Molina Healthcare (NYSE:MOH) Announces Earnings Results

Molina Healthcare (NYSE:MOH) issued its earnings results on Wednesday. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.12, FiscalAI reports. The firm had revenue of $10.87 billion for the quarter, compared to analyst estimates of $10.83 billion. Molina Healthcare had a return on equity of 8.76% and a net margin of 0.42%.

Molina Healthcare Price Performance

Shares of Molina Healthcare stock traded down $3.40 on Wednesday, hitting $223.13. The company had a trading volume of 2,173,518 shares, compared to its average volume of 1,537,905. The business has a 50-day simple moving average of $205.04 and a 200-day simple moving average of $176.37. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market cap of $11.63 billion, a PE ratio of 66.02 and a beta of 0.74. Molina Healthcare has a 52 week low of $121.06 and a 52 week high of $244.89.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, CAO Maurice Hebert sold 600 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $191.55, for a total value of $114,930.00. Following the completion of the sale, the chief accounting officer directly owned 12,815 shares in the company, valued at $2,454,713.25. This represents a 4.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeff D. Barlow sold 17,811 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $186.12, for a total value of $3,314,983.32. Following the transaction, the insider directly owned 67,175 shares of the company’s stock, valued at approximately $12,502,611. The trade was a 20.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.44% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Molina Healthcare by 0.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,668 shares of the company’s stock worth $2,616,000 after purchasing an additional 92 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Molina Healthcare by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,753 shares of the company’s stock valued at $3,206,000 after purchasing an additional 104 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Molina Healthcare by 96.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 249 shares of the company’s stock valued at $43,000 after purchasing an additional 122 shares during the period. Beacon Pointe Advisors LLC raised its holdings in shares of Molina Healthcare by 9.9% in the 4th quarter. Beacon Pointe Advisors LLC now owns 1,416 shares of the company’s stock worth $246,000 after buying an additional 128 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in shares of Molina Healthcare in the 2nd quarter worth approximately $48,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MOH. Robert W. Baird upped their price target on shares of Molina Healthcare from $124.00 to $163.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Mizuho set a $215.00 target price on shares of Molina Healthcare in a research note on Monday, June 8th. Zacks Research upgraded shares of Molina Healthcare from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. Truist Financial raised their price target on shares of Molina Healthcare from $205.00 to $250.00 and gave the company a “hold” rating in a research note on Tuesday, July 14th. Finally, Bank of America raised Molina Healthcare from an “underperform” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $207.06.

About Molina Healthcare

Molina Healthcare, Inc is a managed care company specializing in government-sponsored health insurance programs. The company offers Medicaid managed care plans, Medicare Advantage and prescription drug plans, and individual Marketplace plans under the Affordable Care Act. Through an integrated care model, Molina emphasizes preventive and primary care services, care coordination, and disease management to improve health outcomes for its members.

The company traces its roots to the early 1980s, when Dr.