Molina Healthcare (NYSE:MOH) Trading Up 3.3% – Here’s What Happened

Molina Healthcare, Inc. (NYSE:MOH)’s share price rose 3.3% during mid-day trading on Tuesday . The company traded as high as $314.08 and last traded at $312.88. Approximately 96,515 shares were traded during trading, a decline of 87% from the average daily volume of 739,485 shares. The stock had previously closed at $302.84.

Analyst Ratings Changes

A number of research firms recently weighed in on MOH. Mizuho lowered their price target on shares of Molina Healthcare from $382.00 to $376.00 and set an “outperform” rating on the stock in a research report on Monday. Wells Fargo & Company boosted their target price on Molina Healthcare from $360.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Truist Financial cut their price target on Molina Healthcare from $370.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. UBS Group lowered their price objective on Molina Healthcare from $374.00 to $325.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $345.00 target price on shares of Molina Healthcare in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Molina Healthcare has an average rating of “Hold” and a consensus target price of $354.92.

Molina Healthcare Price Performance

The company has a market cap of $16.98 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.06 and a beta of 0.54. The stock’s 50-day simple moving average is $293.43 and its 200 day simple moving average is $312.27. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. On average, equities research analysts anticipate that Molina Healthcare, Inc. will post 24.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Molina Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the company. Colonial Trust Co SC boosted its holdings in shares of Molina Healthcare by 930.0% in the 4th quarter. Colonial Trust Co SC now owns 103 shares of the company’s stock valued at $30,000 after buying an additional 93 shares in the last quarter. True Wealth Design LLC boosted its stake in Molina Healthcare by 2,500.0% in the third quarter. True Wealth Design LLC now owns 104 shares of the company’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Molina Healthcare by 83.1% during the fourth quarter. Versant Capital Management Inc now owns 163 shares of the company’s stock worth $47,000 after purchasing an additional 74 shares during the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Molina Healthcare during the fourth quarter worth about $52,000. Finally, Hurley Capital LLC acquired a new stake in shares of Molina Healthcare during the fourth quarter worth about $55,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.