Wells Fargo & Company Begins Coverage on Molina Healthcare (NYSE:MOH)

Wells Fargo & Company assumed coverage on shares of Molina Healthcare (NYSE:MOH) in a report released on Tuesday, Price Targets.com reports. The brokerage issued an underweight rating and a $253.00 price objective on the stock.

Other research analysts also recently issued reports about the company. Truist raised their price objective on Molina Healthcare from $260.00 to $290.00 in a research note on Wednesday, April 14th. Credit Suisse Group initiated coverage on Molina Healthcare in a report on Tuesday, March 30th. They issued an outperform rating and a $260.00 target price on the stock. The Goldman Sachs Group initiated coverage on Molina Healthcare in a report on Thursday, January 21st. They issued a neutral rating and a $217.00 target price on the stock. Mizuho raised their target price on Molina Healthcare from $245.00 to $273.00 and gave the company a buy rating in a report on Thursday, May 6th. Finally, Zacks Investment Research lowered Molina Healthcare from a hold rating to a sell rating and set a $267.00 target price on the stock. in a report on Tuesday, April 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Molina Healthcare presently has a consensus rating of Buy and an average target price of $248.57.

Shares of MOH stock opened at $256.24 on Tuesday. The stock’s 50 day simple moving average is $251.59 and its 200 day simple moving average is $225.70. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.96 and a current ratio of 1.96. Molina Healthcare has a twelve month low of $151.40 and a twelve month high of $273.01. The company has a market capitalization of $14.96 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.65 and a beta of 0.74.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, April 28th. The company reported $4.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.78 by $0.66. Molina Healthcare had a return on equity of 43.16% and a net margin of 4.37%. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.08 billion. During the same period last year, the business earned $2.92 EPS. The firm’s revenue was up 43.4% compared to the same quarter last year. On average, analysts forecast that Molina Healthcare will post 12.81 EPS for the current fiscal year.

In related news, Director Ronna Romney sold 300 shares of the business’s stock in a transaction on Friday, May 7th. The stock was sold at an average price of $262.97, for a total value of $78,891.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Garrey Carruthers sold 825 shares of the business’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $222.50, for a total value of $183,562.50. The disclosure for this sale can be found here. Insiders have sold a total of 5,750 shares of company stock worth $1,466,176 in the last three months. 1.07% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Tealwood Asset Management Inc. boosted its stake in Molina Healthcare by 16.4% in the 4th quarter. Tealwood Asset Management Inc. now owns 6,416 shares of the company’s stock valued at $1,365,000 after buying an additional 905 shares in the last quarter. UBS Asset Management Americas Inc. raised its position in Molina Healthcare by 2.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 296,803 shares of the company’s stock valued at $63,124,000 after purchasing an additional 5,708 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Molina Healthcare by 51.5% in the 4th quarter. Lord Abbett & CO. LLC now owns 212,894 shares of the company’s stock valued at $45,278,000 after purchasing an additional 72,390 shares during the last quarter. Boston Partners raised its position in Molina Healthcare by 0.5% in the 4th quarter. Boston Partners now owns 805,967 shares of the company’s stock valued at $171,414,000 after purchasing an additional 3,647 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Molina Healthcare in the 4th quarter valued at $200,000. 94.89% of the stock is currently owned by institutional investors and hedge funds.

About Molina Healthcare

Molina Healthcare, Inc provides managed health care services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. The company operates in two segments, Health Plans and Other. As of December 31, 2020, it served approximately 4.0 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs in 15 states.

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Analyst Recommendations for Molina Healthcare (NYSE:MOH)

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