Molina Healthcare Inc. (MOH) Sees Unusually-High Trading Volume
Molina Healthcare Inc. (NYSE:MOH) shares saw an uptick in trading volume on Friday . 804,130 shares changed hands during trading, an increase of 31% from the previous session’s volume of 612,623 shares.The stock last traded at $55.00 and had previously closed at $53.54.
Several research firms recently commented on MOH. Jefferies Group reaffirmed a “buy” rating and set a $63.00 target price (down previously from $66.00) on shares of Molina Healthcare in a research note on Thursday, July 28th. Leerink Swann reissued a “buy” rating on shares of Molina Healthcare in a research note on Thursday, July 28th. Cantor Fitzgerald reissued a “hold” rating and issued a $55.00 price objective on shares of Molina Healthcare in a research note on Friday, July 29th. Zacks Investment Research raised Molina Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Molina Healthcare in a research note on Tuesday, June 28th. Three research 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 has an average rating of “Hold” and a consensus price target of $65.75.
The company has a 50 day moving average price of $55.38 and a 200 day moving average price of $55.96. The firm has a market cap of $3.14 billion and a price-to-earnings ratio of 23.95.
Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.18. The business had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. Equities research analysts anticipate that Molina Healthcare Inc. will post $2.72 EPS for the current fiscal year.
In other news, Director Steven J. Orlando sold 2,500 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $58.82, for a total value of $147,050.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph W. Cpa White sold 6,676 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $58.48, for a total value of $390,412.48. The disclosure for this sale can be found here.
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.