Molina Healthcare Inc. (MOH) Shares Down 3.4%
Molina Healthcare Inc. (NYSE:MOH)’s share price dropped 3.4% during mid-day trading on Wednesday . The stock traded as low as $55.36 and last traded at $55.45, with a volume of 326,296 shares trading hands. The stock had previously closed at $57.40.
MOH has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $82.00 target price (up from $68.00) on shares of Molina Healthcare in a research note on Friday, April 29th. Bank of America Corp. cut shares of Molina Healthcare from a “neutral” rating to an “underperform” rating in a research report on Friday, April 29th. Stifel Nicolaus reduced their price objective on shares of Molina Healthcare from $83.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, April 29th. Leerink Swann restated an “outperform” rating and set a $75.00 price objective (down from $105.00) on shares of Molina Healthcare in a research report on Saturday, April 30th. Finally, Morgan Stanley restated a “hold” rating on shares of Molina Healthcare in a research report on Saturday, April 30th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $65.75.
The stock’s 50 day moving average price is $53.89 and its 200 day moving average price is $55.86. The stock has a market capitalization of $3.17 billion and a PE ratio of 24.14.
Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.18. The firm earned $4.36 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the business earned $0.72 earnings per share. The business’s quarterly revenue was up 23.7% on a year-over-year basis. On average, equities research analysts expect that Molina Healthcare Inc. will post $2.72 EPS for the current fiscal year.
In other Molina Healthcare news, insider Joseph W. Cpa White sold 6,676 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $58.48, for a total value of $390,412.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronna Romney sold 750 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $55.00, for a total value of $41,250.00. The disclosure for this sale can be found here.
A number of large investors have added to or reduced their stakes in MOH. BNP Paribas Arbitrage SA increased its stake in Molina Healthcare by 17.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 205,637 shares of the company’s stock worth $12,365,000 after buying an additional 30,164 shares during the period. Systematic Financial Management LP increased its stake in Molina Healthcare by 1.2% in the fourth quarter. Systematic Financial Management LP now owns 107,076 shares of the company’s stock worth $6,438,000 after buying an additional 1,273 shares during the period. Calvert Investment Management Inc. acquired a new stake in Molina Healthcare during the fourth quarter worth approximately $4,577,000. Matarin Capital Management LLC acquired a new stake in Molina Healthcare during the fourth quarter worth approximately $4,484,000. Finally, Mutual of America Capital Management LLC increased its stake in Molina Healthcare by 3.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 28,039 shares of the company’s stock worth $1,686,000 after buying an additional 887 shares during the period.
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other. Its Health Plans segment consists of health plans in approximately 10 states and the Commonwealth of Puerto Rico, and its direct delivery business.
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