Molina Healthcare (NYSE:MOH) Sets New 1-Year Low - Here's What Happened

Key Points

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Molina Healthcare, Inc (NYSE:MOH - Get Free Report)'s share price hit a new 52-week low on Thursday . The company traded as low as $155.53 and last traded at $156.62, with a volume of 140415 shares trading hands. The stock had previously closed at $159.97.

Analysts Set New Price Targets

A number of analysts have weighed in on MOH shares. Wall Street Zen lowered shares of Molina Healthcare from a "buy" rating to a "hold" rating in a research report on Sunday, June 29th. Baird R W lowered shares of Molina Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Cantor Fitzgerald restated a "neutral" rating and issued a $210.00 target price (down previously from $312.00) on shares of Molina Healthcare in a research report on Friday, July 25th. JPMorgan Chase & Co. cut their target price on shares of Molina Healthcare from $272.00 to $184.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company cut their target price on shares of Molina Healthcare from $372.00 to $216.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Molina Healthcare currently has a consensus rating of "Hold" and a consensus target price of $244.55.

Molina Healthcare Trading Down 1.7%

The company has a market cap of $8.41 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 4.42 and a beta of 0.55. The business's fifty day moving average price is $251.63 and its 200 day moving average price is $291.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.66.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $5.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.50 by ($0.02). The firm had revenue of $11.43 billion during the quarter, compared to analyst estimates of $10.94 billion. Molina Healthcare had a net margin of 2.60% and a return on equity of 27.72%. Molina Healthcare's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.86 EPS. Research analysts anticipate that Molina Healthcare, Inc will post 24.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Molina Healthcare

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Molina Healthcare by 124.4% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 26,700 shares of the company's stock valued at $7,954,000 after buying an additional 14,800 shares during the period. SYM FINANCIAL Corp lifted its holdings in Molina Healthcare by 60.2% in the second quarter. SYM FINANCIAL Corp now owns 1,091 shares of the company's stock valued at $325,000 after buying an additional 410 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Molina Healthcare in the second quarter valued at $2,940,000. Envestnet Asset Management Inc. lifted its holdings in Molina Healthcare by 71.8% in the second quarter. Envestnet Asset Management Inc. now owns 27,386 shares of the company's stock valued at $8,158,000 after buying an additional 11,441 shares during the period. Finally, Wealthfront Advisers LLC lifted its holdings in Molina Healthcare by 33.6% in the second quarter. Wealthfront Advisers LLC now owns 48,055 shares of the company's stock valued at $14,316,000 after buying an additional 12,075 shares during the period. 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.