Molina Healthcare (NYSE:MOH) Stock Price Down 4.2% After Analyst Downgrade

Shares of Molina Healthcare, Inc (NYSE:MOH - Get Free Report) dropped 4.2% during trading on Thursday after Truist Financial lowered their price target on the stock from $400.00 to $335.00. Truist Financial currently has a buy rating on the stock. Molina Healthcare traded as low as $200.63 and last traded at $206.91. Approximately 374,737 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 721,640 shares. The stock had previously closed at $216.06.

A number of other equities analysts have also recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Molina Healthcare in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $414.00 price target on the stock. Guggenheim assumed coverage on shares of Molina Healthcare in a research note on Wednesday, April 9th. They set a "neutral" rating on the stock. Morgan Stanley cut shares of Molina Healthcare from an "overweight" rating to an "equal weight" rating and lowered their price target for the stock from $364.00 to $266.00 in a research note on Thursday, July 10th. Wall Street Zen cut shares of Molina Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, June 29th. Finally, Mizuho set a $330.00 price target on shares of Molina Healthcare and gave the stock an "outperform" rating in a research note on Friday, July 11th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $347.57.

Insider Buying and Selling

In other Molina Healthcare news, Director Richard M. Schapiro sold 669 shares of Molina Healthcare stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $320.50, for a total value of $214,414.50. Following the completion of the transaction, the director owned 11,244 shares of the company's stock, valued at $3,603,702. The trade was a 5.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Joseph M. Zubretsky sold 87,500 shares of Molina Healthcare stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $320.06, for a total transaction of $28,005,250.00. Following the completion of the transaction, the chief executive officer directly owned 257,715 shares of the company's stock, valued at approximately $82,484,262.90. This represents a 25.35% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Molina Healthcare

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Molina Healthcare by 46.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,838,043 shares of the company's stock valued at $1,264,214,000 after purchasing an additional 1,216,903 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Molina Healthcare by 74,593.7% during the first quarter. GAMMA Investing LLC now owns 667,015 shares of the company's stock valued at $219,708,000 after purchasing an additional 666,122 shares in the last quarter. Norges Bank bought a new stake in shares of Molina Healthcare during the fourth quarter valued at about $134,675,000. FMR LLC raised its position in Molina Healthcare by 31.1% in the fourth quarter. FMR LLC now owns 1,801,113 shares of the company's stock worth $524,214,000 after acquiring an additional 427,276 shares in the last quarter. Finally, Voloridge Investment Management LLC raised its position in Molina Healthcare by 1,641.3% in the fourth quarter. Voloridge Investment Management LLC now owns 409,807 shares of the company's stock worth $119,274,000 after acquiring an additional 386,273 shares in the last quarter. 98.50% of the stock is currently owned by institutional investors.

Molina Healthcare Trading Down 10.7%

The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.87. The firm's 50-day simple moving average is $284.56 and its 200 day simple moving average is $301.05. The stock has a market capitalization of $9.89 billion, a P/E ratio of 8.81, a PEG ratio of 0.90 and a beta of 0.55.

Molina Healthcare (NYSE:MOH - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $6.08 earnings per share for the quarter, topping analysts' consensus estimates of $5.96 by $0.12. The firm had revenue of $11.15 billion for the quarter, compared to analysts' expectations of $10.86 billion. Molina Healthcare had a return on equity of 28.38% and a net margin of 2.81%. Molina Healthcare's revenue was up 12.2% on a year-over-year basis. During the same quarter last year, the business posted $5.73 EPS. Equities research analysts anticipate that Molina Healthcare, Inc will post 24.4 EPS for the current fiscal year.

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.