Molina Healthcare Inc. (MOH) Stock Rating Upgraded by Goldman Sachs Group Inc.
Molina Healthcare Inc. (NYSE:MOH) was upgraded by Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a research note issued to investors on Monday. The firm currently has a $58.00 price target on the stock, up from their previous price target of $51.00. Goldman Sachs Group Inc.’s target price suggests a potential upside of 2.04% from the company’s current price.
Several other equities analysts have also issued reports on the company. Jefferies Group reaffirmed a “buy” rating and issued a $63.00 price target (down previously from $66.00) on shares of Molina Healthcare in a research report on Thursday, July 28th. Leerink Swann reaffirmed a “buy” rating on shares of Molina Healthcare in a research report on Thursday, July 28th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Molina Healthcare in a research report on Tuesday, June 28th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $55.00 price target on shares of Molina Healthcare in a research report on Friday, July 29th. Finally, Zacks Investment Research lowered Molina Healthcare from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $63.30.
Shares of Molina Healthcare (NYSE:MOH) opened at 56.84 on Monday. The firm’s 50-day moving average is $56.26 and its 200 day moving average is $55.34. Molina Healthcare has a 12-month low of $44.50 and a 12-month high of $77.70. The stock has a market capitalization of $3.23 billion, a P/E ratio of 24.61 and a beta of 1.67.
Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.49 by $0.18. The business earned $4.36 billion during the quarter, compared to analyst estimates of $4.35 billion. Molina Healthcare had a return on equity of 9.60% and a net margin of 0.83%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 earnings per share. On average, equities research analysts forecast that Molina Healthcare will post $2.75 EPS for the current fiscal year.
In other Molina Healthcare news, Director Steven J. Orlando sold 2,500 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $58.82, for a total transaction of $147,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Terry Bayer sold 8,250 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $58.00, for a total value of $478,500.00. Following the sale, the chief operating officer now owns 176,834 shares of the company’s stock, valued at $10,256,372. The disclosure for this sale can be found here. Company insiders own 6.89% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. purchased a new stake in Molina Healthcare during the first quarter worth about $835,000. Acrospire Investment Management LLC purchased a new stake in Molina Healthcare during the first quarter worth about $297,000. BlackRock Japan Co. Ltd increased its stake in Molina Healthcare by 9.0% in the first quarter. BlackRock Japan Co. Ltd now owns 1,848 shares of the company’s stock worth $119,000 after buying an additional 152 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Molina Healthcare by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,321,011 shares of the company’s stock worth $85,192,000 after buying an additional 22,548 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in Molina Healthcare by 16.7% in the first quarter. BlackRock Group LTD now owns 37,967 shares of the company’s stock worth $2,450,000 after buying an additional 5,428 shares in the last quarter. Institutional investors and hedge funds own 87.58% of the company’s stock.
Molina Healthcare Company Profile
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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