Barclays Cuts Molina Healthcare (NYSE:MOH) Price Target to $185.00

Molina Healthcare (NYSE:MOH) had its price objective cut by Barclays from $186.00 to $185.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 6.01% from the company’s current price.

A number of other brokerages have also commented on MOH. Cantor Fitzgerald reiterated a “neutral” rating and issued a $210.00 price target on shares of Molina Healthcare in a research note on Tuesday, August 26th. Robert W. Baird decreased their price target on shares of Molina Healthcare from $373.00 to $179.00 and set a “neutral” rating on the stock in a research note on Friday, July 25th. JPMorgan Chase & Co. dropped their target price on Molina Healthcare from $272.00 to $184.00 and set a “neutral” rating for the company in a report on Tuesday, July 29th. Truist Financial restated a “hold” rating and set a $180.00 target price (down previously from $335.00) on shares of Molina Healthcare in a research report on Friday, July 25th. Finally, Wells Fargo & Company decreased their target price on shares of Molina Healthcare from $216.00 to $198.00 and set an “overweight” rating on the stock in a research report on Friday, August 15th. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $225.18.

Molina Healthcare Stock Up 2.2%

Molina Healthcare stock opened at $174.51 on Thursday. The firm has a market capitalization of $9.46 billion, a PE ratio of 8.60 and a beta of 0.54. The company’s 50-day moving average is $187.75 and its 200-day moving average is $269.99. Molina Healthcare has a fifty-two week low of $151.95 and a fifty-two week high of $365.23. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.66 and a quick ratio of 1.66.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $5.48 EPS for the quarter, missing analysts’ consensus estimates of $5.50 by ($0.02). Molina Healthcare had a net margin of 2.60% and a return on equity of 27.72%. The company had revenue of $11.43 billion during the quarter, compared to analyst estimates of $10.94 billion. During the same quarter last year, the company posted $5.86 EPS. The firm’s quarterly revenue was up 15.7% on a year-over-year basis. Sell-side analysts anticipate that Molina Healthcare will post 24.4 earnings per share for the current year.

Insider Buying and Selling

In other news, COO James Woys purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 4th. The stock was bought at an average price of $155.94 per share, with a total value of $1,559,400.00. Following the acquisition, the chief operating officer owned 74,331 shares in the company, valued at approximately $11,591,176.14. The trade was a 15.54% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronna Romney sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $153.74, for a total transaction of $107,618.00. Following the sale, the director directly owned 17,131 shares of the company’s stock, valued at approximately $2,633,719.94. This trade represents a 3.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Molina Healthcare

Several institutional investors and hedge funds have recently added to or reduced their stakes in MOH. Aptus Capital Advisors LLC bought a new position in Molina Healthcare in the 4th quarter valued at approximately $264,000. BNP Paribas Financial Markets lifted its stake in Molina Healthcare by 138.4% in the 4th quarter. BNP Paribas Financial Markets now owns 177,150 shares of the company’s stock valued at $51,560,000 after purchasing an additional 102,840 shares during the last quarter. Centiva Capital LP bought a new position in Molina Healthcare in the 4th quarter valued at approximately $1,235,000. Colonial Trust Co SC lifted its stake in Molina Healthcare by 930.0% in the 4th quarter. Colonial Trust Co SC now owns 103 shares of the company’s stock valued at $30,000 after purchasing an additional 93 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Molina Healthcare by 12.6% in the 4th quarter. Deutsche Bank AG now owns 338,460 shares of the company’s stock valued at $98,509,000 after purchasing an additional 37,941 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

About Molina Healthcare

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.