Molina Healthcare (NYSE:MOH) Trading 3.8% Higher – Here’s What Happened

Molina Healthcare, Inc. (NYSE:MOH)’s share price rose 3.8% during trading on Thursday . The company traded as high as $338.49 and last traded at $341.02. Approximately 32,575 shares changed hands during trading, a decline of 95% from the average daily volume of 632,248 shares. The stock had previously closed at $328.49.

Analyst Ratings Changes

MOH has been the topic of a number of recent research reports. Mizuho reduced their target price on shares of Molina Healthcare from $382.00 to $376.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. JPMorgan Chase & Co. reissued a “neutral” rating and set a $350.00 price objective (down previously from $378.00) on shares of Molina Healthcare in a research note on Tuesday, December 17th. Truist Financial lowered their target price on shares of Molina Healthcare from $370.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Stephens reissued an “equal weight” rating and set a $345.00 price target on shares of Molina Healthcare in a research note on Thursday, February 6th. Finally, Wells Fargo & Company raised Molina Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $295.00 to $372.00 in a research report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $348.75.

Molina Healthcare Stock Performance

The stock’s 50-day moving average is $306.76 and its 200-day moving average is $308.73. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of 17.00, a P/E/G ratio of 1.06 and a beta of 0.56.

Molina Healthcare (NYSE:MOH) last released 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 return on equity of 28.13% and a net margin of 2.90%. On average, analysts expect that Molina Healthcare, Inc. will post 24.4 EPS for the current year.

Insider Transactions at Molina Healthcare

In other news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.33, for a total transaction of $301,330.00. Following the transaction, the director now directly owns 17,375 shares of the company’s stock, valued at approximately $5,235,608.75. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Molina Healthcare during the fourth quarter valued at about $134,675,000. FMR LLC boosted its holdings in Molina Healthcare by 31.1% in the fourth quarter. FMR LLC now owns 1,801,113 shares of the company’s stock valued at $524,214,000 after purchasing an additional 427,276 shares during the last quarter. Voloridge Investment Management LLC grew its stake in Molina Healthcare by 1,641.3% during the 4th quarter. Voloridge Investment Management LLC now owns 409,807 shares of the company’s stock valued at $119,274,000 after purchasing an additional 386,273 shares in the last quarter. Invesco Ltd. increased its holdings in Molina Healthcare by 28.5% during the 4th quarter. Invesco Ltd. now owns 1,327,021 shares of the company’s stock worth $386,229,000 after purchasing an additional 294,180 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Molina Healthcare by 7.4% in the 4th quarter. Wellington Management Group LLP now owns 2,632,232 shares of the company’s stock valued at $766,111,000 after purchasing an additional 181,073 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.