Molina Healthcare (NYSE:MOH) Now Covered by Guggenheim

Guggenheim initiated coverage on shares of Molina Healthcare (NYSE:MOH) in a research note published on Wednesday morning, MarketBeat reports. The firm issued a neutral rating on the stock.

Several other equities research analysts also recently commented on the stock. Mizuho upped their target price on shares of Molina Healthcare from $376.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday. Stephens reaffirmed an “equal weight” rating and set a $345.00 price objective on shares of Molina Healthcare in a research note on Thursday, February 6th. Wells Fargo & Company upgraded shares of Molina Healthcare from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $295.00 to $372.00 in a research note on Wednesday, March 5th. 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, Truist Financial cut their price objective on Molina Healthcare from $370.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Molina Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $350.75.

Molina Healthcare Price Performance

NYSE:MOH traded up $6.94 during mid-day trading on Wednesday, hitting $347.03. The company’s stock had a trading volume of 407,346 shares, compared to its average volume of 746,162. The company has a market capitalization of $18.98 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.06 and a beta of 0.70. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. Molina Healthcare has a fifty-two week low of $262.32 and a fifty-two week high of $379.07. The stock has a fifty day moving average of $309.45 and a 200-day moving average of $308.20.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.74 by ($0.69). Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. As a group, equities analysts forecast that Molina Healthcare will post 24.4 EPS for the current fiscal year.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 17,375 shares of the company’s stock, valued at approximately $5,235,608.75. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MOH. Wellington Management Group LLP lifted its stake in Molina Healthcare by 7.4% in the fourth quarter. Wellington Management Group LLP now owns 2,632,232 shares of the company’s stock valued at $766,111,000 after buying an additional 181,073 shares during the period. FMR LLC boosted its stake in Molina Healthcare by 31.1% during the 4th quarter. FMR LLC now owns 1,801,113 shares of the company’s stock worth $524,214,000 after acquiring an additional 427,276 shares during the last quarter. Geode Capital Management LLC boosted its stake in Molina Healthcare by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,436,909 shares of the company’s stock worth $417,144,000 after acquiring an additional 34,992 shares during the last quarter. Invesco Ltd. grew its holdings in Molina Healthcare by 28.5% during the fourth quarter. Invesco Ltd. now owns 1,327,021 shares of the company’s stock valued at $386,229,000 after purchasing an additional 294,180 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Molina Healthcare by 15.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 688,245 shares of the company’s stock valued at $200,307,000 after purchasing an additional 91,229 shares in the last quarter. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.