Truist Financial Issues Pessimistic Forecast for Molina Healthcare (NYSE:MOH) Stock Price

Molina Healthcare (NYSE:MOH) had its price target cut by Truist Financial from $400.00 to $370.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 24.97% from the stock’s previous close.

Several other equities research analysts have also issued reports on MOH. Wells Fargo & Company increased their target price on shares of Molina Healthcare from $360.00 to $362.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $406.00 price objective on shares of Molina Healthcare in a research note on Thursday, October 24th. Barclays lifted their target price on Molina Healthcare from $359.00 to $372.00 and gave the company an “equal weight” rating in a research note on Friday, October 25th. Robert W. Baird dropped their price target on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com upgraded shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Molina Healthcare has an average rating of “Hold” and a consensus price target of $359.18.

Molina Healthcare Stock Down 0.8 %

Shares of MOH stock opened at $296.06 on Monday. The company has a 50 day simple moving average of $302.88 and a two-hundred day simple moving average of $317.62. The stock has a market cap of $16.93 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.04 and a beta of 0.54. Molina Healthcare has a 12 month low of $272.69 and a 12 month high of $423.92. The company has a current ratio of 1.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, October 23rd. The company reported $6.01 EPS for the quarter, topping analysts’ consensus estimates of $5.96 by $0.05. Molina Healthcare had a return on equity of 27.88% and a net margin of 2.92%. The company had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $9.92 billion. During the same period last year, the firm earned $5.05 EPS. Molina Healthcare’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, research analysts expect that Molina Healthcare will post 23.44 earnings per share for the current year.

Institutional Trading of Molina Healthcare

Several hedge funds have recently made changes to their positions in the business. Pensionfund Sabic increased its stake in Molina Healthcare by 30.3% during the fourth quarter. Pensionfund Sabic now owns 4,300 shares of the company’s stock worth $1,252,000 after acquiring an additional 1,000 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Molina Healthcare by 7.2% during the 4th quarter. Nordea Investment Management AB now owns 4,445 shares of the company’s stock valued at $1,300,000 after purchasing an additional 300 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Molina Healthcare in the fourth quarter valued at $544,000. GAMMA Investing LLC raised its position in Molina Healthcare by 64.5% in the 4th quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $260,000 after purchasing an additional 350 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Molina Healthcare by 83.1% during the fourth quarter. Versant Capital Management Inc now owns 163 shares of the company’s stock valued at $47,000 after buying an additional 74 shares during the last quarter. 98.50% of the stock is currently owned by hedge funds and other institutional investors.

About Molina Healthcare

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.