Molina Healthcare (NYSE:MOH) Trading 3.2% Higher – Here’s Why

Molina Healthcare, Inc. (NYSE:MOH)’s share price traded up 3.2% during mid-day trading on Wednesday . The stock traded as high as $318.88 and last traded at $320.53. 41,145 shares were traded during trading, a decline of 94% from the average session volume of 736,212 shares. The stock had previously closed at $310.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research report on Wednesday. Mizuho cut their price target on Molina Healthcare from $382.00 to $376.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. restated a “neutral” rating and set a $350.00 price objective (down previously from $378.00) on shares of Molina Healthcare in a report on Tuesday, December 17th. Truist Financial dropped their target price on Molina Healthcare from $370.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company raised Molina Healthcare from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $295.00 to $372.00 in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Molina Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.69.

Molina Healthcare Stock Performance

The stock’s 50-day moving average is $302.25 and its 200-day moving average is $309.17. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The stock has a market cap of $17.71 billion, a price-to-earnings ratio of 15.85, a P/E/G ratio of 1.06 and a beta of 0.56.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a return on equity of 28.13% and a net margin of 2.90%. On average, analysts expect that Molina Healthcare, Inc. will post 24.4 EPS for the current year.

Insider Transactions at Molina Healthcare

In other news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $301.33, for a total transaction 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. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

Hedge funds have recently bought and sold shares of the business. Colonial Trust Co SC grew its position in shares of Molina Healthcare by 930.0% in the 4th quarter. Colonial Trust Co SC now owns 103 shares of the company’s stock worth $30,000 after acquiring an additional 93 shares in the last quarter. True Wealth Design LLC lifted its stake in Molina Healthcare by 2,500.0% during the third quarter. True Wealth Design LLC now owns 104 shares of the company’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Molina Healthcare by 83.1% in 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 during the period. Wingate Wealth Advisors Inc. bought a new stake in Molina Healthcare during the fourth quarter valued at $52,000. Finally, Hurley Capital LLC acquired a new stake in shares of Molina Healthcare during the fourth quarter worth $55,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

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.