Truist Financial Has Lowered Expectations for Molina Healthcare (NYSE:MOH) Stock Price

Molina Healthcare (NYSE:MOH) had its target price reduced by Truist Financial from $400.00 to $370.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 24.97% from the company’s previous close.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $350.00 price target (down from $378.00) on shares of Molina Healthcare in a report on Tuesday, December 17th. Robert W. Baird cut their price target on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. StockNews.com upgraded Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Barclays boosted their target price on shares of Molina Healthcare from $359.00 to $372.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. Finally, Wells Fargo & Company boosted their price target on Molina Healthcare from $360.00 to $362.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Molina Healthcare presently has an average rating of “Hold” and an average price target of $359.18.

Molina Healthcare Price Performance

Shares of MOH stock opened at $296.06 on Monday. Molina Healthcare has a twelve month low of $272.69 and a twelve month high of $423.92. The company has a current ratio of 1.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $302.88 and a two-hundred day simple moving average of $317.62. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 1.04 and a beta of 0.54.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, topping analysts’ consensus estimates of $5.96 by $0.05. The company had revenue of $10.34 billion during the quarter, compared to analyst estimates of $9.92 billion. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.05 earnings per share. On average, analysts predict that Molina Healthcare will post 23.44 EPS for the current fiscal year.

Institutional Trading of Molina Healthcare

A number of institutional investors have recently made changes to their positions in the company. True Wealth Design LLC lifted its holdings in Molina Healthcare by 2,500.0% in the 3rd quarter. True Wealth Design LLC now owns 104 shares of the company’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Molina Healthcare in the second quarter worth about $40,000. Versant Capital Management Inc boosted its position in Molina Healthcare by 83.1% during the fourth quarter. Versant Capital Management Inc now owns 163 shares of the company’s stock worth $47,000 after acquiring an additional 74 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Molina Healthcare during the 3rd quarter valued at about $62,000. Finally, UMB Bank n.a. raised its holdings in Molina Healthcare by 96.2% in the 3rd quarter. UMB Bank n.a. now owns 206 shares of the company’s stock valued at $71,000 after acquiring an additional 101 shares during the last quarter. 98.50% of the stock is owned by institutional investors and hedge funds.

Molina Healthcare Company Profile

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.