Molina Healthcare (NYSE:MOH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Saturday. The firm currently has a $113.00 target price on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.38% from the stock’s previous close.
According to Zacks, “Molina Healthcare’s shares have outperformed the growth of its industry in the past one year. The company’s growing top line, backed by a consistent membership rise, positions it for long-term growth. Its inorganic strategies also remain accretive to the revenue base. Solid first-quarter results have prompted the company to raise its guidance, which raise optimism. The company has begun an enterprise-wide restructuring program to reduce expenses and improve overall operational efficiency. However, Molina Healthcare suffers from rising medical care costs along with dependence on debt financing that have resulted in higher interest expenses, draining the bottom line.”
Several other analysts have also recently weighed in on MOH. ValuEngine raised Molina Healthcare from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Piper Jaffray Companies boosted their price objective on Molina Healthcare to $92.00 and gave the stock an “overweight” rating in a report on Tuesday, March 20th. Leerink Swann boosted their price objective on Molina Healthcare from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, March 28th. Morgan Stanley upped their price target on Molina Healthcare from $91.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, May 1st. Finally, TheStreet raised Molina Healthcare from a “c” rating to a “b-” rating in a research note on Monday, May 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $83.93.
Shares of NYSE:MOH opened at $97.94 on Friday. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 174.89, a PEG ratio of 1.38 and a beta of 1.17. Molina Healthcare has a 1-year low of $56.67 and a 1-year high of $103.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.36 and a quick ratio of 1.36.
Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Monday, April 30th. The company reported $1.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.90. The firm had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Molina Healthcare had a positive return on equity of 20.08% and a negative net margin of 2.46%. The company’s quarterly revenue was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.63 EPS. sell-side analysts expect that Molina Healthcare will post 4.62 EPS for the current year.
In related news, Director Steven J. Orlando sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $82.10, for a total value of $123,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Garrey Carruthers sold 2,050 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $86.24, for a total value of $176,792.00. The disclosure for this sale can be found here. Insiders sold a total of 4,150 shares of company stock valued at $350,174 over the last quarter. 0.65% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in shares of Molina Healthcare by 53.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,156,150 shares of the company’s stock valued at $165,334,000 after purchasing an additional 751,800 shares during the period. Victory Capital Management Inc. grew its position in shares of Molina Healthcare by 17.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,862,307 shares of the company’s stock valued at $151,182,000 after purchasing an additional 271,898 shares during the period. Iridian Asset Management LLC CT grew its position in shares of Molina Healthcare by 6.7% in the 1st quarter. Iridian Asset Management LLC CT now owns 1,783,732 shares of the company’s stock valued at $144,803,000 after purchasing an additional 112,125 shares during the period. Tiedemann Advisors LLC grew its position in shares of Molina Healthcare by 30.9% in the 1st quarter. Tiedemann Advisors LLC now owns 1,764,371 shares of the company’s stock valued at $143,231,000 after purchasing an additional 416,159 shares during the period. Finally, Northern Trust Corp grew its position in shares of Molina Healthcare by 3.0% in the 1st quarter. Northern Trust Corp now owns 910,390 shares of the company’s stock valued at $73,906,000 after purchasing an additional 26,860 shares during the period.
Molina Healthcare Company Profile
Molina Healthcare, Inc provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program in the United States. It operates through three segments: Health Plans, Molina Medicaid Solutions, and Other.
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