Molina Healthcare (NYSE:MOH) Stock Price Up 3.2% – Here’s Why

Molina Healthcare, Inc. (NYSE:MOH) shares shot up 3.2% during mid-day trading on Wednesday . The company traded as high as $318.88 and last traded at $320.53. 41,145 shares were traded during trading, a decline of 94% from the average session volume of 736,212 shares. The stock had previously closed at $310.53.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Truist Financial reduced their target price on Molina Healthcare from $370.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, February 19th. StockNews.com lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating in a report on Monday, March 10th. Stephens reissued an “equal weight” rating and issued a $345.00 price target on shares of Molina Healthcare in a report on Thursday, February 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $350.00 price target (down from $378.00) on shares of Molina Healthcare in a research report on Tuesday, December 17th. Finally, Mizuho lowered their price objective on Molina Healthcare from $382.00 to $376.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Molina Healthcare presently has a consensus rating of “Hold” and an average price target of $355.69.

Molina Healthcare Stock Up 3.3 %

The stock has a 50-day simple moving average of $300.69 and a two-hundred day simple moving average of $308.97. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69. The firm has a market cap of $17.55 billion, a PE ratio of 15.71, a P/E/G ratio of 1.06 and a beta of 0.56.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $5.05 earnings per share for the quarter, missing analysts’ consensus estimates of $5.74 by ($0.69). Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. Analysts expect that Molina Healthcare, Inc. will post 24.4 earnings per share for the current year.

Insider Transactions at Molina Healthcare

In related news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.33, for a total value of $301,330.00. Following the transaction, the director now owns 17,375 shares in the company, valued at $5,235,608.75. This trade represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Molina Healthcare

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in shares of Molina Healthcare by 7.4% in the 4th quarter. Wellington Management Group LLP now owns 2,632,232 shares of the company’s stock valued at $766,111,000 after acquiring an additional 181,073 shares during the last quarter. State Street Corp increased its stake in shares of Molina Healthcare by 0.5% during the third quarter. State Street Corp now owns 2,614,311 shares of the company’s stock valued at $900,787,000 after buying an additional 13,001 shares during the period. FMR LLC increased its position in Molina Healthcare by 31.1% during the 4th quarter. FMR LLC now owns 1,801,113 shares of the company’s stock valued at $524,214,000 after purchasing an additional 427,276 shares during the period. Geode Capital Management LLC increased its position in shares of Molina Healthcare by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 1,436,909 shares of the company’s stock valued at $417,144,000 after buying an additional 34,992 shares during the period. Finally, Invesco Ltd. raised its position in shares of Molina Healthcare by 28.5% in the 4th quarter. Invesco Ltd. now owns 1,327,021 shares of the company’s stock worth $386,229,000 after acquiring an additional 294,180 shares in the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

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.