Molina Healthcare (MOH) Downgraded by Zacks Investment Research
Molina Healthcare (NYSE:MOH) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Molina Healthcare’s shares have outperformed the industry in a year's time. The company’s growing top line, backed by consistent membership rise, positions it for long- term growth. Its inorganic strategies also remain accretive to the revenue base. The company has begun an enterprise-wide restructuring program to reduce expenses and improve overall operational efficiency. However, Molina Healthcare suffers from rising medical care costs along with acute dependence on debt financing that have resulted in higher interest expenses, draining the bottom line. The company will release fourth quarter results on Feb 12, 2017, after market closes.”
A number of other equities analysts also recently weighed in on the company. Morgan Stanley reduced their price target on Molina Healthcare from $97.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. upgraded Molina Healthcare from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 16th. Leerink Swann upped their price objective on Molina Healthcare from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Goldman Sachs Group started coverage on Molina Healthcare in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $83.00 price objective on the stock. Finally, Raymond James Financial reiterated a “hold” rating on shares of Molina Healthcare in a research note on Friday, December 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $71.21.
In other Molina Healthcare news, insider William Dentino sold 67,500 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $77.15, for a total value of $5,207,625.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeff D. Barlow sold 5,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $76.82, for a total value of $384,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 776,455 shares of company stock worth $61,614,520. 6.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Zions Bancorporation acquired a new position in Molina Healthcare in the 3rd quarter valued at $118,000. Tiedemann Wealth Management LLC grew its holdings in shares of Molina Healthcare by 7.8% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 1,440,066 shares of the company’s stock worth $135,000 after purchasing an additional 103,775 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Molina Healthcare by 40.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,404 shares of the company’s stock worth $184,000 after purchasing an additional 690 shares in the last quarter. Connable Office Inc. acquired a new stake in shares of Molina Healthcare during the 4th quarter worth $203,000. Finally, Sabal Trust CO acquired a new stake in shares of Molina Healthcare during the 3rd quarter worth $206,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.
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About Molina Healthcare
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, which includes its Pathways Health and Community Support LLC (Pathways) business.
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