Molina Healthcare (NYSE:MOH) Releases Earnings Results, Beats Estimates By $0.12 EPS

Molina Healthcare (NYSE:MOH) issued its quarterly earnings data on Wednesday. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.12, FiscalAI reports. The business had revenue of $10.87 billion during the quarter, compared to analysts’ expectations of $10.83 billion. Molina Healthcare had a net margin of 0.42% and a return on equity of 8.76%.

Molina Healthcare Stock Performance

Molina Healthcare stock traded down $3.40 during mid-day trading on Wednesday, reaching $223.13. The company had a trading volume of 2,172,678 shares, compared to its average volume of 1,537,905. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.97. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 66.02 and a beta of 0.74. The company has a 50 day moving average of $205.04 and a 200-day moving average of $176.37. Molina Healthcare has a 52 week low of $121.06 and a 52 week high of $244.89.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Molina Healthcare from $205.00 to $250.00 and gave the stock a “hold” rating in a report on Tuesday, July 14th. Barclays decreased their price target on shares of Molina Healthcare from $199.00 to $184.00 and set an “underweight” rating for the company in a report on Wednesday, July 8th. Jefferies Financial Group set a $230.00 price target on Molina Healthcare in a research report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $129.00 price objective on shares of Molina Healthcare in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on Molina Healthcare from $169.00 to $191.00 and gave the company a “neutral” rating in a research note on Monday, June 8th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $207.06.

Insider Activity

In other news, insider Jeff D. Barlow sold 17,811 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $186.12, for a total transaction of $3,314,983.32. Following the completion of the transaction, the insider owned 67,175 shares of the company’s stock, valued at approximately $12,502,611. This represents a 20.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maurice Hebert sold 600 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $191.55, for a total transaction of $114,930.00. Following the completion of the sale, the chief accounting officer owned 12,815 shares of the company’s stock, valued at approximately $2,454,713.25. The trade was a 4.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.44% of the company’s stock.

Institutional Trading of Molina Healthcare

A number of hedge funds have recently modified their holdings of MOH. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Molina Healthcare by 0.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,668 shares of the company’s stock worth $2,616,000 after buying an additional 92 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Molina Healthcare by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,753 shares of the company’s stock valued at $3,206,000 after buying an additional 104 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Molina Healthcare by 96.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 249 shares of the company’s stock valued at $43,000 after acquiring an additional 122 shares in the last quarter. Beacon Pointe Advisors LLC lifted its stake in Molina Healthcare by 9.9% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,416 shares of the company’s stock valued at $246,000 after acquiring an additional 128 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in Molina Healthcare during the 2nd quarter worth approximately $48,000. Institutional investors own 98.50% of the company’s stock.

About Molina Healthcare

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.