Cowen and Company started coverage on shares of Molina Healthcare, Inc. (NYSE:MOH) in a research report released on Wednesday. The firm issued a market perform rating and a $48.00 price target on the stock.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded Molina Healthcare from a hold rating to a buy rating and set a $64.00 price target for the company in a report on Tuesday, January 10th. Goldman Sachs Group Inc upgraded Molina Healthcare from a neutral rating to a buy rating and set a $65.00 price target for the company in a report on Tuesday, December 13th. TheStreet downgraded Molina Healthcare from a b rating to a c+ rating in a report on Thursday, February 16th. Jefferies Group LLC downgraded Molina Healthcare from a buy rating to a hold rating and set a $59.00 price target for the company. in a report on Thursday, December 15th. Finally, Stifel Nicolaus downgraded Molina Healthcare from a buy rating to a hold rating and lowered their price target for the company from $64.00 to $45.00 in a report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Molina Healthcare has a consensus rating of Hold and a consensus price target of $59.00.
Shares of Molina Healthcare (NYSE:MOH) opened at 44.54 on Wednesday. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 48.41 and a beta of 0.96. Molina Healthcare has a 1-year low of $43.91 and a 1-year high of $67.87. The stock has a 50 day moving average of $52.00 and a 200 day moving average of $54.65.
Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, February 15th. The company reported ($1.54) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by $2.29. Molina Healthcare had a net margin of 0.76% and a return on equity of 9.38%. The company earned $4.46 billion during the quarter, compared to analyst estimates of $4.55 billion. Analysts predict that Molina Healthcare will post $2.06 EPS for the current year.
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In other Molina Healthcare news, Director Garrey Carruthers sold 3,100 shares of the company’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $49.22, for a total value of $152,582.00. Following the completion of the transaction, the director now directly owns 8,365 shares of the company’s stock, valued at approximately $411,725.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronna Romney sold 1,943 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $48.82, for a total transaction of $94,857.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,384 shares of company stock valued at $1,248,013. 6.89% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Molina Healthcare during the fourth quarter worth $29,447,000. Cambiar Investors LLC purchased a new position in Molina Healthcare during the third quarter worth $22,306,000. Dimensional Fund Advisors LP boosted its position in Molina Healthcare by 20.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,206,833 shares of the company’s stock worth $119,744,000 after buying an additional 367,903 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in Molina Healthcare during the third quarter worth $17,016,000. Finally, Rothschild Asset Management Inc. boosted its position in Molina Healthcare by 87.6% in the third quarter. Rothschild Asset Management Inc. now owns 520,438 shares of the company’s stock worth $30,352,000 after buying an additional 242,948 shares during the last quarter. 90.72% of the stock is owned by institutional investors.
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. 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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