Molina Healthcare (NYSE:MOH) Reaches New 12-Month Low – Here’s What Happened

Molina Healthcare, Inc. (NYSE:MOH)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $282.45 and last traded at $282.86, with a volume of 374071 shares traded. The stock had previously closed at $286.60.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $406.00 price target on shares of Molina Healthcare in a report on Tuesday, October 1st. Truist Financial lowered their price objective on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Stephens reissued an “equal weight” rating and issued a $320.00 target price on shares of Molina Healthcare in a research note on Thursday, July 25th. Finally, Wells Fargo & Company upped their price target on Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Molina Healthcare currently has an average rating of “Moderate Buy” and an average target price of $378.00.

Molina Healthcare Trading Down 0.9 %

The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. The company has a market cap of $16.64 billion, a PE ratio of 15.55, a PEG ratio of 1.15 and a beta of 0.58. The stock has a 50 day moving average price of $338.57 and a 200 day moving average price of $331.56.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $5.73 by $0.13. The business had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.75 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $5.65 earnings per share. Sell-side analysts predict that Molina Healthcare, Inc. will post 23.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the transaction, the chief accounting officer now owns 9,473 shares in the company, valued at approximately $3,282,583.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Maurice Hebert sold 393 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the transaction, the chief accounting officer now owns 9,473 shares in the company, valued at approximately $3,282,583.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the transaction, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Molina Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the company. Swedbank AB bought a new position in Molina Healthcare in the 1st quarter worth $69,320,000. Jupiter Asset Management Ltd. increased its position in Molina Healthcare by 434.6% in the second quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock worth $55,181,000 after buying an additional 150,890 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Molina Healthcare by 36.2% in the second quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock worth $137,810,000 after buying an additional 123,121 shares during the period. Renaissance Technologies LLC lifted its position in shares of Molina Healthcare by 13.3% during the 2nd quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock valued at $282,343,000 after buying an additional 111,154 shares in the last quarter. Finally, Boston Partners grew its stake in shares of Molina Healthcare by 14.8% during the 1st quarter. Boston Partners now owns 798,950 shares of the company’s stock valued at $328,101,000 after acquiring an additional 103,245 shares during the period. 98.50% of the stock is owned by institutional investors.

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.