Molina Healthcare (NYSE:MOH) Sets New 52-Week High After Analyst Upgrade

Molina Healthcare, Inc. (NYSE:MOHGet Free Report)’s share price hit a new 52-week high during mid-day trading on Monday after Cantor Fitzgerald raised their price target on the stock from $374.00 to $406.00. Cantor Fitzgerald currently has an overweight rating on the stock. Molina Healthcare traded as high as $393.34 and last traded at $392.63, with a volume of 438731 shares. The stock had previously closed at $388.67.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on Molina Healthcare from $367.00 to $392.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Finally, UBS Group lifted their price objective on Molina Healthcare from $350.00 to $380.00 and gave the stock a “neutral” rating in a research note on Thursday, December 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Molina Healthcare presently has a consensus rating of “Hold” and a consensus target price of $357.50.

Check Out Our Latest Stock Analysis on MOH

Insiders Place Their Bets

In related news, Director Ronna Romney sold 335 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $358.00, for a total value of $119,930.00. Following the transaction, the director now owns 16,907 shares in the company, valued at $6,052,706. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

A number of hedge funds and other institutional investors have recently bought and sold shares of MOH. Vanguard Group Inc. boosted its position in Molina Healthcare by 18.4% during the first quarter. Vanguard Group Inc. now owns 6,449,375 shares of the company’s stock valued at $2,151,448,000 after buying an additional 1,001,372 shares during the period. Norges Bank purchased a new position in shares of Molina Healthcare during the 4th quarter worth $275,143,000. Durable Capital Partners LP purchased a new position in shares of Molina Healthcare during the 1st quarter valued at $214,363,000. Boston Partners increased its holdings in Molina Healthcare by 225.3% in the 2nd quarter. Boston Partners now owns 915,861 shares of the company’s stock valued at $275,899,000 after acquiring an additional 634,279 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Molina Healthcare by 90.4% during the 2nd quarter. Capital Research Global Investors now owns 1,304,218 shares of the company’s stock worth $392,883,000 after purchasing an additional 619,352 shares during the period. Institutional investors own 98.11% of the company’s stock.

Molina Healthcare Stock Performance

The firm’s 50-day simple moving average is $367.29 and its 200-day simple moving average is $345.10. The company has a market capitalization of $22.89 billion, a PE ratio of 20.70, a PEG ratio of 1.12 and a beta of 0.45. The company has a current ratio of 1.54, a quick ratio of 1.47 and a debt-to-equity ratio of 0.57.

Molina Healthcare (NYSE:MOHGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.31 by $0.07. The firm had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.10 EPS. On average, research analysts predict that Molina Healthcare, Inc. will post 23.55 earnings per share for the current year.

About Molina Healthcare

(Get Free Report)

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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