Molina Healthcare’s (MOH) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

Molina Healthcare (NYSE:MOH)‘s stock had its “neutral” rating reissued by equities research analysts at JPMorgan Chase & Co. in a report released on Tuesday, Marketbeat Ratings reports. They presently have a $350.00 price target on the stock, down from their previous price target of $378.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 18.01% from the stock’s current price.

Several other brokerages have also recently commented on MOH. Cantor Fitzgerald reissued an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, October 24th. Robert W. Baird dropped their target price on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company raised their price target on Molina Healthcare from $360.00 to $362.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Barclays upped their price objective on Molina Healthcare from $359.00 to $372.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, StockNews.com raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $363.42.

Molina Healthcare Stock Up 1.6 %

Shares of Molina Healthcare stock opened at $296.59 on Tuesday. The firm has a market cap of $16.96 billion, a PE ratio of 15.06, a P/E/G ratio of 1.03 and a beta of 0.54. The business’s 50 day simple moving average is $308.65 and its 200 day simple moving average is $319.17. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.55 and a current ratio of 1.54. 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 data on Wednesday, October 23rd. The company reported $6.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.96 by $0.05. The company had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $9.92 billion. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same period last year, the company earned $5.05 earnings per share. On average, analysts predict that Molina Healthcare will post 23.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Molina Healthcare

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jupiter Asset Management Ltd. grew its stake in shares of Molina Healthcare by 434.6% in the second quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock valued at $55,181,000 after acquiring an additional 150,890 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Molina Healthcare by 36.2% during the second quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock worth $137,810,000 after purchasing an additional 123,121 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Molina Healthcare by 13.3% during the second quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock worth $282,343,000 after purchasing an additional 111,154 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Molina Healthcare by 22.0% in the second quarter. Dimensional Fund Advisors LP now owns 470,932 shares of the company’s stock valued at $140,026,000 after buying an additional 84,929 shares in the last quarter. Finally, Candriam S.C.A. boosted its stake in shares of Molina Healthcare by 1,565.1% in the second quarter. Candriam S.C.A. now owns 71,285 shares of the company’s stock valued at $21,192,000 after buying an additional 67,004 shares during the period. Institutional investors and hedge funds 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.