Molina Healthcare (NYSE:MOH) Shares Up 4.1% – Here’s What Happened

Molina Healthcare, Inc. (NYSE:MOH)’s share price shot up 4.1% on Monday . The stock traded as high as $325.20 and last traded at $323.02. 297,621 shares were traded during trading, a decline of 43% from the average session volume of 523,280 shares. The stock had previously closed at $310.41.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Truist Financial cut their price objective on Molina Healthcare from $400.00 to $370.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com raised shares of Molina Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Friday. Robert W. Baird dropped their price objective on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $350.00 price objective (down previously from $378.00) on shares of Molina Healthcare in a research note on Tuesday, December 17th. Finally, Barclays boosted their target price on shares of Molina Healthcare from $359.00 to $372.00 and gave the company an “equal weight” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $359.18.

Molina Healthcare Stock Performance

The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.53. The firm has a market cap of $18.63 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 0.96 and a beta of 0.54. The business’s 50-day simple moving average is $297.44 and its two-hundred day simple moving average is $317.93.

Hedge Funds Weigh In On Molina Healthcare

A number of hedge funds have recently bought and sold shares of the business. True Wealth Design LLC increased its position in shares of Molina Healthcare by 2,500.0% in the third quarter. True Wealth Design LLC now owns 104 shares of the company’s stock valued at $36,000 after buying an additional 100 shares in the last quarter. Versant Capital Management Inc increased its position 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 worth $47,000 after purchasing an additional 74 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Molina Healthcare in the fourth quarter worth about $52,000. Financial Perspectives Inc acquired a new position in shares of Molina Healthcare during the 4th quarter worth approximately $59,000. Finally, Capital Performance Advisors LLP purchased a new stake in Molina Healthcare in the 3rd quarter valued at $62,000. Hedge funds and other institutional investors 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.