Molina Healthcare (NYSE:MOH) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

Shares of Molina Healthcare, Inc (NYSE:MOH) crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $200.62 and traded as high as $206.44. Molina Healthcare shares last traded at $204.88, with a volume of 1,752,804 shares traded.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Molina Healthcare from $220.00 to $225.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group raised their price objective on shares of Molina Healthcare from $202.00 to $225.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Mizuho set a $255.00 price objective on shares of Molina Healthcare in a research report on Friday, October 23rd. Truist Financial lowered their target price on shares of Molina Healthcare from $250.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 24th. Finally, Zacks Research downgraded shares of Molina Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $213.88.

Molina Healthcare Price Performance

The stock has a market cap of $10.69 billion, a price-to-earnings ratio of -213.41, a PEG ratio of 11.74 and a beta of 0.78. The company has a 50-day moving average of $200.62 and a 200-day moving average of $184.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.69 and a current ratio of 1.69.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, October 21st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Molina Healthcare had a positive return on equity of 2.50% and a negative net margin of 0.11%. The business had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $10.86 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, equities research analysts predict that Molina Healthcare, Inc will post 5.30 earnings per share for the current year.

Hedge Funds Weigh In On Molina Healthcare

Several institutional investors have recently bought and sold shares of the company. Provenance Wealth Advisors LLC boosted its stake in shares of Molina Healthcare by 48,433.3% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 1,456 shares of the company’s stock worth $275,000 after acquiring an additional 1,453 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Molina Healthcare during the 3rd quarter worth about $503,000. ProShare Advisors LLC purchased a new stake in shares of Molina Healthcare during the third quarter worth about $375,000. Vise Technologies Inc. raised its holdings in Molina Healthcare by 56.7% in the 3rd quarter. Vise Technologies Inc. now owns 6,380 shares of the company’s stock valued at $1,206,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Cidel Asset Management Inc. increased its stake in Molina Healthcare by 6.6% in the third quarter. Cidel Asset Management Inc. now owns 1,594 shares of the company’s stock valued at $301,000 after purchasing an additional 98 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

About Molina Healthcare

Molina Healthcare, Inc is a managed-care company that provides health insurance and related services primarily through government-sponsored programs. Its offerings include Medicaid, Medicare, Medicare-Medicaid dual-eligible plans and health plans sold through government marketplaces under the Affordable Care Act.

The company’s services generally include medical care coordination, behavioral health support, pharmacy benefits and, depending on the plan and state, dental and vision benefits.