374.00 to $406.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock. Cantor Fitzgerald also issued estimates for Molina Healthcare’s FY2024 earnings at $23.62 EPS.
MOH has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price objective on shares of Molina Healthcare from $367.00 to $392.00 and gave the stock an overweight rating in a research note on Friday, November 17th. UBS Group boosted their price objective on shares of Molina Healthcare from $350.00 to $380.00 and gave the stock a neutral rating in a research note on Thursday, December 21st. Finally, StockNews.com downgraded shares of Molina Healthcare from a strong-buy rating to a buy rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $357.50.
Molina Healthcare Price Performance
Molina Healthcare (NYSE:MOH – Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $4.38 earnings per share for the quarter, beating the consensus estimate of $4.31 by $0.07. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The firm had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period last year, the firm posted $4.10 EPS. Molina Healthcare’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts expect that Molina Healthcare will post 23.55 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Ronna Romney sold 335 shares of Molina Healthcare stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $358.00, for a total transaction of $119,930.00. Following the transaction, the director now owns 16,907 shares of the company’s stock, valued at approximately $6,052,706. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is owned by insiders.
Institutional Trading of Molina Healthcare
Several hedge funds have recently bought and sold shares of the stock. Desjardins Global Asset Management Inc. raised its holdings in shares of Molina Healthcare by 4.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 763 shares of the company’s stock valued at $276,000 after purchasing an additional 32 shares during the last quarter. Brighton Jones LLC lifted its stake in Molina Healthcare by 1.0% in the 2nd quarter. Brighton Jones LLC now owns 3,302 shares of the company’s stock valued at $995,000 after purchasing an additional 33 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Molina Healthcare by 2.1% in the 4th quarter. Ritholtz Wealth Management now owns 1,620 shares of the company’s stock valued at $585,000 after acquiring an additional 33 shares during the period. Captrust Financial Advisors raised its holdings in Molina Healthcare by 0.5% in the 2nd quarter. Captrust Financial Advisors now owns 6,315 shares of the company’s stock valued at $1,766,000 after acquiring an additional 33 shares during the period. Finally, Financial Gravity Asset Management Inc. increased its holdings in shares of Molina Healthcare by 12.7% during the second quarter. Financial Gravity Asset Management Inc. now owns 301 shares of the company’s stock worth $12,106,000 after purchasing an additional 34 shares during the period. 98.11% of the stock is currently 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.
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