Molina Healthcare’s (MOH) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Molina Healthcare (NYSE:MOH) in a report published on Tuesday morning, Benzinga reports. The firm currently has a $406.00 price target on the stock.

Several other research firms have also issued reports on MOH. Robert W. Baird started coverage on shares of Molina Healthcare in a research report on Thursday, May 30th. They set an outperform rating and a $405.00 price target on the stock. Baird R W raised shares of Molina Healthcare to a strong-buy rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. dropped their price objective on shares of Molina Healthcare from $420.00 to $395.00 and set an overweight rating on the stock in a research report on Wednesday, July 10th. Barclays dropped their price objective on shares of Molina Healthcare from $437.00 to $430.00 and set an equal weight rating on the stock in a research report on Thursday, April 25th. Finally, Bank of America lowered 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 report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $376.18.

Molina Healthcare Stock Up 3.5 %

Molina Healthcare stock opened at $335.36 on Tuesday. The company has a 50 day moving average of $307.20 and a 200-day moving average of $353.65. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $19.65 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58. Molina Healthcare has a twelve month low of $282.96 and a twelve month high of $423.92.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.13. The business had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. Molina Healthcare had a net margin of 2.84% and a return on equity of 29.17%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.65 earnings per share. On average, equities research analysts anticipate that Molina Healthcare will post 23.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ronna Romney sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total value of $85,817.50. Following the sale, the director now directly owns 16,945 shares in the company, valued at approximately $5,816,710.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO James Woys sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total value of $3,451,500.00. Following the completion of the transaction, the chief operating officer now owns 53,613 shares in the company, valued at approximately $18,504,526.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ronna Romney sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total transaction of $85,817.50. Following the completion of the transaction, the director now owns 16,945 shares of the company’s stock, valued at approximately $5,816,710.15. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its holdings in Molina Healthcare by 8.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 70,187 shares of the company’s stock valued at $20,867,000 after buying an additional 5,691 shares during the last quarter. State of Michigan Retirement System raised its holdings in Molina Healthcare by 1.8% in the 2nd quarter. State of Michigan Retirement System now owns 16,832 shares of the company’s stock valued at $5,004,000 after buying an additional 300 shares during the last quarter. EFG Asset Management North America Corp. raised its holdings in Molina Healthcare by 17.6% in the 2nd quarter. EFG Asset Management North America Corp. now owns 6,401 shares of the company’s stock valued at $1,902,000 after buying an additional 959 shares during the last quarter. Overbrook Management Corp raised its holdings in Molina Healthcare by 14.5% in the 2nd quarter. Overbrook Management Corp now owns 29,784 shares of the company’s stock valued at $8,855,000 after buying an additional 3,777 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in Molina Healthcare by 9.0% in the 2nd quarter. Clear Creek Financial Management LLC now owns 1,594 shares of the company’s stock valued at $474,000 after buying an additional 132 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

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.