Molina Healthcare, Inc. (NYSE:MOH) Sees Significant Drop in Short Interest

Molina Healthcare, Inc. (NYSE:MOH - Get Free Report) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 956,100 shares, a drop of 16.9% from the March 31st total of 1,150,000 shares. Currently, 1.7% of the company's shares are short sold. Based on an average trading volume of 400,900 shares, the days-to-cover ratio is presently 2.4 days.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now directly owns 12,207 shares of the company's stock, valued at $4,688,220.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now directly owns 12,207 shares of the company's stock, valued at $4,688,220.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard M. Schapiro sold 1,000 shares of the firm's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total value of $401,050.00. Following the completion of the transaction, the director now directly owns 11,207 shares in the company, valued at $4,494,567.35. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,711 shares of company stock worth $6,472,517. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Molina Healthcare

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AE Wealth Management LLC lifted its position in Molina Healthcare by 33.5% in the 3rd quarter. AE Wealth Management LLC now owns 1,159 shares of the company's stock valued at $380,000 after acquiring an additional 291 shares in the last quarter. Czech National Bank lifted its position in Molina Healthcare by 47.6% in the 3rd quarter. Czech National Bank now owns 10,189 shares of the company's stock valued at $3,341,000 after acquiring an additional 3,288 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Molina Healthcare by 1.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,879 shares of the company's stock valued at $5,862,000 after acquiring an additional 192 shares in the last quarter. Hendershot Investments Inc. bought a new stake in Molina Healthcare in the 3rd quarter valued at $3,257,000. Finally, SVB Wealth LLC bought a new stake in Molina Healthcare in the 3rd quarter valued at $204,000. 98.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MOH shares. Truist Financial lifted their target price on Molina Healthcare from $435.00 to $460.00 and gave the stock a "buy" rating in a research report on Tuesday, February 20th. StockNews.com lowered Molina Healthcare from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $406.00 target price on shares of Molina Healthcare in a research report on Thursday, April 4th. Stephens reaffirmed an "equal weight" rating and set a $390.00 target price on shares of Molina Healthcare in a research report on Thursday. Finally, Bank of America downgraded Molina Healthcare from a "neutral" rating to an "underperform" rating and set a $439.00 price target for the company. in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $396.09.

Molina Healthcare Stock Down 2.9 %

Shares of NYSE MOH traded down $10.07 during mid-day trading on Friday, reaching $342.23. The company had a trading volume of 595,215 shares, compared to its average volume of 431,658. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.54 and a current ratio of 1.49. The stock has a market capitalization of $20.05 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 0.96 and a beta of 0.47. Molina Healthcare has a twelve month low of $266.35 and a twelve month high of $423.92. The stock's 50 day moving average is $390.34 and its 200-day moving average is $372.12.

Molina Healthcare (NYSE:MOH - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.46 by $0.27. The company had revenue of $9.93 billion during the quarter, compared to analysts' expectations of $9.45 billion. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. The business's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company earned $5.81 earnings per share. As a group, equities analysts anticipate that Molina Healthcare will post 23.62 earnings per share 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.