Molina Healthcare (NYSE:MOH) Price Target Lowered to $335.00 at Truist Financial

Molina Healthcare (NYSE:MOH - Get Free Report) had its price target decreased by research analysts at Truist Financial from $400.00 to $335.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price target would indicate a potential upside of 54.97% from the stock's current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley downgraded shares of Molina Healthcare from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $364.00 to $266.00 in a research report on Thursday, July 10th. Robert W. Baird reiterated a "neutral" rating and issued a $375.00 price target (up from $331.00) on shares of Molina Healthcare in a report on Tuesday, April 15th. Sanford C. Bernstein assumed coverage on shares of Molina Healthcare in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $414.00 price objective for the company. Mizuho set a $330.00 price objective on shares of Molina Healthcare and gave the stock an "outperform" rating in a research note on Friday, July 11th. Finally, Guggenheim assumed coverage on shares of Molina Healthcare in a research note on Wednesday, April 9th. They issued a "neutral" rating for the company. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $347.57.

Molina Healthcare Stock Up 0.7%

MOH traded up $1.56 during midday trading on Wednesday, reaching $216.17. The company's stock had a trading volume of 1,059,537 shares, compared to its average volume of 722,684. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 0.90 and a beta of 0.55. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.87. Molina Healthcare has a 1 year low of $211.70 and a 1 year high of $365.23. The stock's 50-day moving average is $287.00 and its 200-day moving average is $301.64.

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

Insider Activity at Molina Healthcare

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

Institutional Trading of Molina Healthcare

A number of hedge funds have recently added to or reduced their stakes in MOH. Price T Rowe Associates Inc. MD boosted its holdings in 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 worth $1,264,214,000 after buying an additional 1,216,903 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Molina Healthcare by 74,593.7% during the first quarter. GAMMA Investing LLC now owns 667,015 shares of the company's stock worth $219,708,000 after buying an additional 666,122 shares in the last quarter. Norges Bank purchased a new position in Molina Healthcare during the fourth quarter valued at $134,675,000. FMR LLC lifted its holdings in Molina Healthcare by 31.1% during the fourth quarter. FMR LLC now owns 1,801,113 shares of the company's stock valued at $524,214,000 after purchasing an additional 427,276 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in Molina Healthcare by 1,641.3% during the fourth quarter. Voloridge Investment Management LLC now owns 409,807 shares of the company's stock valued at $119,274,000 after purchasing an additional 386,273 shares in the last quarter. 98.50% of the stock is owned by hedge funds and other 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.