Molina Healthcare (NYSE:MOH) Downgraded by Bank of America

Bank of America downgraded shares of Molina Healthcare (NYSE:MOHGet Rating) from a buy rating to an underperform rating in a research note issued to investors on Thursday morning, Marketbeat reports. They currently have $335.00 target price on the stock, down from their prior target price of $355.00.

A number of other analysts have also issued reports on MOH. Cowen boosted their price target on Molina Healthcare from $356.00 to $366.00 in a report on Monday, May 2nd. StockNews.com started coverage on Molina Healthcare in a report on Thursday, March 31st. They issued a strong-buy rating for the company. Mizuho boosted their price target on Molina Healthcare from $330.00 to $345.00 and gave the company a buy rating in a report on Friday, February 11th. BMO Capital Markets boosted their price target on Molina Healthcare from $365.00 to $380.00 and gave the company an outperform rating in a report on Monday, February 14th. Finally, Wells Fargo & Company lowered their price target on Molina Healthcare from $308.00 to $301.00 and set an underweight rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Molina Healthcare presently has a consensus rating of Buy and an average price target of $337.23.

Shares of NYSE MOH opened at $305.08 on Thursday. The business’s 50 day moving average is $322.03 and its two-hundred day moving average is $310.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.44 and a quick ratio of 1.44. Molina Healthcare has a 1-year low of $239.20 and a 1-year high of $350.19. The stock has a market capitalization of $17.91 billion, a P/E ratio of 25.96, a PEG ratio of 1.08 and a beta of 0.80.

Molina Healthcare (NYSE:MOHGet Rating) last announced its earnings results on Wednesday, April 27th. The company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.16. Molina Healthcare had a return on equity of 31.85% and a net margin of 2.37%. The business had revenue of $7.77 billion during the quarter, compared to analyst estimates of $7.54 billion. During the same quarter in the previous year, the business earned $4.44 earnings per share. As a group, equities research analysts anticipate that Molina Healthcare will post 17.14 earnings per share for the current fiscal year.

In other news, insider Jeff D. Barlow sold 5,000 shares of the company’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $315.00, for a total transaction of $1,575,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven J. Orlando sold 591 shares of the company’s stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $311.00, for a total value of $183,801.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,991 shares of company stock worth $1,883,261. Insiders own 1.49% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MOH. Vanguard Group Inc. increased its position in shares of Molina Healthcare by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 6,449,375 shares of the company’s stock valued at $2,151,448,000 after acquiring an additional 1,001,372 shares during the period. Durable Capital Partners LP acquired a new position in shares of Molina Healthcare in the 1st quarter valued at $214,363,000. Norges Bank acquired a new position in shares of Molina Healthcare in the 4th quarter valued at $177,876,000. Invesco Ltd. increased its position in shares of Molina Healthcare by 151.6% in the 1st quarter. Invesco Ltd. now owns 893,693 shares of the company’s stock valued at $298,128,000 after acquiring an additional 538,493 shares during the period. Finally, Capital World Investors increased its position in shares of Molina Healthcare by 10.8% in the 3rd quarter. Capital World Investors now owns 5,335,821 shares of the company’s stock valued at $1,447,662,000 after acquiring an additional 519,297 shares during the period. 94.82% of the stock is currently owned by hedge funds and other institutional investors.

About Molina Healthcare (Get Rating)

Molina Healthcare, Inc provides managed health care 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. As of December 31, 2021, the company served the company served approximately 5.2 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs in 18 states.

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Analyst Recommendations for Molina Healthcare (NYSE:MOH)

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