Molina Healthcare (NYSE:MOH) Shares Down 3.2% on Analyst Downgrade

Molina Healthcare, Inc. (NYSE:MOH)’s share price fell 3.2% during mid-day trading on Friday after Barclays lowered their price target on the stock from $437.00 to $430.00. Barclays currently has an equal weight rating on the stock. Molina Healthcare traded as low as $336.87 and last traded at $341.18. 84,491 shares were traded during mid-day trading, a decline of 79% from the average session volume of 397,431 shares. The stock had previously closed at $352.30.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Molina Healthcare from $440.00 to $410.00 and set an “equal weight” rating for the company in a report on Monday, April 15th. Bank of America cut shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price objective for the company. in a research note on Thursday, March 28th. Truist Financial raised their price objective on shares of Molina Healthcare from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. StockNews.com cut shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Molina Healthcare presently has a consensus rating of “Hold” and an average target price of $396.09.

Insiders Place Their Bets

In other Molina Healthcare news, Director Richard M. Schapiro sold 1,000 shares of Molina Healthcare stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total value of $401,050.00. Following the transaction, the director now owns 11,207 shares in the company, valued at approximately $4,494,567.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Richard M. Schapiro sold 1,000 shares of Molina Healthcare stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total transaction of $401,050.00. Following the transaction, the director now owns 11,207 shares in the company, valued at approximately $4,494,567.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard M. Schapiro sold 711 shares of Molina Healthcare stock in a transaction on Monday, February 12th. The shares were sold at an average price of $384.06, for a total transaction of $273,066.66. Following the transaction, the director now owns 12,207 shares in the company, valued at approximately $4,688,220.42. The disclosure for this sale can be found here. In the last three months, insiders sold 16,711 shares of company stock valued at $6,472,517. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC increased its position in shares of Molina Healthcare by 8.7% in the 3rd quarter. CWM LLC now owns 1,395 shares of the company’s stock worth $457,000 after purchasing an additional 112 shares during the last quarter. AE Wealth Management LLC increased its position in shares of Molina Healthcare by 33.5% in the 3rd quarter. AE Wealth Management LLC now owns 1,159 shares of the company’s stock worth $380,000 after purchasing an additional 291 shares during the last quarter. Czech National Bank increased its position in shares of Molina Healthcare by 47.6% in the 3rd quarter. Czech National Bank now owns 10,189 shares of the company’s stock worth $3,341,000 after purchasing an additional 3,288 shares during the last quarter. Ballentine Partners LLC increased its position in shares of Molina Healthcare by 1.4% in the 3rd quarter. Ballentine Partners LLC now owns 2,940 shares of the company’s stock worth $964,000 after purchasing an additional 41 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of Molina Healthcare by 1.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 17,879 shares of the company’s stock worth $5,862,000 after purchasing an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

Molina Healthcare Trading Down 2.8 %

The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average is $391.53 and its two-hundred day moving average is $371.87. The firm has a market cap of $20.05 billion, a P/E ratio of 19.12, a P/E/G ratio of 1.03 and a beta of 0.47.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $5.73 earnings per share for the quarter, beating analysts’ consensus estimates of $5.46 by $0.27. Molina Healthcare had a net margin of 2.99% and a return on equity of 30.99%. The business had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $9.45 billion. During the same quarter in the prior year, the firm earned $5.81 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, analysts expect that Molina Healthcare, Inc. 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.