Wells Fargo & Company Forecasts Strong Price Appreciation for Molina Healthcare (NYSE:MOH) Stock

Molina Healthcare (NYSE:MOH) had its target price increased by Wells Fargo & Company from $360.00 to $362.00 in a research report released on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Stephens reaffirmed an “equal weight” rating and issued a $320.00 price target on shares of Molina Healthcare in a report on Thursday, July 25th. TD Cowen reduced their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their target price on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, Barclays raised their target price on shares of Molina Healthcare from $359.00 to $372.00 and gave the stock an “equal weight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $367.17.

Molina Healthcare Trading Down 2.1 %

Shares of NYSE:MOH opened at $326.43 on Monday. Molina Healthcare has a fifty-two week low of $272.69 and a fifty-two week high of $423.92. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.53. The company has a market cap of $18.67 billion, a PE ratio of 16.58, a P/E/G ratio of 1.14 and a beta of 0.59. The company’s 50-day moving average price is $331.63 and its 200 day moving average price is $327.37.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, topping the consensus estimate of $5.96 by $0.05. The business had revenue of $10.34 billion during 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 company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.05 earnings per share. Sell-side analysts anticipate that Molina Healthcare will post 23.44 earnings per share for the current year.

Insider Buying and Selling at Molina Healthcare

In other news, CAO Maurice Hebert sold 393 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction of $136,182.36. Following the transaction, the chief accounting officer now owns 9,473 shares in the company, valued at $3,282,583.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.11% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

Institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors raised its holdings in Molina Healthcare by 0.9% during the first quarter. Capital International Investors now owns 1,665,801 shares of the company’s stock valued at $684,361,000 after buying an additional 15,264 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 acquiring an additional 111,154 shares during the last quarter. Boston Partners raised its stake in shares of Molina Healthcare by 14.8% in 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Molina Healthcare by 22.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 470,932 shares of the company’s stock worth $140,026,000 after purchasing an additional 84,929 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Molina Healthcare by 36.2% in the 2nd 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 last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

About Molina Healthcare

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.