Molina Healthcare (NYSE:MOH) Price Target Raised to $316.00 at Morgan Stanley

Molina Healthcare (NYSE:MOH) had its price target lifted by Morgan Stanley from $296.00 to $316.00 in a report published on Monday, Price Targets.com reports. Morgan Stanley currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Molina Healthcare from $253.00 to $256.00 and gave the company an underweight rating in a research note on Tuesday, August 3rd. Mizuho increased their target price on shares of Molina Healthcare from $284.00 to $305.00 and gave the company a buy rating in a research note on Monday. Cowen started coverage on shares of Molina Healthcare in a research note on Thursday, September 9th. They issued an outperform rating and a $336.00 target price for the company. Truist Securities increased their target price on shares of Molina Healthcare from $300.00 to $330.00 and gave the company a buy rating in a research note on Monday. Finally, BMO Capital Markets raised their price target on shares of Molina Healthcare from $300.00 to $315.00 and gave the stock an outperform rating in a research note on Friday, July 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and a consensus price target of $287.22.

Shares of NYSE:MOH opened at $277.39 on Monday. The company has a market cap of $16.20 billion, a P/E ratio of 25.90, a P/E/G ratio of 1.06 and a beta of 0.70. The stock’s 50-day moving average is $262.93 and its 200-day moving average is $252.73. Molina Healthcare has a 52-week low of $151.40 and a 52-week high of $283.43. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.55 and a current ratio of 1.55.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, July 28th. The company reported $3.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.47 by ($0.07). Molina Healthcare had a net margin of 2.68% and a return on equity of 28.54%. The business had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.37 billion. As a group, equities analysts predict that Molina Healthcare will post 13.47 EPS for the current year.

In related news, Director Dale B. Wolf sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $277.19, for a total value of $692,975.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronna Romney sold 300 shares of the firm’s stock in a transaction that occurred on Monday, August 9th. The shares were sold at an average price of $265.16, for a total transaction of $79,548.00. The disclosure for this sale can be found here. Company insiders own 1.49% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOH. Viking Global Investors LP grew its holdings in Molina Healthcare by 40.2% during the 1st quarter. Viking Global Investors LP now owns 1,433,753 shares of the company’s stock worth $335,154,000 after acquiring an additional 411,014 shares during the period. Los Angeles Capital Management LLC grew its holdings in Molina Healthcare by 143.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 377,854 shares of the company’s stock worth $95,620,000 after acquiring an additional 222,519 shares during the period. Amundi acquired a new stake in Molina Healthcare during the 2nd quarter worth $54,732,000. Scout Investments Inc. acquired a new stake in Molina Healthcare during the 2nd quarter worth $47,376,000. Finally, Royal Bank of Canada grew its holdings in Molina Healthcare by 119.0% during the 2nd quarter. Royal Bank of Canada now owns 300,667 shares of the company’s stock worth $76,086,000 after acquiring an additional 163,354 shares during the period. 93.65% of the stock is owned by hedge funds and other institutional investors.

About Molina Healthcare

Molina Healthcare, Inc engages in the provision of health care services. It operates through the Health Plans and Other segments. The Health Plans segment consists of health plans in 11 states and the Commonwealth of Puerto Rico and includes direct delivery business. The Other segment includes the historical results of the MMIS and behavioral health subsidiaries.

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Analyst Recommendations for Molina Healthcare (NYSE:MOH)

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