Molina Healthcare (NYSE:MOH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Molina Healthcare (NYSE:MOH) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently issued reports on the stock. Barclays reduced their price objective on shares of Molina Healthcare from $184.00 to $180.00 and set an “underweight” rating for the company in a research note on Friday, July 24th. Jefferies Financial Group set a $230.00 target price on shares of Molina Healthcare in a report on Tuesday, July 14th. Sanford C. Bernstein set a $286.00 price target on Molina Healthcare in a research note on Monday, July 13th. Truist Financial decreased their price target on Molina Healthcare from $250.00 to $225.00 and set a “hold” rating on the stock in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Molina Healthcare from $169.00 to $191.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $202.44.

Molina Healthcare Trading Down 0.9%

Shares of NYSE:MOH opened at $189.18 on Friday. The stock has a 50 day moving average of $200.30 and a 200 day moving average of $188.34. The company has a market cap of $9.88 billion, a PE ratio of -1,050.96, a price-to-earnings-growth ratio of 27.35 and a beta of 0.75. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.95. Molina Healthcare has a 12-month low of $121.06 and a 12-month high of $244.89.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, July 22nd. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.12. Molina Healthcare had a negative net margin of 0.02% and a positive return on equity of 3.73%. The company had revenue of $10.87 billion during the quarter, compared to analyst estimates of $10.83 billion. During the same period in the prior year, the firm posted $5.48 EPS. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, equities research analysts expect that Molina Healthcare will post 5.29 EPS for the current year.

Hedge Funds Weigh In On Molina Healthcare

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 7G Capital Management LLC purchased a new stake in shares of Molina Healthcare during the 4th quarter valued at about $1,735,000. BNP Paribas Financial Markets lifted its holdings in shares of Molina Healthcare by 63.0% in the 4th quarter. BNP Paribas Financial Markets now owns 439,371 shares of the company’s stock valued at $76,248,000 after acquiring an additional 169,739 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Molina Healthcare by 394.1% in the second quarter. Assenagon Asset Management S.A. now owns 156,632 shares of the company’s stock worth $35,822,000 after acquiring an additional 124,929 shares in the last quarter. Summit Street Capital Management LLC purchased a new position in Molina Healthcare in the second quarter worth about $41,630,000. Finally, Integrated Wealth Concepts LLC increased its stake in Molina Healthcare by 56.9% during the second quarter. Integrated Wealth Concepts LLC now owns 15,669 shares of the company’s stock worth $3,584,000 after acquiring an additional 5,681 shares during the last quarter. 98.50% of the stock is owned by institutional investors.

About Molina Healthcare

Molina Healthcare, Inc is a managed care company that provides health insurance and related services through government-sponsored programs. Its primary lines of business include Medicaid, Medicare, and Affordable Care Act Marketplace plans, with a focus on serving low-income individuals, families, seniors, and people with complex medical needs.

The company offers health plans that coordinate medical, behavioral health, pharmacy, and other care services through contracted provider networks.